28 June 2007

Honeywell deals for instrument maker

Honeywell will pay $260 million to acquire Enraf Holding B.V., a division of privately held Delft Instruments based in Delft, Netherlands. The transaction is subject to regulatory approvals.

Enraf Holding consists of six groups covering transportation, storage, and blending operations in the oil and gas industry.

Enraf will integrate into Honeywell’s Process Solutions’ (HPS) unit. Enraf had sales of $130 million last year.

“Enraf has a proven track record of growth both organically and through strategic acquisitions,” said Jack Bolick, HPS President. “We are confident the synergies resulting from this transaction will deliver similar results in HPS.”

Enraf’s six groups are: Enraf Terminal Automation, which makes precision measurement systems and software for tank storage companies; Enraf Calibron Systems, which makes small volume provers and liquid density meters; Enraf Contrec Ltd., which makes fuel management systems used by the petrochemical industry at bulk tank storage sites; Enraf Fluid Technology, which makes custom-engineered explosion-proof precision blending and additive metering equipment; Enraf Marine Systems, which makes level measurement systems for marine applications; and Enraf Tanksystem SA, which makes mobile precision level measurement systems used on board ships.

“Enraf will enable us to deliver a more comprehensive automation solution in energy production, processing, transport, storage, and product distribution,” Bolick said.

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