Honeywell's (HON) Technologies to Drive ABF's Gigafactory
Honeywell International HON announced that its automation and process safety solutions are set to be integrated into Lithium Iron Phosphate (LFP) battery cell manufacturer, American Battery Factory’s (“ABF”) new gigafactory located in Tucson, AZ. The 2 million square feet facility, which is yet to be completed, will be the largest gigafactory to produce LFP battery cells in the United States.
The integration of Honeywell's Manufacturing Excellence Platform, Experion Batch and Integrated Remote operations will help ABF optimize its manufacturing process and workflow. Through its innovative solutions, HON will allow ABF to visualize and control all aspects of the battery production process, from mixing, coating and assembly to storage and distribution, in real time.
Honeywell's technologies will streamline the collection of operations data while gathering insights about upcoming tasks or potential delays for operators. This would result in improved yields, reduced waste and lead to energy-efficient and cost-effective battery production.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
Honeywell Process Solutions’ vice president and general manager of Projects and Automation Solutions, Chad Briggs, said, "Our approach to automation and process controls will change how gigafactories operate in the future by helping to increase battery production and reduce energy consumption."
Zacks Rank & Key Picks
Honeywell presently carries a Zacks Rank #3 (Hold).
Below we discuss some better-ranked stocks from the broader Industrial Products sector:
Flowserve Corporation FLS presently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 6.2%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Flowserve has an estimated earnings growth rate of 79.1% for the current year. The stock has jumped around 26% so far this year.
Graham Corporation GHM currently flaunts a Zacks Rank #1. The company pulled off a trailing four-quarter earnings surprise of 243.1%, on average.
Graham has an estimated earnings growth rate of 400% for the current fiscal year. The stock has rallied 66% so far this year.
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Honeywell International Inc. (HON) : Free Stock Analysis Report
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