Honeywell Completes Sale of Its Consumables Solutions Business to B/E Aerospace
PHOENIX, July 28 - Honeywell Aerospace (NYSE:HON) announced today that it has completed the sale of its Consumables Solutions business to B/E Aerospace for $1.05 billion, consisting of $901.4 million in cash consideration and six million shares of B/E Aerospace common stock.
"Honeywell Aerospace is focused on delivering advanced technologies that help enhance the safety and security of global air travel," said Rob Gillette, Honeywell Aerospace President and Chief Executive Officer. "The sale of the Consumables Solutions business helps to better align our business with this strategic objective and positions us to continue to build on our great positions within the aerospace industry."
Consumables Solutions is a global distributor of aerospace fasteners and hardware, and provides custom logistics services to original equipment manufacturers, airlines, repair shops, flight service centers and distributors.
Honeywell International is a $38 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 http://www.honeywell.com/.
Based in Phoenix, Honeywell's $12 billion aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.
FCMN Contact: laura.knutelsky@honeywell.com
Source: Honeywell
CONTACT:
Media
Karen Crabtree,
+1-602-365-5255,
karen.crabtree@honeywell.com,
or Investor Relations
Murray Grainger,
+1-973-455-2222,
murray.grainger@honeywell.com,
both of Honeywell
Web site: http://www.honeywell.com/
