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Honeywell Announces Agreement to Acquire Sempra Generation’s Energy Services Group
Strengthens Honeywell Portfolio in Providing Energy Management Solutions for Government, Military and Commercial Customers
MINNEAPOLIS, March 27, 2006 – Honeywell (NYSE: HON) announced today that it has reached an agreement to acquire the energy services group of Sempra Generation, a subsidiary of Sempra Energy (NYSE:SRE), San Diego, Calif. The business will be integrated into Honeywell Building Solutions (HBS), a global provider of integrated building management and control systems, and energy management solutions. The deal is expected to close early in the second quarter of 2006. No terms of the transaction were disclosed.
“The acquisition of Sempra Generation’s energy services group expands sales coverage and expertise for HBS in key segments, and demonstrates our commitment to grow this business,” said Joe Puishys, president of HBS. “Rising energy costs present a significant challenge to our customers, and Honeywell Building Solutions is committed to helping them better manage those costs and maximize energy efficiency.”
Sempra Generation’s energy services group provides energy-performance-contracting solutions for federal, state and local government facilities, hospitals and healthcare facilities, colleges and universities, and other commercial entities. These services enable customers to lower their energy and operational expenses by improving efficiencies or generating alternative power. This group also designs, develops and manages construction of energy efficient facilities.
HBS is a global leader in the energy services industry, helping organizations conserve energy, optimize facilities and equipment, and improve security. As a pioneer in performance contracting, the company has completed more than 4,000 energy-saving projects, and delivered more than $3 billion in energy and operational savings to customers.
Sempra Generation’s energy services group has extensive experience in providing performance contracts to higher education and government customers on the federal, state and local levels, and has the expertise to successfully deliver large, complex energy conservation projects as well as design/build services for energy infrastructure projects.
For more information about Building Solutions, access www.honeywell.com/buildingsolutions
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