UOP LLC, a subsidiary of Honeywell International Inc HON, recently announced the selection of its indigenous technology and equipment by Egypt's Alexandria National Refining & Petrochemicals Company (ANRPC) to help meet the growing domestic demand for high-octane gasoline.

ANRPC is undertaking a $300 million expansion of its gasoline production refinery. It manages and operates refining, manufacturing and petrochemical plants to produce high-octane gasoline. Going forward, UOP will be supplying its second UOP CCR Platforming (continuous catalytic reforming) process unit for the production of high-octane, low-sulfur gasoline.

UOP will supply the CCR unit in its highly successful modular form. Its modular refining equipment is expected to reduce costs for ANRPC by reducing installation time and enabling faster project completion. With this contract, Honeywell continues the adoption of its CCR Platforming units, which are already generating over 6 million barrels of fuel per day globally.
The CCR Platforming process unit helps in producing cleaner-burning fuel and is likely to reduce the rising gap between Egypt's domestic demand and supply of high-octane gasoline.

Honeywell is a global diversified technology and manufacturing company with a wide range of products and services. These include control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals as well as energy efficient products and solutions for homes, business and transportation.

Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising include Leidos Holdings, Inc LDOS carrying a Zacks Rank #1 (Strong Buy) along with Engility Holdings, Inc EGL and Northrop Grumman Corporation NOC, carrying a Zacks Rank #2 (Buy).

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