Honeywell acquires Sperian for $1.4 billion

on Thursday, September 16, 2010

Honeywell acquires Sperian for $1.4 billionHoneywell has announced the completion of its acquisition of Sperian Protection for approximately $1.4 billion, including the assumption of debt.

Honeywell is a Fortune 100 company that develops and manufactures technologies in safety, security, and energy. Sperian Protection, which provides personal protection equipment, will be merged with Honeywell's Automation and Control Solutions' Life Safety business to strengthen Honeywell's personal safety offerings.

Sperian, which is headquartered in Paris, has been manufacturing safety equipment including eye, ear and face protection, gloves and safety footwear for more than 50 years.

"Sperian Protection is an excellent fit for Honeywell," said Mark S. Levy, President and CEO of Honeywell Life Safety. "With highly developed product lines, well-recognized brands and a strong global distribution channel, Sperian complements and significantly strengthens Honeywell's position in the personal protective equipment segment. The addition of Sperian will enable Honeywell to further capitalize on the significant opportunities presented by this high-growth industry."

According to ABC News, Honeywell has also been eyeing business opportunities in China, where the company expects a 15 to 20 percent growth year-over-year for the next five years.

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