HONEYWELL ENDS SEARCH FOR ADI VENTURE PARTNER
Honeywell Security and Fire Solutions (S&FS) announces that it has cancelled plans to find a joint venture partner for ADI, its security and low-voltage distribution company. Previously, Honeywell said it wished to find a strategic partner for ADI. The action was meant to confirm the distributor’s importance to Honeywell.
Roger Fradin, president of Honeywell Security and Fire Solutions, said in a November press statement, “This action is clearly an affirmation of ADI’s strategic importance to Honeywell.” The company offered no explanation for the change of plans.
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