Honeywell to invest more than $200m in Louisiana facilities
Honeywell's Performance Materials and Technologies business group will invest more than $200m to expand its four production facilities in Louisiana, US.
The facilities in Louisiana consist of fluorine products production operations in Baton Rouge and Geismar, a catalyst production facility in Shreveport and an adsorbent production facility in Baton Rouge.
The investments are supported by a comprehensive incentive package lead by Louisiana Economic Development that includes both state and local tax incentives.
Louisiana Governor Bobby Jindal said: "Our partnership continues today through an additional round of projects in Ascension, Caddo and East Baton Rouge parishes."
The company will invest $169m for engineering and new production capacity related to new products, while $39m will be invested to support ongoing operations.
Honeywell Performance Materials and Technologies president and CEO Andreas Kramvis said the investments will support the global operations, while enabling the company to produce new, in-demand products to support refining processes that produce fuels and petrochemicals, as well as advanced materials that are environmentally-friendly and energy efficient.
"The support of the state of Louisiana, as well as local governments, was key in our decision to locate production of key new products at our Louisiana facilities, helping to ensure their future viability," Kramvis added.
More than 500 new direct and indirect jobs are likely to be generated in the state with the new investments.
The company is also assessing the possibility of investing an additional $1bn in its Louisiana operations in the next ten years for a series of projects.