SHEL - Honeywell's $1.81B Power Play: Acquires Air Products' LNG Tech to Lead Energy Transition | Benzinga
Honeywell International Inc (NASDAQ:HON) has agreed to acquire Air Products And Chemicals, Inc.’s (NYSE:APD) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction.
This acquisition, which is approximately 13 times the estimated 2024 EBITDA, will significantly enhance Honeywell’s energy transformation offerings.
The acquisition will enable Honeywell to offer a comprehensive solution for managing energy transformation, including natural gas pre-treatment and advanced liquefaction technologies.
These services will be integrated under the Honeywell Forge and Experion platforms, providing efficient and reliable management of natural gas assets.
Honeywell’s existing pre-treatment solutions for LNG customers will be complemented by Air Products’ portfolio, which includes the design and manufacturing of coil-wound heat exchangers (CWHE) and related equipment.
CWHEs are known for their high throughput and compact, reliable operations both onshore and offshore.
Honeywell ...