Honeywell will participate in a two-year program with CPS Energy, the community-owned, not-for-profit energy utility in San Antonio, Texas.
The utility will use automated demand response (ADR) technology and services from Honeywell to connect and collaborate with commercial and industrial customers, and adjust electricity consumption when the demand for energy peaks. As a result, CPS Energy will have additional tools to enhance the stability of the Texas electrical grid, especially on hot summer days when air conditioners and other cooling equipment are often running at capacity.
The program is expected to be the largest ADR deployment by a municipal utility, and will build on a successful pilot project that CPS Energy and Honeywell completed last year. The pilot included nine commercial and industrial facilities, and helped trim demand by approximately 1.5 megawatts (MW) — a more than 10 percent reduction in each building on average. Honeywell and CPS Energy will look to enroll 60 additional sites, bringing the potential reduction to nearly 6 MW, enough electricity to meet the typical load of more than 2,200 homes.
BusinessWorld – India’s leading business magazine – released its annual leadership issue featuring a series of interviews with the country’s top business leaders on this year’s theme of “Glocal” or global-local thought leadership.
Anant Maheshwari, President of Honeywell India, provided insight for the cover story, “Global Corporations, Local Lessons” that explained Honeywell’s global strategy of Becoming the Chinese Competitor to gain a competitive edge. Click here to read the cover story.
In a second feature, which is a Honeywell exclusive, the piece observes, “For Honeywell India, going Glocal is not a one-way street of picking up ideas in one place and thrusting them in another.” Maheshwari explains the best measure of success for Honeywell’s Becoming the Chinese Competitor strategy is its results. The first step in becoming China’s competitor is to win there, and the country has become Honeywell’s second largest in sales. Click here to read the article.
Honeywell attended the annual IR Magazine Awards in the U.S., where the company took home three awards including Best Financial Reporting, Best in Sector: Diversified Industrials, and Best IR by a CFO – Large Cap by David Anderson.
The awards ceremony, now in its 19th year, was hosted by David Brancaccio, host and senior editor of American Public Media’s Marketplace Morning Report, and saw more than 400 members of the US IR community gather at New York’s Cipriani Wall Street.
The winners of the 2014 IR Magazine Awards in the U.S. were determined by an independent survey of more than 800 analysts and investors based throughout the US. Each was asked to vote for the company they think provides the best IR service in each awards category.
Honeywell Chairman and CEO Dave Cote appeared on Fox Business Network’s MONEY with Melissa Francis, where he discussed more efficient ways to promote STEM education in order to increase the number of engineers in America.
“If we took a look at all the government programs that support science, technology, engineering and math, there are over 100 programs already,” Cote explained. “None of them are coordinated and not a single one is measured to see if we are getting what we ought to. My guess is there’s a way to combine all that, focus and measure it, and you can probably pay someone to get an engineering degree.”
Cote illustrated the need for more focus, using the future of Honeywell as a prime example.
“We’ve got over 22,000 engineers… and more than half of them are doing software,” Cote said. “Whether it's simulation software packages, the software that goes into a product today, or the software you sell as a service, it is becoming increasingly important – and that’s math and science based.”
PetroChina Company Limited will expand its use of Honeywell advanced information management and process modeling software tools to 17 additional refining and petrochemical sites across China, to help meet the country’s growing demand for chemicals and transportation fuels. PetroChina currently uses Honeywell’s information solutions at 13 locations.
Honeywell’s Refining and Petrochemical Modeling System (RPMS) and its Intuition® Executive advanced information management software will give PetroChina plant operators the ability to monitor operations across its entire organization to help provide the real-time information they need to better improve the profitability and efficiency of their plants.
“Refiners and chemical plant operators must make complex business decisions quickly to take advantage of rapidly changing market conditions – from prices for feedstocks such as crude oil and natural gas, to rising demand for finished products,” said Aldous Wong, vice president and general manager, Honeywell Process Solutions, China. “Implementing these Honeywell solutions across more of their locations will help PetroChina maximize profitability through better visibility and efficiency of their overall operations, and help them meet the growing demand for energy.”
One of only thirty CEOs chosen from companies around the world, Cote is credited with transforming Honeywell and building a strong track record of financial performance, which includes increasing sales by 77 percent to $39.1 billion, EPS1 by 229 percent to $4.97, and free cash flow2 by 72 percent to $3.8 billion, delivering a total shareowner return of 249 percent within the past ten years.
Cote has also become a strong presence in Washington, D.C., focusing on bringing solutions to the toughest challenges facing the U.S. This month, he was elected as a director of the New York Federal Reserve, one of six serving on behalf of the public.
The World’s Best CEOs list was created based on the views of Barron’s reporters and editors with insights from investors, analysts, and industry executives. Shareholder returns were a key criterion, in addition to financial soundness, employee motivation, innovative products, and maintaining consistent profit growth and shareholder gains.
1 Proforma, EPS and V% exclude pension mark-to-market adjustment ; 2 Free Cash Flow shown prior to any NARCO trust establishment payments, cash pension contributions, and cash taxes relating to the sale of available for sale investments