Honeywell Buying Saia Burgess Controls
MORRIS TOWNSHIP, N.J. (AP) -- Technology and manufacturing company Honeywell International Inc. said Wednesday it agreed to buy Saia Burgess Controls for $130 million.
Saia Burgess controls is based in Switzerland and it is owned by Johnson Electric Group of Hong Kong. Honeywell said the company makes programmable controllers, touch screen panels, counters and timers used in heating, ventilation, and air conditioning, and energy-management systems. It said Saia Burgess had about $93 million in revenue in the fiscal year ended March 31.
Shares of Honeywell fell 7 cents to $61.48 in morning trading.