Honeywell Automation India’s parent company has signed a definitive agreement to acquire the Elster Division of Melrose Industries for approximately $5.1 billion. The acquisition is expected to occur in the first quarter of 2016. The acquisition of Elster will generate strong future returns for company’s shareowners because it increases company growth profile globally - creating both organic and inorganic growth opportunities.
Elster is a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions. It also manufactures flow computers and regulators for the gas industry.
Honeywell Automation India, a Fortune 100 company, has presence in 70 countries and offers products and services around aerospace, defence, automation, control systems, performance materials and transportation systems.