Honeywell Acquires Saia Burgess Controls, Manufacturer of Intelligent Building, Energy Controls

MINNEAPOLIS, Oct. 24, 2012 /PRNewswire/ -- Honeywell (NYSE: HON) announced today an agreement to acquire Saia Burgess Controls, a leading provider of  intelligent building controls, from Hong Kong-based Johnson Electric for $130 million.

Saia Burgess Controls' products and solutions include programmable controllers, touch-screen panels, electrical submeters, counters and timers for use in HVAC applications, energy management systems and machine and infrastructure controls.  These products and solutions enable multiple technologies to be operated and managed on a single device, such as a Web browser, simplifying and improving building management and automation for commercial and industrial enterprises. The transaction is expected to close by the end of January 2013 following customary regulatory reviews.

With 2011 sales of $93 million (fiscal year ending March 31, 2012), Saia Burgess Controls enhances Honeywell's intelligent building controls portfolio, which includes recently acquired INNCOM, as well as the Alerton, Centraline, E-MON, Trend, Novar Controls, Phoenix Controls and Tridium brands. In addition, the acquisition expands Honeywell's energy controls presence in Austria, Germany and Switzerland.

Based in Murten, Switzerland, Saia Burgess Controls has more than 300 employees and serves customers throughout Europe through a network of more than 500 system integrators.  It will be integrated into the commercial controls portfolio of Honeywell's Environmental and Combustion Controls (ECC) business.

"Saia Burgess Controls' innovative products enhance Honeywell's portfolio of commercial controls and energy efficiency technology and builds on our expertise in open control systems," said Beth Wozniak, president-ECC. "In addition, its commitment to the system integrator channel – a sales channel we also support – is a great fit for us. We expect to drive growth through cross-selling opportunities and by leveraging Saia Burgess Controls' offerings into our other channels."

The acquisition also gives Honeywell a common global platform on which to drive growth in electrical submeters, which are used by building owners to better manage their energy consumption. Honeywell's E-MON submeter brand is focused on North America, while Saia Burgess Controls' offering is targeted to Europe, Middle East and Africa.

Honeywell ECC provides connected products that help keep 150 million homes, 10 million commercial buildings and a multitude of industrial facilities comfortable and energy efficient. ECC customers include original equipment manufacturers, commercial customers, homeowners, contractors, retail, building managers, consulting engineers and distributors.

Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.

SOURCE Honeywell