Honeywell Stock Rises After $1.8B Liquified Natural Gas Technology Deal

Honeywell (HON) is continuing to shop for deals, announcing plans Wednesday to bargain nan liquified earthy state (LNG) process exertion and instrumentality business from Air Products & Chemicals (APD) for $1.81 cardinal successful rate successful its 4th acquisition of nan year.

The move, expected to adjacent by nan extremity of nan year, gives Honeywell entree to Air Products’ coil-wound power exchangers, which supply “the highest throughput of earthy state successful a azygous exchanger” pinch a minimal c footprint, nan institution said. 

Shares of Honeywell were precocious up much than 1%. Air Products' shares edged higher.

Deal 'Will Help Meet Ever-Increasing' Energy Demands

"While nan world continues to build nan renewables-based power infrastructure of nan future, earthy state is simply a captious lower-emission and affordable modulation substance that will thief meet ever-increasing and move world power demands," Honeywell Chief Executive Officer (CEO) Vimal Kapur said. 

Air Products’ LNG section employs astir 475 workers pinch office in Allentown, Pa., and operates a 390,000-square-foot manufacturing installation successful Port Manatee, Fla. 

The move will thief Air Products "grow our halfway business state business and related exertion and equipment, and to beryllium a first-mover delivering cleanable hydrogen astatine standard to decarbonize business and heavy-duty proscription sectors," its CEO Seifi Ghasemi said.