On October 8, 2012, Honeywell announced that its UOP business has signed a final agreement to acquire 70 percent of Thomas Russell Co. Thomas Russell is a leading private company that provides natural gas processing technology and equipment. UOP is part of the Honeywell Specialty Materials and Technology Group and is a leading global supplier and licensee of process technology, materials and processing equipment to the refining, petrochemical, and natural gas processing industries. Through the acquisition, Honeywell UOP will provide a wide range of key technologies and products to help shale gas and traditional natural gas companies remove impurities from natural gas and recover high-value liquid natural gas for the production of petrochemical and chemical products. Under the terms of the agreement, Honeywell UOP will acquire a 70% stake in Thomas Russell for $525 million. Honeywell UOP is entitled to acquire the remaining 30% of the shares, and Thomas Russell has the right to sell the remaining 30% of the shares to UOP at a price determined by operating income performance. "Thomas Russell's outstanding performance in the growing shale gas and oil field gas treatment market is an excellent complement to our existing business." Andreas Kramvis, President & CEO, Honeywell Specialty Materials & Technology Group Said, "With this acquisition, UOP will provide global gas companies with a full range of technologies that will convert natural gas feeds into high-value petrochemicals." The transaction is subject to regulatory approval and is expected to close in the fourth quarter. The company does not believe that the completion of the transaction will affect its expected range of earnings per share for 2012 and expects the acquisition will be reflected in the 2013 earnings. Thomas Russell was founded in 2002 and specializes in engineering design, assembly and commissioning of start-up services for skid-mounted modular systems for LNG recovery and upgrading. Liquid natural gas (including ethane, propane, butane, etc.) has a very high demand as a feedstock for petrochemical production. Thomas Russell is headquartered in Tulsa, Oklahoma, and has an assembly plant at Katusah, Oklahoma. As a recognized technology leader, Thomas Russell's customers are distributed in more than 10 US states. In 2012, the company’s sales revenue is expected to reach US$425 million. “Thomas Russell is a recognized leader in the refining, petrochemical, and gas processing industries and can help us continue to grow our business to meet the needs of our global customers,†said Tom Russell, founder and president of Thomas Russell. Our products and technologies complement each other with UOP's gas processing and hydrogen businesses, and we both share the same determination and goals for the natural gas market.†Honeywell UOP Gas Processing and Hydrogen Business provides technologies, equipment and materials for natural gas processing and refinery hydrogen purification. Its gas technologies include the removal of impurities in natural gas feedstocks such as water, mercury, sulfur, and carbon dioxide, as well as liquid natural gas recovery technologies. In a wide range of global applications, the business has provided expertise to more than 3,600 independent process installations, including new applications such as FPSOs that recover natural gas from offshore drilling. Natural gas is the fastest-growing fossil fuel in the world, and its consumption is expected to reach 160 trillion cubic feet by 2035. In recent years, Honeywell UOP has continued to expand its natural gas business. In 2009, it purchased WR Grace's gas film production line and formed a market alliance with Twister B.V., a leading provider of natural gas separation technology in the Netherlands. In order to better serve the expanding natural gas market in Southeast Asia and the world, in June 2008, UOP established a gas processing design center in Kuala Lumpur, Malaysia. In July 2012, UOP established a production and operations center in Penang, Malaysia, specializing in the production of natural gas purification membrane components. “UOP has been in the gas industry for more than 50 years,†said Rajeev Gautam, president and CEO of UOP. “The fact that Thomas Russell is able to join UOP is very exciting, which will allow us to have more comprehensive solutions that can help We are better serving this important growth industry." Quaternary Phosphonium Salt,Quaternary Phosphonium,Quaternary Phosphonium Salts,87749-50-6 Jiangyin Lanyu Chemical Co.,Ltd. , https://www.jylanyu-chem.com