For Release: Immediately
HONEYWELL SIGNS AGREEMENT TO ACQUIRE LEBOW
Expands Honeywell's Sensing and Control portfolio
MINNEAPOLIS - (Aug. 1, 2005) - Today Honeywell (NYSE: HON) announced an agreement to acquire Lebow Corporation, a leading manufacturer of automotive and aerospace force and torque sensors, and load cells based in Troy, Mich. Lebow will become part of Honeywell's Sensing & Control business unit. Consummation of the transaction is subject to certain customary closing conditions and is expected to occur during the third quarter of 2005. Terms of the transaction were not disclosed.
"The acquisition of Lebow expands our offering of load-cell products, but even more exciting is it takes us to an entirely new level in our offering of torque sensors," said Ron Sansom, president of Honeywell's Sensing and Control group. "Ultimately, this acquisition significantly increases solutions we offer customers in the test-and-measurement world."
Honeywell's Sensing and Control manufactures sensors, switches, machine safeguarding and other devices for a variety of original-equipment-manufacturer applications in automotive, aviation, medical, information technology, consumer appliance and industrial businesses.
Other recent acquisitions made by Honeywell's Sensing and Control business unit include Sensotec in 2003 and Invensys Sensor Systems in 2002.
Honeywell Sensing and Control is a business unit of Honeywell Automation and Control Solutions, a global leader in providing product and service solutions to create efficient, safe, and comfortable environments in homes, buildings and industry. For more information about Sensing and Control, please visit www.honeywell.com/sensing. For more information about Honeywell ACS, access www.acs.honeywell.com.
Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com.
This release may contain forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.
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