Honeywell Enters Into Agreement to Divest PPE Unit for $1.33B in Cash
Honeywell plans to sell its personal safety protective equipment business to PIP Company.
This transaction will help Honeywell further streamline and optimize its business, resonating with the three major trends of automation, future aviation, and energy transformation. It will facilitate Honeywell to continue driving profitable growth and generate strong cash flow, creating significant long-term value for shareholders. Charlotte, North Carolina, USA, November 25, 2024 / PRNewswire / - Honeywell (NASDAQ: HON) recently announced that it has agreed to sell its Personal Protective Equipment (PPE) business for 1.325 billion USD in an all-cash transaction to Odyssey Investment.
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Honeywell will sell its personal protective equipment business for approximately $1.33 billion.
Gelonghui November 25th | Honeywell announced last week that it will sell its personal protective equipment (PPE) business to the American protective equipment company Protective Industrial Products for approximately 1.33 billion cash, in order to further streamline its operations. After activist investor Elliott Investment acquired over 5 billion usa dollars' worth of Honeywell shares, the possibility of selling the PPE business was disclosed. Since taking office last year, Honeywell CEO Vimal Kapur has been committed to adjusting the company's investment portfolio to adapt to the automatic