Honeywell Acquires Air Products' LNG Process Technology and Equipment Business for $1.81B
September 30, 2024
Honeywell has completed the $1.81 billion cash acquisition of Air Products’ liquefied natural gas (LNG) process technology and equipment business. The divestiture transfers related assets, intellectual property, manufacturing capability (including the Port Manatee, Florida coil-wound heat exchanger facility) and approximately 475 employees to Honeywell as Air Products refocuses on its industrial gases and clean hydrogen growth strategy.
- Buyers
- Honeywell International Inc.
- Targets
- Air Products' liquefied natural gas (LNG) process technology and equipment business
- Sellers
- Air Products
- Industry
- Energy
- Location
- Pennsylvania, United States
- Transaction Type
- Divestiture
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