Honeywell's LEAP to Reduce Automation Costs - Analyst Blog

Honeywell Process Solutions, a part of Honeywell International Inc. HON, recently announced the launch of the Lean Execution of Automation Projects LEAP services to help manufacturers in the processing industries improvise their industrial facilities and ensure efficient functioning.
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Honeywell enhances its project implementation services with three innovative and enabling technologies - Virtualization, Universal Channel Technology and Cloud Engineering. The use of virtual machines in the control system removes dependency between the functional and physical design. Also, engineering in a secure, cloud environment facilitates project execution and testing anywhere across the globe, leading to travel savings.   

LEAP gives users greater scheduling flexibility and minimizes the risk involved in the project with Honeywell's propriety hardware and software services. Additionally, it removes workflow dependencies and enables core project tasks to start much earlier than expected in the process.

Automation projects require efficient management as they become large and complex. LEAP simplifies project execution and helps plants to run efficiently on time, which result in significant cost savings. Going forward, it is expected that LEAP is likely to result in 30% capital savings on the total installed automation costs of a project. The benefits of these project services move beyond automation and multiple industries are likely to cut costs by 80% related to unnecessary rework. The advanced services are likely to reduce avoidable schedule delays by up to 90%.

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 and are worth a look now include CLARCOR Inc CLC, Icahn Enterprises, L.P. IEP and Noble Group Limited (NOBGY), each carrying a Zacks Rank #1 (Strong Buy)