Honeywell completes sale of friction material business

Honeywell says it has completed the sale of its Friction Materials (FM) business to Federal-Mogul for approximately $155 million. The transaction does not include the Bendix name or line of products or business in the U.S. In addition, joint ventures that operate in Australia, Thailand, and Malaysia will be retained as ...

Honeywell selling friction materials unit to Federal-Mogul

Citing an ill-fit with the company's focus and long-term strategy, Honeywell announced Tuesday that it has reached an agreement to sell its Friction Materials business unit to Federal-Mogul Corporation for approximately $155 million. Honeywell will continue to operate its friction business as usual with no planned changes in staffing, ...

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