MORRIS TOWNSHIP, NJ -- Honeywell has reached a definitive agreement to sell the First Technology Safety & Analysis business (FTSA) to HgCapital, the European sector-focused private equity investor, for $87.3 million. The company expects the transaction to close during the first half of this year subject to regulatory review.

FTSA is a leading provider of crash test dummies, crash walls and instrumentation, as well as load cell products and strain gauge services primarily for the automotive industry. The business reported sales of $48.1 million for the fiscal year ending April 30, 2005.

Honeywell only recently acquired First Technology plc, on March 24. The company is comprised of three divisions, the Safety & Analysis Business as well as Gas Sensing and Automotive & Special Products (ASP) divisions. Honeywell plans to integrate the Gas Sensing business into its Automation and Control Solutions businesses and continues to assess the strategic fit of the ASP business.

"The underlying rationale of our acquisition of First Technology plc is to build on our leadership position in the high-growth hazardous gas detection industry," said Dave Cote, Honeywell chairman and chief executive officer. "FTSA is a leader in its industry and a valuable asset, but it does not represent a good strategic fit with the Honeywell portfolio. The opportunity to sell this business very shortly after the close of our acquisition of First Technology is attractive for Honeywell from both a financial and business integration standpoint."

For more information about Honeywell, visit: http://www.honeywell.com .

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