Dupont, Honeywell in refrigerants deal |
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Thu, 29 Mar 2007 14:13
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NEW YORK (AP) - Dupont Co. and Honeywell International Inc. will jointly develop more environmentally friendly refrigerants for auto air conditioners that will meet Europe's stricter global warming regulations, the companies said Thursday.Automotive air conditioners today use hydrofluorocarbon as a coolant, a greenhouse gas believed to contribute to harmful climate change.Dupont said the new refrigerants would meet new, tougher regulations in Europe that mandate the use of 'low global warming potential' refrigerants in auto air conditioners. The new regulations take effect in 2011 for new model vehicles, with the transition complete by 2017.Under terms of the agreement, Wilmington, Del.-based Dupont and Morris Township, N.J.-based Honeywell will jointly develop and test new refrigerants that would be cost-effective alternatives for automakers. The companies plan to share resources, investment and technology.Specific financial terms were not disclosed.'By leveraging DuPont and Honeywell resources, we can expedite product qualification and marketing to provide a new global industry solution in time to meet regulations,' said Cynthia C. Green, general manager of DuPont's fluoroproducts division, in a statement.DuPont shares added 11 cents to $49.40 in premarket trading, having closed at $49.29 Wednesday on the New York Stock Exchange. Honeywell closed at $46.03, also on the Big Board.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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DuPont and Honeywell in global refrigerants joint development agreement 