Honeywell Finalizes Acquisition Of RMG Group

BRUSSELS (AP) -- Honeywell International Inc. said Monday it completed its acquisition of RMG Group and its subsidiaries for roughly $400 million.

The deal, which was first announced June 25, is expected to strengthen Honeywell's position in the clean energy industry, specifically natural gas. RMG, based in Kassel, Germany, is a provider of natural gas measuring and control products, services and integrated solutions.

The unit will be folded into Honeywell Process Solutions, part of diversified manufacturer's Automation and Control Solutions.

RMG has estimated 2009 sales to be about $290 million.

Shares of Morristown, N.J.-based Honeywell fell $1.06, or 3 percent, to $34.81 in late morning trading.

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