Honeywell, Codelco in joint venture |
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Mon, 29 Jan 2007 17:12
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NEW YORK (AFX) - Diversified high-tech manufacturer Honeywell International Inc. said Monday said it started a joint venture with Chile's Codelco, the world's largest copper producer copper.The joint venture, Kairos Mining, will help Codelco improve plant process stability and business performance, according to a company release.Financial terms were not disclosed.Codelco workers will be trained to use Honeywell technology to reduce variability in the crushing, grinding, collective flotation and thickening processes used in the concentrator plants. The program will start this year in the Codelco division where initial testing was performed, and will spread to two more divisions over the next five years.The instrumentation, applications and services will be provided by Honeywell and other third-party vendors.Shares of Morristown, N.J.-based Honeywell slid 8 cents to $44.05 in morning trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Honeywell to provide automation technology, services to Codelco plants in new jv 