Aerospace and industrial conglomerate Honeywell Inc. is to buy the remaining 50% stake in its UOP joint venture from Dow Chemical Co. for $825 million, subject to regulatory approvals. UOP's technologies are used to process petrochemicals. The deal marks the first major acquisition for Honeywell's specialty materials business, which has spent much of the last four years divesting mature, slow-growth operations in an effort to increase profitability.
04-Oct-05 
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