Honeywell to buy Invensys Sensor Systems for $415 million

08/21/2002


Morris Township, NJ; London, U.K.— To strengthen its offerings in high-growth segments, Honeywell and Invensys plc announced Aug. 19 that Honeywell Automation and Control Solutions (ACS) has agreed to acquire Invensys Sensor Systems (Shelby, NC) for $415 million in cash, pending regulatory approval and other conditions.

Invensys Sensor Systems is a global supplier of sensors and controls used in the medical, office automation, aerospace, HVAC, automotive, off-road vehicle and consumer appliance industries. Invensys Sensor Systems has 2,700 employees and operates 13 manufacturing facilities in six countries, including the U.S., U.K., China, Mexico and the Czech Republic.

Invensys Sensor Systems will become part of the Automation and Control Products unit of Honeywell ACS.

'The acquisition of Invensys Sensor Systems strengthens Honeywell's product offerings in the high-growth medical and automotive on-board segments,' says David Cote, Honeywell's chairman and ceo. 'Customers worldwide will benefit from our improved ability going forward to deliver advanced technologies and solutions to meet their needs. Invensys Sensor Systems has a strong technology and quality driven culture and a talented workforce, and we are excited about bringing these employees into Honeywell.'

Honeywell has been involved in sensing for more than 60 years, and it presently serves customers worldwide in the aviation, information technology, industrial, automotive on-board and consumer appliance industries.

'We identified Sensor Systems as a non-core business during the Invensys strategy review, and we're pleased with the speed at which we have been able to reach agreement with Honeywell,' says Rick Haythornthwaite, Invensys plc's ceo. 'Sensor Systems and Honeywell make a good strategic fit, and I am confident that the Sensor Systems business will continue to prosper under its new ownership.'

Control Engineering Daily News Desk
Jim Montague, news editor
jmontague@reedbusiness.com





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