Honeywell Completes Acquisition of Dimensions International

PHOENIX, July 3 /PRNewswire-FirstCall/ -- Honeywell (NYSE:HON) announced today that it has completed its acquisition of defense logistics leader Dimensions International for $230 million after recently receiving regulatory approval.

Dimensions International is being integrated into Honeywell Technology Solutions Inc., a wholly-owned subsidiary of Honeywell, to bolster the company's capability for field support, equipment pre-positioning, depot maintenance and vehicle repair, overhaul and up-armoring. The acquisition expands Honeywell's ability to provide logistics support for the U.S. military at facilities in the Middle East and throughout the world.

"We are pleased to complete the acquisition of Dimensions International," said Ed Wheeler, President, Honeywell Defense and Space. "Honeywell's proven integration process begins in earnest now, enabling us to provide a comprehensive, cost-competitive total logistics solution to more effectively support the Department of Defense's efforts to address equipment reset challenges."

Honeywell International is a $33 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 and Chicago 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 contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

    Media Contact:                          Investor Relations:
    Jim O'Leary                             Murray Grainger
    602.365.5930                            973.455.2222
    jim.o'leary@honeywell.com               murray.grainger@honeywell.com

Source: Honeywell

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