Fortune 100 company moves materials tech biz HQ to Houston
A nearly $10 billion division of Honeywell International that primarily caters to the oil and gas industry has moved its headquarters to Houston.
On August 11, Charlotte, North Carolina-based Honeywell announced its Performance Materials and Technologies (PMT) division had completed its relocation to the Westchase area's nearly 1.5 million-square-foot CityWestPlace office complex where the company already has operations.
PMT joins one its units, Honeywell's Process Solutions business, at CityWestPlace. The Process Solutions business and about 750 employees relocated there from 1250 Sam Houston Parkway South in 2019.
At CityWestPlace, PMT is adding a customer center where it can showcase automation products and services.
With the PMT relocation, Honeywell now employs more than 850 people in Houston. Representatives of Honeywell decline to say where PMT was previously based.
"Houston [is] a diverse and rapidly growing city, and locating our headquarters here will help us meet our long-term needs to recruit and retain premier talent in our industry. It will also allow us to build closer, more impactful relationships with our Texas-based customers," Vimal Kapur, the new president and CEO of PMT, says in a news release.
Before coming to Houston to take the reins of PMT, Kapur was president of CEO of Atlanta-based Honeywell Building Technologies. He has worked at Honeywell for more than three decades.
Houston Mayor Sylvester Turner says PMT's move to Houston offers another example of how the city is leading innovation in the global energy sector.
"As the energy capital of the world, Houston has the talent and expertise to amplify Honeywell's sustainability work. And with their focus on key components of the energy transition, including carbon capture, energy storage and hydrogen, Honeywell's PMT business unit will serve as a critical partner in Houston's effort to lead the energy transition," Turner says.
PMT provides performance chemicals and materials, process technology, and automation technology for an array of industries, including oil and gas. It posted net sales of $9.4 billion in 2020, down from $10.8 billion in 2019. Honeywell, a Fortune 100 conglomerate, reported net sales of $32.6 billion last year.
Competitors of PMT include ABB, BASF, Dupont, and Emerson Electric.