Honeywell Agrees to Acquire Sigma-Aldrich's Research Chemical Business

   By Ezequiel Minaya

Honeywell International Inc. said Tuesday that it has signed an agreement to acquire the Germany-based research chemical business of Sigma-Aldrich Corp., a U.S. supplier of laboratory testing materials, in a deal worth 105 million euros($119.5 million).

The business, based in Seelze, Germany, makes research chemicals and other materials used in new drug discovery and medical diagnostic testing, among other laboratory applications. The business will be folded into Honeywell's Fine Chemicals arm.

Further terms of the deal weren't disclosed. The agreement is pending regulatory review.

Darius Adamczyk, CEO of Honeywell Performance Materials and Technologies, said the deal will give Honeywell a broader line of inorganic chemicals and solvents for applications ranging from pharmaceutical drug discovery to medical diagnostic testing.

The transaction will bring three notable research chemical brands into the Honeywell stable, including Fluka, Hydranal and Chromasolv, which have a range of uses including drug synthesis, food, environmental, chemical and forensic testing.

Honeywell has made over 84 acquisitions in the 13 years under its chairman and chief executive David Cote, adding about $12 billion in annual sales and ending up with a stable of about 65 brands.

Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com

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(END) Dow Jones Newswires

October 20, 2015 07:33 ET (11:33 GMT)

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