Honeywell acquires leading developer Of technologies for natural gas liquids and sulfur recovery
DES PLAINES, Ill., /PRNewswire/ -- Honeywell announced that it has acquired Ortloff Engineers, Ltd., a privately held licensor and industry-leading developer of specialized technologies that drive high returns in natural gas processing and sulfur recovery. Terms of the acquisition, which closed on Aug. 31, have not been disclosed. There is no change to the Company's guidance for 2018 as a result of the acquisition.
"For decades, Ortloff technology has defined the forefront of gas processing technology. That enables our customers to realize very high returns from their investments in natural gas separation," said John Gugel, president of Honeywell UOP. "This differentiated, highly advanced technology, allows our customers to meet stringent process guarantees, while their operations perform at a best-in-class level.
Honeywell UOP has worked closely with Ortloff since 2002, proving the effectiveness of these technologies with its customer set and establishing a long record of commercial success. This has helped gas processors secure financing for new projects and win long-term supply contracts with customers.
"
According to the U.S. Energy Information Administration, U.S. demand for NGLs is growing by more than 10 percent annually. NGLs and liquefied petroleum gas are in high demand as petrochemical feedstocks used in the production of plastics, automotive products
Comments