Honeywell Divests Stake in Savannah River Nuclear Solutions JV

Honeywell International Inc HON has exited its stake in the Savannah River Nuclear Solutions joint venture by selling its membership interests to partners Fluor Corporation FLR and Huntington Ingalls Industries, Inc. HII. The financial terms were not disclosed.

"We are confident that Fluor and Huntington Ingalls will continue to deliver long term value to the Savannah River Site as a significant portion of its scope shifts to major capital construction and start-up of plutonium production activities. Honeywell remains deeply committed to the success of the Department of Energy and will continue to partner with them on opportunities that align with Honeywell's core capabilities and strategic objectives," said David Johnson, VP of Honeywell Federal Solutions.

Last month, Honeywell agreed to buy Saab AB SAABY heads-up-display (HUD) assets for use in several avionics offerings for undisclosed terms.

Price Action: HON shares are trading lower by 0.48% at $206.50 on the last check Monday.