Honeywell says corrosion problems cost process control industries an average of $US50 billion ($A65.5 billion) per annum. InterCorr's SmartCET technology, said to be able to reduce these costs by up to 20%, will be integrated into Honeywell's Experion Process Knowledge System following the acquisition.
Honeywell says the reduced maintenance costs achieved with SmartCET will complement Experion's ability to increase unit productivity through minimising failures, avoiding unplanned downtime and increasing run time.
Financial terms of the proposed acquisition were not disclosed.
The transaction, subject to customary conditions, is expected to be completed in July 2005.
"Corrosion has traditionally been a niche industry, partly because it has only provided off-line, historical data for general corrosion," said InterCorr's chief executive officer Lars Jorgensen.
"With the combination of InterCorr's deep corrosion knowledge, SmartCET technology and Honeywell's vast process knowledge, we will take proactive corrosion control to a new level."