Contact:
Don Empie
+1 832-252-3619
donald.empie@honeywell.com

Honeywell’s Assurance 360 Services Program Protecting Industrial Plants Throughout the World

Long-term strategic partnerships transforming control system maintenance and support, allowing manufacturers to focus on core business operations  

Assurance 360 can cut total cost of ownership by as much as 20 percent

More than $350 million in contracts since 2014 launch

HOUSTON, Oct. 11, 2016 - Honeywell (NYSE:HON) Process Solutions (HPS) today announced it is helping industrial manufacturing plants around the world maximize uptime and reduce operating costs through its innovative Assurance 360 services program. The tiered program with guaranteed service levels was launched in 2014.

Honeywell image 2016 10

Through Assurance 360, plants have reduced overall incidents by as much as 40 percent, improving uptime and productivity. The program can also help facilities reduce production waste by up to 30 percent, cutting operating expenses and increasing output. These improvements, along with improved efficiency of maintenance staff, can help plants reduce their total cost of ownership by up to 20 percent.

 "With Assurance 360, manufacturers no longer worry about maintenance, support and updates for their control systems. Honeywell assumes responsibility for outcomes as a trusted partner," said Steve Linton, HPS global director, Programs and Contracts. "These contracts transform how plant assets are managed, putting the focus on system performance and allowing customers to focus on operations."

The Assurance 360 program, which is part of HPS' industrial Internet of things-ready technologies, moves beyond traditional transactional approaches to maintenance and support that prescribe quantities of materials or labor. Instead, Honeywell provides the maintenance, support and optimization necessary, including hardware refresh, software updates and upgrades, and remote support, to meet agreed outcomes and achieve operators' long-term goals. With controlled costs, manufacturers can take a strategic view to use the automation system to improve business performance.

Through an international network of performance experts Honeywell is able to provide on-site maintenance and support to HPS Assurance 360 participants across the globe. Multi-year service partnerships are now in place supporting control systems at major facilities in multiple industries around the world, including refining, oil and gas, petrochemicals, chemical, pulp and paper and mining.

Each Assurance 360 program is tailored to the needs of the operation offering two levels of support to meet different user needs:

  • Assurance 360 Optima offers dedicated resources for preventive and corrective maintenance, replacement parts in the event of a failure, system updates, cyber security tools and servers, achieving the defined outcomes with payment adjusted by the results attained.
  • Assurance 360 Performa provides oversight on all aspects of system management with a focus on meeting or exceeding performance metrics through visualization, planning and targeted support when needed. Honeywell performance experts help and guide site personnel in preventive and corrective maintenance tasks as well as hardware and software upgrades.

"With increased competitive pressures and tighter margins, an increasing number of customers are finding they can benefit from the predictable cost structure and certainty of outcomes Assurance 360 provides," added Linton. "The continued uptake of these services is fundamentally overhauling the way industries manage their control system services and support." 

For more information about Honeywell`s Assurance 360 Program watch: https://www.youtube.com/watch?v=7x2DoqWTHyg&feature=youtu.be

For more information about Honeywell's automation solutions, please visit: www.honeywellprocess.com

Honeywell Process Solutions (www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas; refining; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals and mining industries. Process Solutions is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes Honeywell UOP (www.uop.com), a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and  performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission

# # #