HONEYWELL COMPLETES ACQUISITION OF AIR PRODUCTS' LIQUEFIED NATURAL GAS PROCESS TECHNOLOGY AND EQUIPMENT BUSINESS

Core Insights - Honeywell has completed the acquisition of Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion, enhancing its energy transition capabilities and offering a comprehensive suite of solutions for customers [1][2] Group 1: Acquisition Details - The acquisition adds approximately 475 skilled employees to Honeywell's Energy and Sustainability Solutions business, focusing on driving energy transition [1] - This acquisition is part of Honeywell's disciplined capital deployment strategy, marking the fourth acquisition in 2024, aimed at high-return opportunities aligned with megatrends in automation, aviation, and energy transition [2] Group 2: Enhanced Offerings - Honeywell's full-service solution now includes natural gas pretreatment, liquefaction, and digital automation technologies integrated under the Honeywell Forge and Experion platforms, along with Air Products' coil-wound heat exchangers technology [2] - The integration of the LNG business is expected to provide customers with greater efficiency and reliability in managing their liquefied natural gas assets [2] Group 3: Company Overview - Honeywell operates across various industries and geographies, focusing on three megatrends: automation, the future of aviation, and energy transition, supported by its Honeywell Accelerator operating system and Honeywell Forge IoT platform [3]