MORRIS TOWNSHIP, N.J. (AP) -- Honeywell International Inc. said Wednesday that it will invest $33 million in its Baton Rouge, La., plant so it can produce a propellant the company has developed for use in cleaners, insulation, warning systems, marine navigation and novelty aerosols.
The industrial conglomerate said the investment will enable to 61-year-old factory to produce Honeywell HFO-1234ze, which it said has a global warming potential well below the threshold set by European authorities, on a commercial level. Production is to start in late 2013.
HFO-1234ze has been approved for use in foam and aerosols by the U.S. Environmental Protection Agency. It also is sold and used in Europe and Japan.
Honeywell is based in Morris Township, N.J.
Its stock climbed 28 cents to $59.74 in afternoon trading.