Genesis Cable Chief Gives More Details on Joining Honeywell
PLEASANT PRAIRIE, Wis.
For many at Genesis Cable Systems, it wasn’t a surprise when minority owner Honeywell announced it would be buying its remaining interest in the wiring supplier. Genesis Cable President Jim Coleman, in his first comments since Honeywell purchased Genesis for undisclosed terms on June 2, says the deal has seemed like a natural fit since Honeywell inherited a 30-percent stake in Genesis with its 1999 purchase of Pittway Corp.
“The strategy that Honeywell has is that Honeywell makes so many products that are ultimately connected to cable,” Coleman told Security Sales & Integration of the deal, which he says has been in the works for more than a year-and-a-half. “Our business is right in the middle of an enormous growth period. It was an excellent time for Honeywell to do this.
“We manufacture 3-gigabit cables. We’ll give them all the bandwidth they’ll ever need.”
Coleman says Genesis’ customers shouldn’t expect much in the way of changes other than the brand name on their cables. In the coming months, there will be a transition period where Genesis’ name will give way to “Honeywell Security” branding.
“I don’t think anything will change in terms of management or our fundamental approach to the marketplace,” Coleman says. “The difference will be in who owns the shares.”
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