Honeywell buys Russian advanced solutions provider

Phoenix, AZ; Moscow, Russia—Honeywell reports that its has bought Petrocom, which provides consulting services and advanced process control solutions for Russia’s refining, oil and gas, and other industries.

02/15/2005


Phoenix, AZ; Moscow, Russia— Honeywell reports that its has bought Petrocom, which consulting services and advanced process control solutions for Russia’s refining, oil and gas, and other industries. Honeywell says the acquisition enhances its presence in Russia, and lays the foundation for future growth in the region. Petrocom was formed in 1991 as a joint venture between the Institute of Control Sciences and Bonner & Moore, which Honeywell acquired in 1999.

'Petrocom's true value comes from the expertise and talent of its people, and is a natural fit with existing Honeywell process control solutions business,' says Alexander Lebedinsky, ZAO Honeywell’s GM. 'The acquisition unites the best of Russian science with the most advanced technologies and Honeywell’s international business practices. It will enable us to significantly improve the service offerings and overall value that Honeywell provides to its Russian, CIS and Eastern European customers for advanced process control systems, as well as advanced consulting capabilities.'

Honeywell adds that acquiring Petrocom is an integral component of its plan to become a leading provider of complete technology solutions for Russian industries, particularly its oil and gas market, by combining its Experion Process Knowledge System (PKS) with advanced solutions, including plant simulation and planning and scheduling.

'Petrocom is pleased to become a part of Honeywell to establish a business with unique local expertise in the Russian market and the ability to extend that expertise to our global customers' says Leonid Sorkin, a professor at Petrocom. 'Honeywell's renowned technology and service expertise, in combination with Petrocom's extensive experience in the Russian oil and gas market, creates a win-win situation for current and future customers.'

Petrocom will become part of Honeywell Process Solutions (HPS), which provides automation and control solutions for process and hybrid industries, including: refining, oil and gas, pulp and paper, mining, minerals and metals, bulk and batch chemicals, pharmaceuticals and power generation. HPS employs more than 9,000 people in more than 90 countries worldwide. HPS is part of Honeywell’s Automation and Control Solutions group.

Control Engineering Daily News Desk
Jim Montague, news editor
jmontague@reedbusiness.com





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