Honeywell Worldwide Inc. has accomplished the acquisition of Air Merchandise and Chemical substances Inc.’s liquefied pure gasoline (LNG) course of expertise and gear enterprise for $1.81 billion.
“Honeywell’s full-service answer now offers prospects a holistic providing that encompasses pure gasoline pre-treatment, state-of-the-art liquefaction and digital automation applied sciences unified underneath the Honeywell Forge and Experion platforms, in addition to the addition of Air Merchandise’ coil-wound warmth exchangers expertise”, Charlotte, North Carolina-based Honeywell stated in a press release.
Honeywell president and chief govt Ken West stated, “The acquisition of Air Merchandise’ LNG course of expertise and gear enterprise strengthens Honeywell’s power transition portfolio and can allow our prospects to handle their liquefied pure gasoline belongings with better effectivity and reliability”.
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Asserting the settlement July 10, 2024, Honeywell stated, citing a Deloitte report, “The LNG market has quadrupled over the previous 20 years and is predicted to double over the subsequent twenty years, pushed by demand in key finish markets together with energy and knowledge facilities”.
The all-cash settlement consists of the switch of about 475 staff of Allentown, Pennsylvania-based Air Merchandise to Honeywell.
For Air Merchandise, the divestment helps the corporate “concentrate on its two-pillar development technique to profitably develop its core industrial gases and associated gear companies, and to ship clear hydrogen at scale”, it stated in a separate assertion.
That is the fourth acquisition introduced by Honeywell this 12 months. “The corporate is concentrated on high-return acquisitions that can drive future development throughout its portfolio, which is aligned with the three compelling megatrends of automation, the way forward for aviation and power transition”, it stated.
Final month Honeywell stated it had consummated its takeover of CAES Programs Holdings LLC from Creation Worldwide for $1.9 billion in money.
“CAES expands Honeywell’s present protection and area portfolio with scalable choices that allow Honeywell to each improve manufacturing and improve positions on crucial platforms that embrace F-35, EA-18G, AMRAAM and GMLRS”, Honeywell stated in a press launch September 4. “Honeywell may also profit from the power to introduce its current choices on new platforms, such because the Navy Radar (SPY-6) and UAS and C-UAS applied sciences”.
Earlier Honeywell accomplished its $4.95 billion buy of World Entry Options. “The acquisition brings differentiated software program capabilities by way of the addition of three revered manufacturers to Honeywell’s portfolio: LenelS2, a pacesetter in industrial and enterprise entry options; Onity, which affords digital locks, particularly hospitality entry and cell credentials; and Supra, which makes a speciality of cloud-based digital lockboxes and scheduling software program”, Honeywell stated in a press launch June 3.
On March 27 Honeywell introduced an settlement to accumulate navigation expertise supplier Civitanavi Programs SPA in a EUR 200 million ($220.7 million) inventory transaction.
“The acquisition will additional strengthen Honeywell’s capabilities to assist its prospects create autonomous operations in plane and different automobiles”, it stated then.
To contact the writer, e mail jov.onsat@rigzone.com
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