Financial Release

FORT MILL, S.C., Aug. 30, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) today announced that it has completed its $1.5 billion acquisition of Intelligrated, a privately held leader in supply chain and warehouse automation solutions, which was previously announced in July.

"With the continued growth of e-commerce, retailers and supply chain companies need a range of enterprise solutions to enhance their operational accuracy, efficiency and safety," said John Waldron, president and CEO, Honeywell Safety and Productivity Solutions. "We welcome the talented Intelligrated team to Honeywell and look forward to bringing together their innovative automated material handling solutions and software with our data capture and workflow performance technology. Our offering will enable businesses to harness the power of the Industrial Internet of Things to optimize productivity and increase fulfillment speed."

Intelligrated's supply chain and logistics solutions include automated storage and retrieval systems, palletizers, robotics solutions, software and tote-handling systems. The business will be integrated into Honeywell Safety and Productivity Solutions and led by Intelligrated's co-founder Chris Cole, who will report directly to Waldron.

Honeywell Safety and Productivity Solutions provides technology that improves enterprise performance, enhances workplace safety and enables greater product design innovation. Customers rely on Honeywell's connected solutions to increase worker productivity, enrich operational intelligence with data-driven insights and provide real-time safety intelligence.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials.  For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. 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.

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SOURCE Honeywell