Honeywell Corp. Divests Itself of 2 Companies
MORRIS TOWNSHIP, N.J.
Honeywell has narrowed down its properties with the sale of
its U.S. security printing business and its European
cabling manufacturer. At the close of October, Honeywell
sold Clarke American to M&F Worldwide Corp. for $800
million and cable manufacturer Brand-Rex Ltd. to The Gores
Group LLC for undisclosed terms.
Clarke American, which provides secure check services to
financial institutions, was the remaining noncore business
remaining from the TARGET=’_blank’>acquisition late last year of Novar
plc. The transaction paves the way for the final
integration of Novar’s Intelligent Building Systems (IBS)
into Honeywell’s Automation and Control Solutions (ACS)
business that includes Honeywell Security.
Honeywell also let go of Scotland-based Brand-Rex, which
designs and manufactures cabling in the European market.
Honeywell recently announced plans to HREF=’t_ci_newsView.cfm?nid=2548′ TARGET=’_blank’> expand
its U.S. cabling business, Genesis Cable.
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