Honeywell Announces Agreement to Acquire Hand Held Products Inc. - Imaging and Mobile Innovator



    
    Acquisition Provides Entry into Large and Growing Automatic Identification
    and Data Collection Marketplace, Expands Pervasive Wireless Technology
    Expertise
    

    MINNEAPOLIS, Oct. 15 /CNW/ -- Honeywell (NYSE:   HON) today announced it
has signed a definitive agreement to acquire Hand Held Products Inc., a
privately held Automatic Identification and Data Collection (AIDC) company
based in Skaneateles Falls, N.Y., for approximately $390 million. Hand Held
Products manufactures a range of data collection and communication products
designed for mobile, on-site, and transaction processing in retail,
healthcare, utilities, transportation, logistics and industry. The agreement
is subject to customary closing conditions, including regulatory review.
    Hand Held will become a part of Honeywell's Security Group within the
Automation and Control Solutions (ACS) business.  Hand Held had sales of
approximately $285 million in 2006.
    Roger Fradin, President and CEO of Honeywell ACS said, "Hand Held's
growth potential and strong positions in key vertical markets complement ACS'
existing wireless solutions.  Hand Held's 'customer first' mentality fits well
with our culture. Both cultures value innovation that drives our customers'
success."
    Hand Held's core products are bar code scanners and rugged mobile,
wireless computers that are used for asset-tracking, logistics execution and
supply chain management across diverse end markets. The company is perhaps
best known in its space for its line of mobile computing and imaging
technology used by the U.S. Postal Service, Dillard's and Veterans
Administration hospitals.
    "Hand Held has demonstrated leadership in image-based technology, which
is replacing laser-based legacy products," said Ben Cornett, President of
Honeywell Security. "There's tremendous opportunity for us with Hand Held as
global demand for information increases along the supply chain in healthcare,
industry and logistics; the outlook for the overall industry shows double-
digit growth."
    "Aligning with Honeywell -- one of the world's leading technology
companies -- gives us an unprecedented ability to develop best-in-class
solutions and deliver them to our customers," said Kevin Jost, President and
CEO for Hand Held Products. "Over the past three decades, we've built a
successful business around innovation focused on best serving customer needs
-- more recently we've developed a clear and compelling view of the future for
our customers and employees, which we believe can now be fully realized
through this exciting combination."
    Hand Held Products' portfolio includes well-known brands, such as its
Dolphin product series, which are lightweight and ergonomically designed
mobile computers that access, capture, and transmit real-time data wirelessly,
keeping enterprises connected to mission-critical data regardless of location.
Dolphin mobile solutions are found across a range of industries including
transportation, retail, healthcare, manufacturing, field services and
warehousing. Additionally, the company's full product line -- including an
extensive portfolio of handheld scanners, feature its proprietary Adaptus
Imaging Technology -- the industry's leading brand for image-based data
capture. Adaptus utilizes digital camera technology and sophisticated image
processing software to deliver high-performance barcode scanning and digital
image capture capabilities. With millions of units already installed, this has
proven to be important technology for retail, healthcare, transportation and
manufacturing. Hand Held (http://www.handheld.com) also offers services and
aftermarket technical support to customers in approximately 100 countries.
    Cornett added: "This acquisition creates an exciting adjacency for
Honeywell Security that will enable us to deliver even better technology and
solutions to customers.  We're enthusiastic about bringing both Hand Held and
Honeywell customers a broader selection of products and services."
    Honeywell International is a $34 billion 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. It is one of the 30 stocks that make up the Dow Jones Industrial
Average and is also a component of the Standard & Poor's 500 Index. For
additional information, please visit http://www.honeywell.com.
    This release contains "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act of 1934.  All statements, other
than statements of fact, that address activities, events or developments that
we or our management intend, expect, project, believe or anticipate will or
may occur in the future are forward-looking statements.  Forward-looking
statements are based on management's assumptions and assessments in light of
past experience and trends, current conditions, expected future developments
and other relevant factors.  They are not guarantees of future performance,
and actual results, developments and business decisions may differ from those
envisaged by our forward-looking statements.  Our forward-looking statements
are also subject to risks and uncertainties, which can affect our performance
in both the near- and long-term.  We identify the principal risks and
uncertainties that affect our performance in our Form 10-K and other filings
with the Securities and Exchange Commission.

    
     Contacts:
     Media                          Investor Relations
     Julie Franklin                 Murray Grainger
     (952) 656-1683                 (973) 455-2222
     julie.franklin@honeywell.com   murray.grainger@honeywell.com
    




For further information:

For further information: Media, Julie Franklin, +1-952-656-1683, 
julie.franklin@honeywell.com, or Investor Relations, Murray Grainger, 
+1-973-455-2222, murray.grainger@honeywell.com, both of Honeywell 
International Web Site: http://www.honeywell.com                 
http://www.handheld.com

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