Honeywell To Acquire Zellweger Analytics; Enters Large and Growing Gas Detection Marketplace.NORTHFORD, Conn. -- Honeywell (NYSE NYSE See: New York Stock Exchange :HON) today announced its intention to acquire Zellweger Analytics, a global leader in hazardous gas detection technology. The transaction is subject to regulatory approval and is expected to close in the second quarter of 2005. Acquisition terms were not disclosed. Based in Uster, Switzerland, Zellweger Analytics is a leading manufacturer of toxic and flammable gas detection systems. The company has nearly 40 years of experience in the design and manufacture of innovative gas detection products for use in semiconductor, industrial and oil and gas industries. Zellweger Analytics' products help ensure the safety of employees, protect high-value assets and prevent costly plant shutdowns. Zellweger Analytics maintains offices throughout Europe, Asia-Pacific and in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "The gas detection industry is a growing, billion dollar industry and Zellweger Analytics is a well-established and respected company in this market," said Mark Levy, president of Honeywell Life Safety. "By acquiring Zellweger Analytics, Honeywell has the opportunity to enter the worldwide gas detection marketplace with a leading brand portfolio and a large international customer base." Zellweger Analytics' gas detection technology offers Honeywell a strong complement to its existing fire systems and sensors portfolio and will greatly enhance its sensing and detecting capabilities. After the acquisition, Zellweger Analytics, which has annual sales of approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $170 million, will become part of the Life Safety business unit within Honeywell Automation and Control Solutions. "This is a great opportunity for Zellweger Analytics, its distributors and our end users," said Konrad Peter, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Zellweger Luwa. "We are very happy to have found this first-class industrial solution, which will ensure the further sustainable development Sustainable development is a socio-ecological process characterized by the fulfilment of human needs while maintaining the quality of the natural environment indefinitely. The linkage between environment and development was globally recognized in 1980, when the International Union of our outstanding gas detection business," said Peter. Levy concluded, "There is a rising demand for gas detection solutions in industries where potentially hazardous chemicals and gases exist. As part of Honeywell, Zellweger Analytics will have access to complementary technologies and sales channels, enabling the business to further develop additional, innovative gas detection technologies, which will greatly benefit customers." Honeywell International is a $26 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 There are several places named Morris Township in the United States:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion