BRUSSELS, Aug. 17 /PRNewswire-FirstCall/ -- Honeywell (NYSE: HON) today announced it has completed the acquisition of the RMG GROUP (RMG Regel + Messtechnik GmbH and all of its subsidiaries, together RMG) for approximately $400 million USD. The acquisition strengthens Honeywell's position in the high-growth clean energy industry, specifically natural gas.
Based in Kassel, Germany, RMG is a global leader in natural gas measuring and control products, services and integrated solutions. RMG will be part of Honeywell Process Solutions (HPS), a business within Honeywell's Automation and Control Solutions group. HPS provides automation and control systems, safety systems, simulation technology, wireless technology and integrated facility and process security systems for industrial process manufacturers. RMG aligns strongly with Honeywell's extensive portfolio of field instrumentation and control solutions.
"This acquisition brings great value to both Honeywell and RMG customers in the natural gas production supply chain," said Norm Gilsdorf, president of HPS. "The integration of RMG products into the Honeywell portfolio enables us to provide more comprehensive solutions that can reduce installed, operating and engineering costs and improve our customers' performance. In addition, the deal provides significant opportunity to grow within our existing customer bases in both mature and emerging markets around the world."
Honeywell International (www.honeywell.com) is a Fortune 100 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. For more news and information on Honeywell, please visit www.honeywellnow.com. Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access www.honeywell.com/ps.
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