Strengthens Position in High-Growth Personal Protective Equipment Industry
MORRIS TOWNSHIP, N.J., 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 statements.
Robert C. Ferris
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