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Honeywell International, Inc. Release date: July 2, 2008
Metrologic Builds on Acquisition of Hand Held Products, Adds Global Expertise, Technology
MORRIS TOWNSHIP, N.J., July 2, 2008 - Honeywell (NYSE: HON) today completed its acquisition of Metrologic Instruments, Inc., a leading manufacturer of laser and mobile imaging and remote scanning, for approximately $720 million.
Metrologic will be part of Honeywell Imaging & Mobility, a line of business within Honeywell Security. Honeywell Imaging & Mobility includes Hand Held Products, a leading manufacturer of imaging and mobility solutions, acquired by Honeywell last year.
"The Metrologic acquisition further positions Honeywell as a global leader in the dynamic enterprise mobility and imaging industry, a $16 billion marketplace with double-digit growth potential," said Ben Cornett, President, Honeywell Security. "Honeywell is now well positioned with strong customer relationships and compelling opportunities in rapidly expanding sectors such as retail, industrial and healthcare. The acquisition creates a comprehensive imaging and mobility portfolio, a more extensive distribution network, critical scale and global presence."
Based in Blackwood, New Jersey, Metrologic is a global provider of laser and imaging bar code scanners, including high performance linear and omni-directional laser scanners, fixed position and in-counter scanners, area imagers and rugged mobile computers. It developed the first handheld retail-based laser bar code scanner in 1975 and has continued to serve as a leader in innovation with nearly 500 patents in areas that include laser and imaging technology.
Metrologic incorporates a broad array of laser, holographic, vision-based, RFID and emerging technologies to create its best-in-class products and solutions. Its sophisticated imaging and scanning solutions serve a variety of retail point-of-sale, industrial, healthcare, inventory and distribution applications. Metrologic sells its products in more than 110 countries, and approximately 65 percent of Metrologic's business is with customers outside North America.
"As part of Honeywell, Metrologic is now better positioned to optimize our global product offering to the benefit of our customers worldwide," said Darius Adamczyk, president of the combined business. "The number of solutions we will be able to offer our customers will substantially increase as these two product offering and IP portfolios come together."
Honeywell International is a $37 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. For additional information, please visit www.honeywell.com.
Contacts: Media Jim Green (516) 577-2688 james.green@honeywell.com
Investor Relations Murray Grainger (973) 455-2222 murray.grainger@honeywell.com
Company Information:
Name: Honeywell International, Inc.
Address: 101 Columbia Rd.
City: Morristown
State: NJ
ZIP: 07960-4648
Country: USA
Phone: 800-707-4555
FAX: 973-455-4807
http://www.honeywell.com
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