Honeywell and Safran to create joint venture to launch new green taxiing system
Partnership targets major improvements in aircraft fuel consumption and carbon emissions during ground operations PARIS, June 19, 2011 – Honeywell (NYSE:HON) and French aerospace leader Safran (NYSE Euronext Paris: SAF) have signed a memorandum of understanding to create a joint venture company to deliver an innovative new electric green taxiing system for new and existing aircraft. Honeywell and Safran expect it to be installed on new aircraft and retrofitted on to existing planes, beginning in 2016.
The new taxiing system will significantly improve airline operational efficiency and provide environmental benefits by slashing the carbon and other emissions created during runway taxi operations.
Taxiing burns a significant amount of fuel – current industry analysis indicates that the world's short-haul aircraft consume 5 million tons of fuel per year during taxi operations. The new electric green taxiing system offered by the Honeywell-Safran joint venture company will save customers up to 4% of the total fuel consumption -– all while providing green benefits that significantly reduce the carbon and other emissions produced by taxiing at ground level.
Honeywell and Safran will leverage the plane's Auxiliary Power Unit (APU) generator to power electrical motors in the aircraft's main wheels without using main engines during aircraft ground operations, thereby cutting costs, emissions and reliance on fossil fuels.
"When it comes to solving big, weighty challenges for our customers, Honeywell and Safran have unmatched track records for innovation and execution. Today, the cost of fuel -- and the related cost of carbon emissions -- are right at the top of the list of the biggest concerns for any airline," said Tim Mahoney, president and chief executive officer of Honeywell Aerospace. "By using the new electric green taxiing system to provide the power needed for ground-level maneuvering, Honeywell and Safran can save our airline customers several hundred thousand dollars per aircraft per year." Partnership means better products and quicker market availability
The new partnership capitalizes on the two companies' complementary product strengths – Honeywell's auxiliary power experience and Safran's world-class landing gear systems. Both companies will contribute expertise in electric power, mechanical systems and systems integration, as well as their combined well-established credibility for innovation.
"This partnership provides Safran and Honeywell a unique opportunity to combine our individual experience and expertise for the greater benefit of the airlines and the passengers they serve," said Jean-Paul Herteman, Safran's chairman and chief executive officer. "We're excited to be working on this innovative partnership that capitalizes on our companies' individual strengths to drive performance for the airlines." Electric taxiing delivers significant green benefits, greatly improves aircraft performance
Aircraft equipped with this new electric green taxiing system will be able to "pushback and go" more quickly thus reducing gate and tarmac congestion, improving on time departure performance and saving valuable time on the ground.
Fuel savings are not the only operational cost this aircraft electric green taxiing system will address. The system will eliminate the need for tugging and associated equipment costs, and it reduces both brake wear and taxes based on carbon emissions.
These costs are especially problematic for airlines with high percentages of short-haul operations because ground taxiing is a greater percentage of total aircraft use. That makes airline profit margins for short-haul aircraft more sensitive to these expenses. Fuel-saving technology such as this electric green taxiing system can significantly improve the airline operator's bottom line. Honeywell and Safran intend to focus their joint venture on narrow-body-sized aircraft, which are more likely to be used for short-range flights. APU generates power for wheel motors The aircraft electric green taxiing system works by using the aircraft's APU to provide power to specialized motors near the main landing gear wheels. Unique power electronics and system controllers allow the pilot to control the speed, brakes and direction of the aircraft throughout ground transportation.
Honeywell's aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations. 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; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. _For more news and information on Honeywell, please visit www.honeywellnow.com.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has more than 54,000 employees and generated sales of 10.8 billion euros in 2010. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.2 billion euros in 2010. Safran is listed on NYSE Euronext Paris and is part of the CAC Large 60 index.
For more information: www.safran-group.com
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. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markGTS, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. Honeywell Contact
Bill Reavis - +1 602-365-2055 - Bill.Reavis@honeywell.com
Catherine Malek - +33 (0)1 40 60 80 28 - email@example.com
Pascal Bantegnie - +33 (0)1 40 60 80 45 - firstname.lastname@example.org
Antoine-Pierre de Grammont - +33 (0)1 40 60 80 47 - email@example.com