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Honeywell Completes Sale Of Its Consumables Solutions Business To B/E Aerospace

Written by thomas · Filed Under Aeronautics News 

July 28, 2008

thomas

PHOENIX, July 28 /PRNewswire-FirstCall/ — 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.

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