Honeywell Strengthens Portfolio
Honeywell announced it has completed the acquisition of the RMG Group (RMG Regel + Messtechnik and all of its subsidiaries, together RMG) for approximately $400 million. The acquisition strengthens Honeywell's position in the high-growth clean energy industry, specifically natural gas.
Based in Kassel, Germany, RMG is a global leader in natural gas measuring and control products, services and integrated solutions. RMG will be part of Honeywell Process Solutions (HPS), a business within Honeywell's Automation and Control Solutions group. RMG aligns strongly with Honeywell's extensive portfolio of field instrumentation and control solutions.
"This acquisition brings great value to both Honeywell and RMG customers in the natural gas production supply chain," said Norm Gilsdorf, president of HPS. "The integration of RMG products into the Honeywell portfolio enables us to provide more comprehensive solutions that can reduce installed, operating and engineering costs and improve our customers' performance. In addition, the deal provides significant opportunity to grow within our existing customer bases in both mature and emerging markets around the world."
