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PAS, a supplier of software products and consulting services for the process industries, has sold its Advanced Control & Optimization (APC&O) business to Honeywell to becomepart of the Process Solutions division.
The transaction includes the linear and non-linear controls and optimization technologies, as well as all related customer contracts and personnel. “With this acquisition, we strengthen our offerings in the APC&O market” said Jack Bolick , President of Honeywell Process Solutions.
The divestiture of these assets by PAS streamlines the company’s portfolio and accelerates the development of its Alarm Management and Integrity Automation Asset Configuration Management businesses.
Meanwhile, parent company Honeywell International announced full-year 2006 sales increased 13 percent to $31.4 billion from $27.6 billion in 2005. Earnings per share were up 31 percent to $2.52 versus $1.92 in the prior year. Earnings per share growth was 30 percent.
The Process Solutions division had more than 17 percent orders growth in the Q4 2006 and announced several significant contract wins. And the Sensing and Controls division announced that in cooperation with Michelin, it has developed a pressure sensor that is a key component in the new Michelin eTire II monitoring system. The sensors incorporates wireless surface acoustic wave (SAW) technology that helps truck fleet managers accurately monitor tire pressure for improved fuel effi ciency and extended tire life.
