Finance / United States
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Honeywell Sells Distribution Unit To B/E Aerospace
June 2008 | In The NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Phoenix, 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.