https://finance.yahoo.com/news/honeywell-talks-sell-ppe-unit-194227720.html
About 500mil less than what they bought Sperian and North for. Originally bought North from Odessey. Wouldn’t be good news for any current Honeywell employee as Odessey owns PIP
No news but based on my previous knowledge and experience of the group it is going to be VERY VERY messy! Lot of skeletons there.
Any updated news ？
Anyone familiar with the buyer PIP? Seems we will be laid off very soon after the deal is done ,PPE emplyees are locked and can't apply any HON internal positions..
@uvni+1v8ZLxmt Honeywell has an active presence on this site, their actor is easily spotted along with a couple of regular fruit loops. If you ignore them you do get solid information on here. I grant you though, this is far less than 2 years ago when we had the mass talent exodus.
HOWEVER...... anyone with half a brain can predict where Honeywell is going in any of it's businesses and if it has not been been obvious already you always get an early indicator on here.
@umcr
Yes. Finally some accurate information from this site. Will there be more? Kind of doubt it.
You have your answer now. You were told it was coming.
Surewerx would take it for the right price, owned by PE and would make them relevant in the market place but would be a desperate move by then unless the put a lot of dollars into the business
Someone European might swoop in like a Globus that is owned by PE to get a foothold in US but doubt it
Would have to be a lot less than 1.5b. Miller is less than 50mil in sales, used to be around 100mil and still can’t ship. Uvex is being over taken by every competitor. When Uvex Europe hit the NA market through Hexarmor it was the final nail in the coffin. Howard Leight has not innovated anything in years and any differentiated product has been DQed. Fibre metal has been done for a while, the recall a several years ago wiped out a ton of market share and where way late the the type two game. Fendall has a great brand and a superior product on the market, but constant FDA/recall issues has plagued the 2000 for years. They have 3rd party all MFG so they should sell the brand. North, well Hon sc--wed up the respiratory business by dumping SCBA and selling off the license to the PAPR. Great APR that someone would want but the brand is definitely worth less without the complete package. Costs a lot in R&D in NIOSH to get all those categories back. Chemicals gloves used to matter but Salisbury gets all the R&D. Speaking of them, great gloves but let every competitor in the market because they can’t ship. They don’t make any of the clothing or face shields so not as valuable as you would think to most manufacturers. Someone would have to be in clothing and or faceshields and want the glove/line hose business.
Honeywell will probably just spin off and load up the debt as they won’t be able to find a buyer. They only have themselves to blame
Wild speculation:
Most likely buyer: Private equity who will run the brand for cash.
Possible competitors:
Ansell
KC - long shot
Dupont - even longer shot
Out:
3M - in trouble themselves and Anti-trust issues
MSA - Anti-trust issues
My speculation only, but with years in the PPE business.
Any reliable insights? PPE employee sitting in the dark here..
Who will be the buyer for PPE ？ TH announced currently no buyer ...
Yep, happening. They had to take half a billion of the price floated in April to shift it. Let that sink in.
it is real and done
Selling the PPE is floating around for several years.
@1yej+1v8ZLxmt no , seems this is a new one ,released on 12th Oct
are we talking about the yahoo finance report that references a bloomberg report from April? Doesnt look like any news at all
Intelligrated we know is on the list, surely PSS must be on the out too.
During the pandemic, HON re-tasked one of their vacant AERO-SBG buildings into a manufacturing site for PPE masks in Phoenix. To make deadlines, they hired from off the street and ran it 3 shifts a day for less than a year. Nothing but problems from some of the sketchiest people you've ever seen. There were fights in the employee parking lot and there was an OD in the building (bet that didn't make the HS&E metric board). The masks were never offered (either distributed nor sold) to the employees in adjacent buildings. No, we had to pay retail at wherever we could find cloth masks whereas HON was making KN-95 right next door. Another example of twisted logic.
I've heard that Hwell hasn't been able to meet shipping times on their PPE. I know someone that sells the Hwell line of PPE.
Basket case business from the time it was acquired with exception of gas sensors business which was dismantled.
Took them a long time to offload it. Their harder struggle is with the other units.
Not a shock. Vimal even said outright any business not aligned with the three priorities was fair game for divestiture.
Problem is, you have to be a fool to not be able to make solid profits selling PPE. It is a high to very high margin business.