UOP Lifts Honeywell’s Chemical Results

Honeywell’s performance materials and technologies (PMT) unit posted first-quarter segment profit of $319 million, a 12% gain from the year-ago quarter. Sales were up 19%, to $1.62 billion. Profit rose on higher volumes, partly offset by higher investment costs, Honeywell says. Margin decreased 1.2 percentage points, to 19.8%, primarily due to the dilutive impact of the company’s 2011 acquisition of Sunoco’s phenol and acetone operations. “This is better than expected performance due to less price and raw material headwinds than originally planned,”...

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