By Susan A. Baird
PBN Web Editor
MORRIS TOWNSHIP, N.J., and OAK BROOK, Ill. – Honeywell International Inc. (NYSE: HON) has acquired Norcross Safety Products LLC, parent of Cranston-based North Safety Products Inc., for about $1.2 billion, the companies said today.
Norcross is one of the world’s largest providers of protective gear for hazardous work environments. Besides North Safety and Fibre-Metal Products Co. – a maker of hard-hats, welding helmets and other gear for the welding and heavy-industrial market that North Safety acquired in 2005 (READ MORE) – its brands include KCL, Morning Pride, Pro-Warrington, Salisbury and Servus.
Norcross also is known for its extensive distribution network, with more than 2,500 locations around the world.
The Illinois-based company will become Honeywell Safety Products, a new line of business within the Honeywell Life Safety Group, the companies said. Life Safety – a division of Honeywell’s $11 billion Automation and Control Solutions segment – previously has focused on smoke and fire detection, notification and fire-control systems, plus remote tracking of patient vital signs.
“Norcross offers us leading safety products with technology differentiation and one of the strongest, most recognizable brands in the industry,” Honeywell Life Safety’s president, Mark Levy, said in statement this morning. “As we initiate a robust integration process, we expect to maximize the sales potential of the Norcross portfolio by expanding the channels in which they are offered.”
“Norcross is an ideal fit for Honeywell,” he added. “Together, we combine rich histories of delivering safety products, services and technologies that meet customer needs, while complying with the very strict regulations that the industry demands.”
The news follows the announcement yesterday that Norcross has acquired Valencia, Calif.-based Swift First Aid for an undisclosed sum.
“Swift First Aid wanted to align itself with a market leader,” explained Greg Higgins, president of the first-aid-products provider. “North Safety Products’ recognition as a leader in first aid and personal protective equipment … will enable us to grow the market segment through additional channels.”
North Safety is also “very excited” about the acquisition, said Sid Ellis, the Cranston company’s president. “Swift is a recognized leader in the U.S. first-aid market. Combining North’s and Swift’s product offering with best-in-class service for our customers makes this a natural acquisition.”
North Safety Products Inc. – a division of Oak Brook, Ill.-based Norcross Safety Products LLC – is a developer, manufacturer and supplier of personal protective equipment to the construction, manufacturing, utility, military, public safety and other markets. It employs more than 2,000 people at its headquarters in Cranston and sales, distribution and manufacturing facilities in the United States, Canada, Mexico, Europe and China. For more information, visit www.NorthSafety.com or www.nspusa.com
Honeywell International Inc. (NYSE: HON) is a $37 billion diversified manufacturing and technology company serving the aerospace, control, automotive and other markets. For more information, visit www.honeywell.com .
