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by Stephanie Neil, MA Editorial Staff
Posted on Tuesday, October 01, 2002 12:00:00 AM Sign Up to receive Daily News Alerts in your E-mail Inbox   Honeywell Automation and Control Solutions (ACS) has agreed to buy Invensys plc's Sensor Systems business for $415 million in cash. The sale corresponds with Invensys' need to divest non-core but profitable businesses as a way to reduce debt and improve capital. Honeywell, which considers sensing a strategic business, views the acquisition as a way to expand and strengthen its presence in high-growth markets such as medical and automotive. It will become part of the Automation and Control Products unit of ACS. In a separate corporate move, Terry Sutter, president of Honeywell's Industry Solutions group, left the company to join New Jersey-based Cytec Industries Inc. as president of the Specialty Chemicals business. [Click to continue]  |
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