Honeywell (NYSE:HON) has been awarded a 15-year, $88.6 million contract to completely overhaul the technology controlling the massive wastewater treatment system in Los Angeles.
The project will allow the city's Bureau of Sanitation to replace the current control systems, some of which have been in place for two decades and are vastly outdated.
"Safety, reliability, efficiency and sustainability are the measuring sticks for all industrial sites, whether they be utility companies, manufacturing plants, or municipalities such as Los Angeles for its wastewater operations," said Tracey Haslam , Americas vice president, Honeywell Process Solutions. "Achieving those four objectives means getting the right information to the right people at the right time, which is exactly what this new control system will provide for Los Angeles ' Bureau of Sanitation. We're committed to helping the city transition to the new system and then supporting that system well into the future."
Honeywell International (NYSE:HON) has potential upside of 18.3% based on a current price of $52.29 and an average consensus analyst price target of $61.84.
Honeywell International is currently above its 50-day moving average (MA) of $51.88 and should find resistance at its 200-day MA of $53.53.
In the last five trading sessions, the 50-day MA has climbed 1.68% while the 200-day MA has slid 0.2%.
Honeywell International Inc. is a diversified technology and manufacturing company with operations around the world. The Company provides aerospace products and services, control technologies, automotive products, and power generation systems. Honeywell also provides specialty chemicals, fibers, plastics, and electronic and advanced materials.
