Honeywell Acquires Air Products’ LNG Process Technology and Equipment Business for $1.81 Billion
September 30, 2024
Honeywell has agreed to acquire Air Products’ liquefied natural gas (LNG) process technology and equipment business in an all-cash transaction valued at $1.81 billion. The deal adds LNG natural gas pre-treatment and liquefaction capabilities, including coil-wound heat exchanger (CWHE) technology, to Honeywell’s existing LNG offerings. The transaction was completed on Sept. 30, 2024, with related assets, intellectual property, manufacturing capability, and personnel transferring to Honeywell.
- Buyers
- Honeywell
- Targets
- Air Products' liquefied natural gas (LNG) process technology and equipment business
- Sellers
- Air Products
- Industry
- Industrial Services
- Location
- Pennsylvania, United States
- Transaction Type
- Divestiture
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