HONEYWELL EXITS SAVANNAH RIVER NUCLEAR SOLUTIONS JOINT VENTURE

Rhea-AI Summary

Honeywell has exited the Savannah River Nuclear Solutions joint venture through the sale of its membership interests to partners Fluor and Huntington Ingalls. The company believes that Fluor and Huntington Ingalls will continue to deliver long-term value to the Savannah River Site. Honeywell remains committed to partnering with the Department of Energy on opportunities aligned with its core capabilities and strategic objectives.

CHARLOTTE, N.C., July 3, 2023 /PRNewswire/ -- Honeywell (Nasdaq: HON) today announced it has exited the Savannah River Nuclear Solutions joint venture through the sale of its membership interests to partners Fluor and Huntington Ingalls.

"We are confident that Fluor and Huntington Ingalls will continue to deliver long term value to the Savannah River Site as a significant portion of its scope shifts to major capital construction and start-up of plutonium production activities," said David Johnson, Vice President of Honeywell Federal Solutions. "Honeywell remains deeply committed to the success of the Department of Energy and will continue to partner with them on opportunities that align with Honeywell's core capabilities and strategic objectives." 

Honeywell (www.honeywell.com) delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. 

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that address activities, events or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to risks and uncertainties, including the impact of the COVID-19 pandemic and the Russia-Ukraine conflict, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal commitment, expectation, or prospect set forth in this release can or will be achieved. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

Contacts:
Media	Investor Relations
Caitlin Leopold	Sean Meakim
(980) 287-5730	(704) 627-6200
Caitlin.Leopold@honeywell.com	Sean.Meakim@honeywell.com

 

View original content:https://www.prnewswire.com/news-releases/honeywell-exits-savannah-river-nuclear-solutions-joint-venture-301868630.html

SOURCE Honeywell

FAQ

What did Honeywell announce?

Honeywell announced that it has exited the Savannah River Nuclear Solutions joint venture.

Who did Honeywell sell its membership interests to?

Honeywell sold its membership interests to partners Fluor and Huntington Ingalls.

What does Honeywell believe about Fluor and Huntington Ingalls?

Honeywell believes that Fluor and Huntington Ingalls will continue to deliver long-term value to the Savannah River Site.

What is Honeywell's commitment to the Department of Energy?

Honeywell remains committed to partnering with the Department of Energy on opportunities that align with its core capabilities and strategic objectives.

What type of solutions does Honeywell provide?

Honeywell provides industry-specific solutions that include aerospace products and services, control technologies for buildings and industry, and performance materials globally.

Where can I find more news and information on Honeywell?

You can find more news and information on Honeywell at www.honeywell.com/newsroom.