Honeywell (HON) To Acquire The RMG GROUP For Approximately $400 Million
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Honeywell (NYSE: HON) has signed a definitive agreement valued at approximately $400 million USD to acquire the RMG GROUP (RMG Regel + Messtechnik GmbH and all of its subsidiaries, together RMG) a Kassel, Germany-based company involved in natural gas measuring and control products, services and integrated solutions. RMG will be integrated into Honeywell Process Solutions, which is part of Honeywell's Automation and Control Solutions business group. RMG has estimated 2009 sales to be $290 million USD.
The acquisition of RMG supports Honeywell's strategy to offer solutions that enhance energy efficiency; nearly 50% of Honeywell's current technology delivers energy savings and efficiency. Natural gas is a clean fuel alternative that is becoming increasingly popular in both mature and emerging markets around the world.
Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company. The Company operates in four business segments: aerospace, automation and control solutions, specialty materials, and transportation systems. [SM]
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