Honeywell Sells Onboard Sensor Products Business for $140 Million-Image via Wikipedia
Honeywell, the Fortune 100 diversified technology and manufacturing leader announced on October 28, 2010 that it has reached a definitive agreement with Sensata Technologies of Almelo, Netherlands to sell its’ automotive onboard (AoB) sensor products business for $140 million.
With annual sales of approximately $130 million, Honeywell’s AoB sensor products business is a component of Honeywell’s Sensing and Control unit. Manufacturing a variety of sensors, which are sold to automotive suppliers and auto manufacturers around the world, the products include transmission, vane, vehicle pressure, cam and crankshaft, position and wheel speed sensors.
Supplying custom-engineered sensors, switches, machine safeguarding and other devices offering enhanced precision, durability and repeatability to a variety of original equipment manufacturing applications in the medical, industrial, aerospace, transportation, and test and measurement segments Honeywell Sensing and Control is world leader.
“This divestiture is consistent with Sensing and Control’s strategy to focus on our core segments, including industrial, medical, aerospace, test and measurement; and the broader transportation segment,” said Beth Wozniak, president of Sensing and Control. ”These segments present attractive, profitable growth opportunities that enable us to differentiate with technology on a global basis. The AoB products will be a great fit with Sensata, which is a major provider of sensor components to the automotive sector.”
The transaction between Honeywell and Sensata, subject to regulatory approvals, is expected to close early in 2011/
