"This is a strong fit for us because wire and cable plays an integral role in so many Honeywell systems," said Ben Cornett, president of Honeywell Security. "It's also the glue behind the connected home, so this nicely complements our recent acquisition of FutureSmart Systems. In its industry segment, Genesis is recognized as an innovator and has an exceptional reputation for providing quality and value."
Genesis Cable has 270 employees at its office and factory in Pleasant Prairie, WI. The organization will be part of the Honeywell Security & Custom Electronics unit, which is a leading manufacturer of professional alarm systems and structured wiring products.
"We're very excited to be part of Honeywell," said Jim Coleman, president of Genesis Cable. "Our products provide the bandwidth that makes integration possible in homes and businesses. This will advance Honeywell's strategy of bringing together security, fire, sound, home theatre, voice, data and energy management."
the tiny glass chip embedded in their bodies means nightclub
patrons can turn up to the club without lugging around a
purse or wallet. So far injected RFID technology has battled
to escape comparisons with a prophesied “onboard” monetary
system described in the biblical book of Revelations. Only
about 10 people have opted to be embedded.
Andover Controls is a US market leader in providing building
controls and security services. The sale includes Andover
Controls, the core building automation business based in
Andover, Massachusetts, as well as Andover Controls' security
division consisting of Security International and Integral
Technologies, in addition to Andover's international subsidiaries
and affiliates. Andover Controls generated approximately
$US169 million of revenue and $US28 million of EBIT for the
year ended December 31, 2003.
Dave Wathen, President and CEO of the $US8 billion Balfour Beatty said: "The sale of Andover Controls is part of a process of focusing on, and of generating growth from, our core engineering and construction businesses. By repositioning our portfolio of businesses in the USA, Balfour Beatty will be able to more effectively target strategic sectors to our core business, improve our costs, effectiveness and overall ability to compete."
The report says the global RFID market is being restrained by lack of established industry standards; however, the market generated revenue totaling $1.7 billion in 2003, with projected revenues of $11.7 billion by 2010.
"A more structured standards framework is necessary to enable better innovations in technology and product development," says Frost & Sullivan Research Analyst Karthik Nagarajan.
"With the exception of electronic product codes (EPC), the industry is still fragmented in its choice of standards for emerging applications."
Frost and Sullivan says that there’s strong demand in established applications such as toll collection, security and access control, and automobile immobilization. Meanwhile, RFID-based solutions are also being promoted by the initiative shown by the Department of Defense, Wal-Mart Stores, and others in adopting the technology and making tagging mandatory for their numerous suppliers. In Australia, Coles is also looking at RFID.