Honeywell To Acquire Zellweger Analytics; Enters Large and Growing Gas Detection Marketplace
NORTHFORD, Conn.--(BUSINESS WIRE)--April 18, 2005--Honeywell (NYSE: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.
"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 $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 of Zellweger Luwa. "We are very happy to have found this first-class industrial solution, which will ensure the further sustainable development 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, N.J., Honeywell's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average 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, 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.
David George,
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