Technology giant Honeywell has signed a definitive agreement valued at approximately $260 million to acquire Enraf Holding B.V., a division of privately held Delft Instruments based in Delft, Netherlands.
The transaction is subject to regulatory approvals. Enraf is involved in the production of precision measurement equipment used for vessel tank storage, as well as other shore-based technology.
When asked about how the move will influence the company’s approach to the maritime market, Honeywell replied: “Since Enraf works in bulk storage then, yes, we will be concentrating on shipboard storage systems but we also have capabilities (with regards to) shore tankers.”
?This acquisition will strengthen our position in bulk storage as it allows us to provide our LNG customers (for example) an end to end solution including storage and distribution capabilities.”
The six groups within Enraf are: Enraf Terminal Automation (precision measurement systems and software for tank storage companies), Enraf Calibron Systems (small volume provers and liquid density meters), Enraf Contrec Ltd. (fuel Management Systems used by the petrochemical industry at bulk tank storage sites), Enraf Fluid Technology (custom-engineered explosion-proof precision blending and additive metering equipment), Enraf Marine Systems (level measurement systems for marine applications) and Enraf Tanksystem SA (mobile precision level measurement systems used on board ships).
Following regulatory approvals, Enraf will become part of the Honeywell Process Solutions (HPS) business unit. In 2006, Enraf had sales of approximately $130 million.
