Honeywell Sells Security Printing
At the close of October, Honeywell sold Clarke American to M&F Worldwide Corp. for $800 million and cable manufacturer Brand-Rex Ltd. to The Gores Group LLC for undisclosed terms. Clarke American, which provides secure check services to financial institutions, was the remaining noncore business remaining from the acquisition late last year of Novar plc. The transaction paves the way for the final integration of Novar’s Intelligent Building Systems (IBS) into Honeywell’s Automation and Control Solutions (ACS) business that includes Honeywell Security. Honeywell also let go of Scotland-based Brand-Rex, which designs and manufactures cabling in the European market. Honeywell recently announced plans to expand its U.S. cabling business, Genesis Cable.