Honeywell Completes Acquisition of Sperian ProtectionBy Honeywell, PRNE
Tuesday, September 14, 2010
Strengthens Position in High-Growth Personal Protective Equipment Industry
MORRIS TOWNSHIP, New Jersey, September 15, 2010 - Honeywell (NYSE: HON) today announced it has completed its acquisition of
Sperian Protection for approximately USD $1.4 billion, including the
assumption of net debt. Sperian Protection is a leading provider of personal
protective equipment (PPE), and will be combined within Honeywell's
Automation and Control Solutions' Life Safety business.
"Sperian Protection is an excellent fit for Honeywell," said Mark S.
Levy, President and CEO of Honeywell Life Safety. "With highly developed
product lines, well-recognized brands and a strong global distribution
channel, Sperian complements and significantly strengthens Honeywell's
position in the personal protective equipment segment. The addition of
Sperian will enable Honeywell to further capitalize on the significant
opportunities presented by this high-growth industry."
With nearly 50 years of experience in the research, design, and
manufacture of safety technologies, Sperian's expertise is focused on head
protection (eye and face, hearing, respiratory), body protection (clothing,
gloves, safety footwear), and fall protection. Sperian brands include Howard
Leight, Miller, and UVEX (only in the Americas) as well as Sperian.
Headquartered in Paris, France, Sperian employs over 6,000 in facilities
throughout 13 countries in the Americas, Asia-Pacific, Europe, and Africa.
Honeywell (www.honeywell.com) is a Fortune 100 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. For more news and information on
Honeywell, please visit www.honeywellnow.com.
This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 21E of the
Securities Exchange Act of 1934. All statements, other than statements of
historical fact, that address activities, events or developments that we or
our management intends, expects, projects, believes or anticipates will or
may occur in the future are forward-looking statements. Such statements are
based upon certain assumptions and assessments made by our management in
light of their experience and their perception of historical trends, current
economic and industry conditions, expected future developments and other
factors they believe to be appropriate. The forward-looking statements
included in this release are also subject to a number of material risks and
uncertainties, including but not limited to economic, competitive,
governmental, and technological factors affecting our operations, markets,
products, services and prices. Such forward-looking statements are not
guarantees of future performance, and actual results, developments and
business decisions may differ from those envisaged by such forward-looking
Honeywell Contacts: U.S. Media Investor Relations Robert C. Ferris Elena Doom +1-973-455-3388 +1-973-455-2222 firstname.lastname@example.org email@example.com Europe Media Ilse Schouteden +32-47-620-9019 firstname.lastname@example.org
Honeywell Contacts: U.S. Media, Robert C. Ferris, +1-973-455-3388, rob.ferris at honeywell.com, or Investor Relations, Elena Doom, +1-973-455-2222, elena.doom at honeywell.com, or Europe Media, Ilse Schouteden, +32-47-620-9019, ilse.schouteden at honeywell.com
Tags: Honeywell, Morris township, new jersey, Scandinavia, September 15, Western Europe