HONEYWELL ABANDONS DIVESTITURE PLANS AS GE MERGER LOOMS
MORRIS TOWNSHIP, N.J.
Honeywell says it is not moving forward with divesting its Friction Materials, Automotive Consumer Products Group, U.S. Security Monitoring and Pharmaceutical Fine Chemicals businesses. The company says the decision to discontinue these divestitures was based on its recent agreement to merge with the General Electric Co. Honeywell is a $24 billion diversified technology and manufacturing concern, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics; and electronic and advanced materials. The conglomerate employs approximately 120,000 people in 95 countries.
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