Honeywell has acquired Air Products’ liquefied natural gas (LNG) process technology and equipment business worth USD 1.81bn.
Headquartered in Pennsylvania, US, Air Products’ LNG business unit encompasses an extensive portfolio that includes in-house design and production of coil-wound heat exchangers (CWHE) and associated equipment.
Through the acquisition, Honeywell aims to provide customers with an extensive solution for managing their energy transformation journey.
By leveraging digital automation technologies unified under the Honeywell Forge and Experion platforms, the new offering will include natural gas pre-treatment and state-of-the-art liquefaction.
The full-service solution is expected to facilitate efficient and optimised management of natural gas assets to deliver better value and support.
Honeywell currently delivers a pre-treatment solution serving LNG customers across the globe.
Subject to customary conditions, including receipt of regulatory approvals, the transaction is anticipated to be completed before the end of 2024.