Honeywell has announced that it had terminated discussions with Federal-Mogul regarding the possible sale of its friction materials business, which manufactures and markets the well-known aftermarket brand Bendix. Honeywell will instead tighten ties to the business.
The Federal-Mogul deal fell apart after several months of negotiations as the parties were unable to agree on terms of a deal.
Now Honeywell has reported that the friction materials division will remain part of Honeywell and will become closely aligned with the company’s business initiatives and operating plan. The business has annual sales of nearly $800 million U.S according to Honeywell.
According to Joe Puishys, president of Honeywell Friction Materials, the company is in the process of making investments in both the aftermarket and OE segments of the business.
“Advertising, technology, new product launches and staffing key positions are a priority for us and we aim to increase growth and profitability this year,” said Puishys.
In the coming months, Honeywell said it will make significant investments in its manufacturing operations in addition to launching an integrated supply chain program.
Puishys said customers will see improvements to the Bendix premium friction products this year due to cutting-edge technology developed in support of recent OE wins.
“We have also added nearly 300 models to our Bendix premium loaded caliper line in the last year and we’re adding almost 200 models to our new Fleet HP rotor line,” Puishys said. “We are extending our premium line of hydraulics and drums/rotors with 150 new part numbers and, on our premium friction, we released more than 30 new part numbers in 2003.”
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