Honeywell to Purchase Maxon Corp.
Minneapolis, Minn.-based Honeywell has agreed to acquire Maxon Corp., a privately held industrial combustion controls business based in Muncie, Ind. Maxon manufactures a range of combustion burners, gas valves and engineered systems that provide industrial businesses with energy and environmentally efficient process heating solutions.
Maxon, which had sales of approximately $100 million in 2007, will become part of Honeywell’s Environmental and Combustion Controls (ECC) business. The business is expected to provide Honeywell with broader penetration in process heating applications, particularly in petrochemicals, power generation, biofuels and metals segments.