Honeywell Completes Acquisition of Hand Held Products, Inc.
Minneapolis, MN, December 20, 2007 – Honeywell (NYSE: HON) today
announced it has completed the acquisition of Hand Held Products, Inc., a
privately held Automatic Identification and Data Collection (AIDC) company, for
approximately $390 million.
Hand Held will become a new line of business, called Honeywell Imaging and
Mobility, within Honeywell’s Security Group.
“This is a great investment for Honeywell. Hand Held significantly strengthens
and broadens Honeywell’s portfolio, particularly in wireless innovation and the
high-growth data collection and communication space,” said Ben Cornett,
President of Honeywell Security. “Hand Held is poised for growth, with strong
positions in key vertical markets that complement ACS’s existing technology and
“Becoming part of Honeywell begins a new and exciting chapter for Hand Held,”
said Kevin Jost, President, Honeywell Imaging and Mobility business. “By
joining one of the world’s leading technology companies, we will be able to
deliver greater value and a more comprehensive offering of world-class
solutions to our customers.”
Honeywell International is a $34 billion diversified technology and
manufacturing leader, serving customers worldwide with aerospace products and
services; control technologies for buildings, homes and industry; automotive
products; turbochargers; and specialty materials. Based in Morris Township,
N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock
Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial
Average and is also a component of the Standard & Poor's 500 Index. For
additional information, please visit www.honeywell.com.
This release contains “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of fact, that address activities, events or developments that we or
our management intend, expect, project, believe or anticipate will or may occur
in the future are forward-looking statements. Forward-looking statements are
based on management’s assumptions and assessments in light of past experience
and trends, current conditions, expected future developments and other relevant
factors. They are not guarantees of future performance, and actual results,
developments and business decisions may differ from those envisaged by our
forward-looking statements. Our forward-looking statements are also subject to
risks and uncertainties, which can affect our performance in both the near- and
long-term. We identify the principal risks and uncertainties that affect our
performance in our Form 10-K and other filings with the Securities and Exchange
Contact Us If you have
additional questions or would like more information.