Honeywell (NASDAQ: HON) recently announced the completion of the acquisition of Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in cash, further expanding Honeywell's industry-leading solutions for customers to help them in their energy transformation journey.

Today, Honeywell's comprehensive solutions provide customers with a complete product portfolio, including natural gas pretreatment, advanced liquefaction technology, digital automation technology based on interconnected services and the Experion platform, as well as Air Products' Coil-wound Heat Exchanger (CWHE) technology.

"The acquisition of Air Products' liquefied natural gas process technology and equipment business strengthens Honeywell's energy transformation product portfolio, enabling our customers to manage their liquefied natural gas assets more efficiently and reliably." Ken West, President and CEO of Honeywell's Energy and Sustainable Technologies Group, said, "The integration of the liquefied natural gas business will empower Honeywell to provide comprehensive, scalable solutions, offering a higher level of full-process energy transformation management."

This marks Honeywell's fourth acquisition completed in 2024 as part of its rigorous capital deployment strategy. The company focuses on high-return acquisitions to drive future growth of its portfolio and align with the three major development trends of automation, future aviation, and energy transformation.

About Honeywell

Honeywell is a Fortune Global 500 high-tech enterprise, with business revolving around three major development trends: automation, future aviation, and energy transformation. Relying on the Honeywell Accelerator Operation System and the Honeywell Connected Software Platform, the company provides a wide range of technology and services to multiple industries worldwide. As a trusted partner, Honeywell helps customers tackle challenging and complex global challenges through the Aerospace Hi-Tech Holding Group, Smart Industry Technology Group, Smart Building Technology Group, Energy and Sustainable Technology Group, offering practical and innovative solutions to make the world more intelligent, secure, reliable, and sustainable. In China, Honeywell implements the 'East Serves East' global strategy to drive business development through local innovation. Currently, all business groups of Honeywell are established in China, with Shanghai being the headquarters of Honeywell Asia Pacific. For more company information, please visit the Honeywell China website, or follow Honeywell's official Weibo and WeChat accounts.