Tuesday, June 26, 2007

Honeywell to Acquire Enraf for $260M

Aerospace and electronics manufacturer Honeywell International announced today that it has agreed to pay $260 million for Enraf Holding B.V., a division of Dutch firm Delft Instruments. Honeywell said Enraf Holding consists of six groups—Enraf Terminal Automation, Enraf Calibron Systems, Enraf Contrec Ltd., Enraf Fluid Technology, Enraf Marine Systems and Enraf Tanksystem SA—that manufacture equipment for the oil and gas industry. Honeywell added that Enraff reported gross sales of some $130 million in 2006 and, pending regulatory approvals, will become a part of Honeywell’s Process Solutions division, which is based in Phoenix, Arizona. Honeywell International is one of the largest employers in Arizona.