Honeywell International (HON) entered into a multi-million dollar deal to provide Tiger Airways its full suite of safety avionics. The suite, including advanced IntuVue 3-D weather radar, will be used by the Airways’ new A320 aircraft.
 
IntuVue reduces cost and increases operational efficiency of airways. Tiger Airways will become the first Asian low-cost carrier to fly with IntuVue.
 
As per the agreement, Honeywell will supply 50 aircraft to Tiger Airways from late 2010 to 2015. Tiger Airways operates in 11 countries and is focused upon increasing its fleet size to 68 by December 2015.
 
Recently, the company also received the cost-plus fixed fee of $4.6 million contract for a period of 18 months from the US Army Tank Automotive Research Development Engineering Center (TARDEC) for delivery, testing and demonstration of the Micro-Grid at Wheeler Air Base, Hawaii. This is the first modern-day technology currently used in developed cities. The system will increase operational efficiency of the US Army in remote locations with reduced fossil fuel consumption.
 
The company is also expanding its activity outside the US and beyond the airline industry. Honeywell has been selected to deliver control and safety systems to the 8,704-kilometer, West-to-East II pipeline in China, the second largest energy consumer in the world. This is the longest pipeline in the world and will transform China’s coal base energy to natural gas base.
 
As a part of the American Recovery and Reinvestment Act of 2009, the company received a $27.3 million grant from the US Department of Energy to produce a critical component of lithium-ion batteries used in hybrid and electric vehicles. This will make Honeywell the first domestic supplier of high-purity lithium hexafluorophosphate (LiPF6), a conductive salt used in rechargeable lithium-ion batteries.
 
Honeywell International is a Fortune 100 diversified technology and a manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. The major competitors of Honeywell are BorgWarner Inc. (BWA), United Technologies Corp. (UTX), Johnson Controls Inc. (JCI).
 
We currently maintain our Neutral rating on Honeywell.
Read the full analyst report on “HON”
Read the full analyst report on “BWA”
Read the full analyst report on “UTX”
Read the full analyst report on “JCI”
Read the full analyst report on “”
Zacks Investment Research