Honeywell International plans to put Hand Held Products in hand, officials from both companies announced Monday.
Under terms of the $390 million acquisition, Hand Held will become a part of Honeywell's Security Group pending regulatory review.
Though its too early to forecast the impact on the Skaneateles Falls-based Hand Held, President and Chief Executive Officer Kevin Jost said the move targets growth for both companies.
“We're not announcing any changes to our activities anywhere in the world at this point,” Jost said. “Honeywell shares our view of the company and the industry possibilities.
“Really, it's about growth,” he said.
Hand Held's lines of retail, health care, utilities, transportation logistics and industry data collection and communication products made about $285 million in sales last year. The privately-held company expects record sales numbers this year, Jost said.
“Hand Held has demonstrated leadership in image-based technology, which is replacing laser-based legacy products,” Honeywell Security President Ben Cornett said in a press release.
“There's tremendous opportunity for us with Hand Held as global demand for information increases along the supply chain in health care industry and logistics.”
The 35-year-old Hand Held has built its name on Adaptus Imaging Technology-equipped bar code scanners and the Dolphin series of wireless computers used for asset tracking and supply chain management applications worldwide.
The U.S. Postal Service and national retailer Dillards are some of its most recognizable customers.
Hand Held employs about 635 in Skaneateles Falls, home to its sole manufacturing facility.
“It's a key point here that we are staying. We love what we're doing and we love the customers we serve,” Jost said. “This should be a big day for central New York.”
It was also an exceptional day for Honeywell, which will make its first move into the automatic identification and data collection sector with the acquisition, company spokeswoman Julie Franklin said.
The Honeywell portfolio already includes aerospace, automotive, building control and specialty material interests.
“We are more than delighted about the growth focus of this business and our ability to grow together,” she said, noting the key cultural similarities in the philosophies of both companies.
The acquisition should be completed within about 60 days.
Staff writer Shane Liebler can be reached at 253-5311 ext. 248 or shane.liebler@lee.net
The Hand Held Products file
Then: Founded 1972
Now: Headquartered in Skaneateles Falls with 18 locations and 980 employees worldwide
Product: Scanning and data tracking equipment
The Honeywell International file
Then: Company roots date back to 1885 in Minneapolis, Minn.
Now: Headquartered in Morris Township, N.J., with locations in 95 countries and more than 100,000 employees worldwide
Product: Various technology and manufacturing products
SOURCE: Hand Held and Honeywell
Though its too early to forecast the impact on the Skaneateles Falls-based Hand Held, President and Chief Executive Officer Kevin Jost said the move targets growth for both companies.
“We're not announcing any changes to our activities anywhere in the world at this point,” Jost said. “Honeywell shares our view of the company and the industry possibilities.
“Really, it's about growth,” he said.
Hand Held's lines of retail, health care, utilities, transportation logistics and industry data collection and communication products made about $285 million in sales last year. The privately-held company expects record sales numbers this year, Jost said.
“Hand Held has demonstrated leadership in image-based technology, which is replacing laser-based legacy products,” Honeywell Security President Ben Cornett said in a press release.
“There's tremendous opportunity for us with Hand Held as global demand for information increases along the supply chain in health care industry and logistics.”
The 35-year-old Hand Held has built its name on Adaptus Imaging Technology-equipped bar code scanners and the Dolphin series of wireless computers used for asset tracking and supply chain management applications worldwide.
The U.S. Postal Service and national retailer Dillards are some of its most recognizable customers.
Hand Held employs about 635 in Skaneateles Falls, home to its sole manufacturing facility.
“It's a key point here that we are staying. We love what we're doing and we love the customers we serve,” Jost said. “This should be a big day for central New York.”
It was also an exceptional day for Honeywell, which will make its first move into the automatic identification and data collection sector with the acquisition, company spokeswoman Julie Franklin said.
The Honeywell portfolio already includes aerospace, automotive, building control and specialty material interests.
“We are more than delighted about the growth focus of this business and our ability to grow together,” she said, noting the key cultural similarities in the philosophies of both companies.
The acquisition should be completed within about 60 days.
Staff writer Shane Liebler can be reached at 253-5311 ext. 248 or shane.liebler@lee.net
The Hand Held Products file
Then: Founded 1972
Now: Headquartered in Skaneateles Falls with 18 locations and 980 employees worldwide
Product: Scanning and data tracking equipment
The Honeywell International file
Then: Company roots date back to 1885 in Minneapolis, Minn.
Now: Headquartered in Morris Township, N.J., with locations in 95 countries and more than 100,000 employees worldwide
Product: Various technology and manufacturing products
SOURCE: Hand Held and Honeywell
The Citizens' Say
There are No comments posted.