Finance / United States
Honeywell Sells Distribution Unit To B/E Aerospace
June 2008 | In The NewsPhoenix, Arizona-based Honeywell Aerospace announced on June 9 that it will sell Consumables Solutions, its fastener distribution unit, to B/E Aerospace. The divesture comes as Honeywell's Aerospace division strives to focus on more advanced aircraft technologies. B/E Aerospace will pay at least US$800mn in cash, and the remainder in stock, for the unit, in a deal worth US$1.05bn. The Wellington, Florida-based company also signed a 30-year contract with Honeywell for the sale of Honeywell's fasteners, gaskets, and electrical parts. The deal is expected to close in the third quarter.
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