Honeywell Completes Sale Of Its Consumer Products Group Business To Rank Group Limited

Honeywell (NYSE: HON) today announced it has completed the sale of its Consumer Products Group (CPG) business to Rank Group Limited in a cash transaction valued at approximately $ 950 million.

The CPG business includes four leading consumer automotive brands: FRAM filters, Prestone antifreeze, Autolite spark plugs, and Holts car care products. CPG had reported 2010 sales of approximately $1 billion within Honeywell's Transportation Systems segment.

Rank Group is a New Zealand-based private company which invests across a variety of industries and aims to build and grow leading global businesses, including Reynolds Group Holdings, one of the largest packaging companies in the world.

November 29, 2011

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