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Honeywell Sells Indalex Aluminum for 425 Million

Honeywell acquired IAS in March, when it bought the U.K. industrial holding company Novar.Honeywell (NYSE: HON) today announced it completed the sale of Indalex Aluminum Solutions (IAS) to an affiliate of private investment firm Sun Capital Partners for $425 million in cash plus the assumption of pension and other liabilities.

Honeywell acquired IAS in March, when it bought the British industrial holding company Novar. The Morristown manufacturer and technology company previously disposed of another Novar business, Security Printing Services, in December 2005. Honeywell shares climbed $0.79 to $39.32 in afternoon trading.

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