Honeywell To Acquire Intercorr International
Posted: 11 July 2005
Honeywell announced the signing of a definitive agreement to acquire InterCorr International, Inc., a worldwide leader in solving corrosion and materials problems. InterCorr’s proprietary SmartCET* technology will be integrated with Honeywell’s Experion™ Process Knowledge System (PKS) to provide online, real-time data that will help customers reduce maintenance costs and increase unit productivity through minimizing failures, avoiding unplanned downtime and increased run time. Financial terms were not disclosed. Closing of the transaction is subject to customary conditions and is expected to occur this month.
Based in Houston , InterCorr is world-renowned for its technical expertise in the petroleum, energy and transportation sectors. The company has served more than 850 clients in 32 countries over its 21 year history. The company specializes in corrosion monitoring instrumentation, testing and consulting services and predictive software and corrosion research.
“Global process control industries spend an average of $50 billion a year on corrosion problems, which can hinder their abilities to operate at optimal levels,” said Jack Bolick, President of Honeywell Process Solutions. “By integrating InterCorr technology with Experion PKS, we anticipate helping our customers save on corrosion detection and prevention. It has been estimated that the cost of corrosion can be reduced by up to 20 percent through the paradigm shift gained by going from offline monitoring to InterCorr’s online, real-time technology.”
Posted by Editor Pipeline Magazine
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