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Honeywell Closes First Technology Purchase

At least one of First Technology’s business units is back up for sale.Manufacturer Honeywell (NYSE: HON) in Morris Township has wrapped up its acquisition of First Technology, which provides gas sensors, automotive and specialty products, and safety and analysis services.

Honeywell will fold the gas-sensors business into its automotive and control solutions division. The acquisition will not only expand Honeywell’s products and offerings for gas detection, but also allow the company to leverage First Technology’s distribution network.

Still, First Technology’s other business segments may not remain long in Honeywell’s possession. The automotive and specialty-products division is being assessed for its fit with Honeywell’s automotive and control solutions arm. Meantime, advanced discussions are underway for the sale of First Technology’s safety and analysis business. Shares of Honeywell were up $0.42 to $42.94 in morning trading.

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