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.
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