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4-Traders Homepage  >  Equities  >  Nyse  >  Honeywell International Inc.    HON

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Honeywell : Announces Energy Management, Carbon Reduction Project With Denmark's Largest Retailer

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02/23/2017 | 11:01am CET

ATLANTA, Feb. 23, 2017 /PRNewswire/ -- Honeywell (NYSE: HON) today announced a major energy management project with Coop Denmark, the country's largest retailer of consumer goods, to help reduce energy consumption by 20 percent by 2020 and achieve mandated carbon reduction goals.

Coop Denmark is a member-owned cooperative with more than 1.7 million members and approximately 1,200 stores. Under the project, Honeywell will deploy its software-based energy management solution, Enacto((TM)), and up to 20,000 new wireless Enacto submeters throughout the network of stores to provide the retailer with a unified view of energy use across all of its locations.

"Around the world, retailers are looking for ways to rein in costs and meet regulatory targets," said Jeff Tolnar, president of software solutions, Honeywell Home and Building Technologies. "Geographies may vary, but the business drivers for today's retailers are universal: reduce energy use and lower costs. Honeywell's software gives retailers the technology to better manage their energy use and reduce energy waste."

Honeywell's connected solutions enable Coop Denmark to identify opportunities to reduce consumption, lower energy and operational costs, and track returns on energy-saving measures. It will also help the retailer contribute to Denmark's goal of having the world's first carbon-neutral capital by 2025. The project is expected to be completed by 2020.

"Energy use comprises a significant portion of our total costs, so we're always looking for ways to ensure we're being smarter and more strategic with where and how we're consuming it," said Peter Kjærgaard Svendsen, energy manager of Coop Denmark. "Today, given the pressures of our industry, coupled with carbon-reduction goals, we're more mindful than ever of energy consumption. Honeywell's software and energy-saving expertise will help us keep our energy costs in check so we can stay focused on providing the best retail experience for our customers. All of this contributes to a more sustainable Coop and a cleaner environment."

Honeywell will work on the project with local integrator Energidata, which will provide energy audit services to help Coop Denmark identify opportunities to save energy.

Honeywell is a premier software-industrial company with more than half of its 23,000 engineers focused on software. Honeywell's strong industrial heritage gives it the unique ability to blend physical products with software to make our Internet of Things solutions more connected, efficient and productive.

For more information on Honeywell Enacto energy management software, visit www.enac.to. For more details on Honeywell's software initiatives, visit https://www.honeywell.com/who-we-are/our-initiatives/software. For more information on Denmark's 2025 Climate Plan, visit https://stateofgreen.com/en/profiles/city-of-copenhagen/solutions/copenhagen-carbon-neutral-by-2025.

About Honeywell Home and Building Technologies
Honeywell Home and Building Technologies (HBT) is a global business with more than 44,000 employees worldwide. HBT creates products, software and technologies found in more than 150 million homes and 10 million buildings worldwide. We help homeowners stay connected and in control of their comfort, security and energy use. Commercial building owners and occupants use our technologies to ensure their facilities are safe, energy efficient, sustainable and productive. Our advanced metering hardware and software solutions help electricity, gas and water providers supply customers and communities more efficiently.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/honeywell-announces-energy-management-carbon-reduction-project-with-denmarks-largest-retailer-300412153.html

SOURCE Honeywell

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Financials ($)
Sales 2017 39 188 M
EBIT 2017 7 610 M
Net income 2017 5 414 M
Debt 2017 2 504 M
Yield 2017 2,08%
P/E ratio 2017 17,81
P/E ratio 2018 16,32
EV / Sales 2017 2,49x
EV / Sales 2018 2,39x
Capitalization 95 180 M
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Number of Analysts 22
Average target price 132 $
Spread / Average Target 5,5%
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David M. Cote Chairman & Chief Executive Officer
Darius Adamczyk President, Chief Operating Officer & Director
Thomas A. Szlosek Chief Financial Officer & Senior Vice President
Krishna Mikkilineni Senior Vice President-Engineering & Operations
Jaime Chico Pardo Lead Independent Director
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