- Honeywell (NASDAQ:HON +0.3%) and its suppliers plan to spend $900M in coming years for research and development and to expand capacity to increase production of more environmentally friendly refrigerants, insulation materials, solvents and aerosols.
- HON says it has spent nearly $350M so far for efforts to create products to reduce greenhouse gas emissions, reduce energy consumption and meet proposed tighter U.S. environmental regulations and plans to spend $550M more to support the new products.
- The proposal includes a planned $300M plant at its Geismar, La., operation that was unveiled late last year, which will produce a more environmentally friendly refrigerant for automobiles and is expected to fully operational in 2016.