(RTTNews) - Diversified manufacturer Honeywell International Inc. (HON: News ) said Thursday that it has agreed to buy the Germany-based RMG Group, comprising of RMG Regel + Messtechnik GmbH and all of its subsidiaries, in a deal valued at about US$400 million.
RMG, which specializes in the design and manufacture of natural gas control, measurement and analysis equipment including flow metering technology, regulating products and safety devices for oil and gas companies, has estimated 2009 sales to be US$290 million.
Morristown, New Jersey-based Honeywell said the acquisition will build its presence particularly in the areas of natural gas transportation, storage, distribution and industrial consumption.
RMG aligns strongly with Honeywell's field instrumentation and control solutions. RMG's gas flow meters and regulating devices complement Honeywell's pressure and temperature transmitters as well as liquid natural gas level gauges.
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