30 June 2009
Honeywell deals for natural gas instrument maker
Honeywell will pay $400 million to acquire Kassel, Germany-based RMG Group, a maker of natural gas measuring and control products.
RMG will become a part of the Honeywell Process Solutions unit, which is part of Honeywell’s Automation and Control Solutions business group.
Starting up in 1931, RMG focuses on the design and making of natural gas control, measurement, and analysis equipment including flow metering technology, regulating products, and safety devices for oil and gas companies. In addition, the company offers services and integrated solutions.
RMG estimated 2009 revenues are $290 million.
“Global demand for gas, specifically clean energy sources like natural gas, is growing, and RMG is an established solution provider in the industry,” said Norm Gilsdorf, president of Honeywell Process Solutions. “RMG’s technology complements our industrial platform and will ultimately enable us to provide our existing customers, as well as new customers, with broader solutions that span the entire gas supply chain.”
The acquisition will enhance Honeywell’s presence in the natural gas transportation, storage, distribution, and industrial consumption arenas.
“Our business, customers, and employees will benefit from becoming part of Honeywell,” said Dr. Henning Bähren, chief executive RMG Group. “Honeywell’s industrial offerings will allow us to create enhanced automation and control solutions for all of our customers worldwide.”
For related information, go to www.isa.org/instruments.