NEW YORK (AP) - Honeywell says it will sell a unit that makes aerospace
fasteners and provides logistical services to B/E Aerospace for $1.05 billion,
including at least $800 million in cash and the rest in B/E common stock.
Morristown, N.J-based Honeywell International Inc. said Monday the deal is
expected to close in the third quarter.
The Honeywell unit distributes aerospace fasteners and hardware, and
provides custom logistics services to original equipment manufacturers,
airlines, repair shops, flight service centers and distributors. The business
generated 2007 revenue of $524 million.
B/E Aerospace Inc. is based in Wellington, Fla., and says it expects to
enter a 30-year contract to become Honeywell's exclusive licensee in this area.
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AP Business Writer Jennifer Malloy in New York
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