Honeywell buys Dimensions International |
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Tue, 22 May 2007 16:29
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PHOENIX (AP) - Diversified industrial conglomerate Honeywell International Inc. said Tuesday that it has agreed to acquire Dimensions International, a defense logistics company, for $230 million.Alexandria, Va.-based Dimensions provides logistics support for the U.S. military and other agencies located at military facilities in the Middle East and throughout the world.The company will be integrated into Honeywell Technology Solutions Inc., a Honeywell subsidiary, to boost the company's field support, equipment pre-positioning, depot maintenance and vehicle repair, overhaul and up-armoring offering, Honeywell said.Dimensions International, which employs 1,200 people, expects 2007 sales of about $173.5 million. The company's Sentel subsidiary is not part of the acquisition, Honeywell said.Honeywell shares fell 55 cents to $57.75 in morning trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Honeywell to buy defence logistics co Dimensions International for 230 mln usd 