Honeywell Completes Sale of SPS Unit

//December 16, 2005//

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The $800 million sale of Clarke American is the second non-core Novar business sold off by Honeywell.Morris Township-based Honeywell (NYSE: Hon), a $26 billion manufacturer, has completed the previously announced sale of Clarke American, its security printing services (SPS) business, to M&F Worldwide for $800 million. M&F acquired all of the stock of Novar USA, the parent of the SPS business operated by Clarke American and other companies.

The deal represents the second non-core Novar business sold off by Honeywell. The sale of Indalex Aluminum Solutions (IAS) is slated to close in early 2006. In September, Honeywell sold IAS to Sun Capital Solutions for $425 million and the assumption of liabilities. Honeywell stock gained $0.13, or 0.34%, to $38.09 in morning trading.