Honeywell Completes $1.81B Acquisition of Air Products LNG Solutions Unit
Summary
var ssdl = ssdl || {} ssdl.editorialMetaData = { Country : All, Region : All, company : , sector : lng_lpg, industry_sector : Upstream, audience : News, content_type : About the Industry, company_sentiment : Neutral, author : Jov Onsat, published_date : 2024-10-03, tag : Company_Mergers_Acquisitions_JVs,LNG_Trends,Technology, longevity : News, content_origin : Rigzone Staff, } Honeywell International Inc. has completed the purchase of Air Products and Chemicals Inc.’s liquefied natural gas (LNG) process technology and equipment business for $1.81 billion. For Air Products, the divestment helps the company “focus on its two-pillar growth strategy to profitably grow its core industrial gases and related equipment businesses, and to deliver clean hydrogen at scale”, it said in a separate statement. Last month Honeywell said it had consummated its takeover of CAES Systems Holdings LLC from Advent International for $1.9 billion in cash. “Honeywell will also benefit from the ability to introduce its existing offerings on new platforms, such as the Navy Radar (SPY-6) and UAS and C-UAS technologies”. “The acquisition brings differentiated software capabilities through the addition of three respected brands to Honeywells portfolio: LenelS2, a leader in commercial and enterprise access solutions; Onity, which offers electronic locks, specifically hospitality access and mobile credentials; and Supra, which specializes in cloud-based electronic lockboxes and scheduling software”, Honeywell said in a press release June 3.
