Honeywell expects acquisition of Elster to close in 2015

Elster is a 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. The acquisition is expected to close earlier than anticipated following approval by Melrose shareholders and required regulatory approvals, including those in the US, European Union, and China. "The acquisition of Elster adds outstanding technologies, strong well-recognized brands, energy efficiency know-how, and a global presence to the Honeywell portfolio," said Honeywell Chairman and CEO Dave Cote. "We see Elster as a great opportunity to deploy HOS Gold to drive new growth and greater profitability in each of Elster's businesses. This acquisition is expected to generate strong future returns for our shareowners, consistent with what you have come to expect from Honeywell." Elster's gas heating and gas, water, and electricity metering businesses will be integrated with Honeywell's Environmental & Energy Solutions business (E&ES), part of Honeywell Automation and Control Solutions.