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In July, IAMC charter member Phil Hammel was named global director of real estate services for Honeywell Corp. Working out of the company's southern California office, Hammel is responsible for all services provided by the Honeywell Real Estate Center of Expertise, among them the identification and sale of surplus real estate, the management of new factory and building construction and the negotiation of major office and plant leases for the company's business groups. His team also contributes to the company-wide effort to cut operating expenses through its "Facilities Cost Attack Teams." Hammel joined Honeywell in 1993 after serving as director of real estate & facilities for Unisys Defense Systems. (Unisys Corp. Corporate Director of Real Estate Operations Richard J. L'Ecuyer serves on the IAMC Board of Directors.)
In July, Lehigh Valley, Pa.-based Air Products and Chemicals announced that it will build a 40-million-standard-cu.-ft.-per-day hydrogen facility at its existing operation in New Orleans, La., to support Murphy Oil USA, Inc.'s new hydrocracker in Meraux, La. Expected to be online by the third quarter of 2003, the natural gas-based hydrogen steam methane reformer will supply Murphy with the hydrogen required to produce lighter, cleaner transportation fuels from heavier feedstocks. The facility is the 18th to be built through the company's partnership with French petrochemical engineering, construction and services firm Technip-Coflexip, a relationship recently extended through 2011. Richard E. "Rick" Leighton, an IAMC member, is manager of real estate and space planning for Air Products and Chemicals.
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Masco Corp., the home improvement and building product parent of growing division Delta Faucet, is not only expanding, but acquiring. In two announcements in June and September, the company said it had acquired a total of nine new companies, spending more than $1 billion in stock and cash. The new Masco family includes four firms in the United Kingdom, California-based plumbing product maker Newport Brass, and four new installation and distribution partners that widen the company's geographic and product coverage. Masco's Director of Property Management David L. Hirsch is an IAMC board member.
German chemical giant BASF, employer of IAMC board member Bill Pearson, director of real estate, has been issued a business license enabling its new Chinese subsidiary to go ahead with the construction of the world's largest integrated production facility for polytetrahydrofuran (PolyTHF) and tetrahydrofuran (THF) in the Shanghai Chemical Industry Park in Caojing/Shanghai, China. Expected to come online in 2004, the facility will have an annual capacity of 66,000 tons of PolyTHF and 88,000 tons of THF. Worldwide demand for PolyTHF, an important component in the manufacture of elastic fibers, elastomers and polyurethanes, is estimated at more than 220,000 tons. BASF already has production facilities for both substances in Korea and Japan.
Minneapolis-based filtration product manufacturer Donaldson Company has completed an expansion of its WUXI China facility, adding a 10,000-sq.-ft. Class 100 cleanroom. Jim Martin, director of real estate, construction & asset management for Donaldson, serves as an IAMC board member. The company's most recent U.S. project was the building of a central distribution center in the 1990s in Rensselaer, Ind.
The newly merged ChevronTexaco Corp.'s portfolio includes some of the largest oil and natural gas reserves on the planet and more than 25,000 retail outlets, as well as extensive technology and R&D operations. So real estate management is playing a leading role in helping the company achieve startlingly quick merger-related synergies. In June the company reported that it had increased its merger-related synergy target to $2.2 billion, an annual before-tax rate to be achieved by April 2003. "By streamlining the organization, consolidating facilities, integrating systems, sharing best practices and leveraging global procurement opportunities, we've been able to surpass our initial targets and do so ahead of schedule," said ChevronTexaco Vice President and CFO John Watson. ChevronTexaco Business & Real Estate Services Manager for Projects & Consulting Dennis Triplitt is an IAMC member.
Ingersoll-Rand Corp. is headquartered in Woodcliff Lake, N.J. (pictured), home office for James A. Sladack, vice president of real estate and an IAMC member. But the company's newest organization, IR International Ltd. (IRI), is now forming in Dublin, Ireland. The new arm, which will function as the global operations center for all IR businesses, is now operating out of temporary headquarters on the grounds of its transportation climate control subsidiary Thermo King in Dublin. IRI will be responsible for all of IR's export processes, including sales order management, commercial export inventory management, export financial processes and technology support. Implementation of sector and business operations will begin by the end of this year and be complete in December 2003. The launch of the organization is a crucial step in achieving the company's strategy, announced in November 2001, of becoming a $20-billion enterprise by 2005.