30 Dec 2004
COLONIAL HEIGHTS, Va. (Dec. 28)--Sun Capital Partners Inc. has completed its purchase of Honeywell International Inc.´s Performance Fibers business unit.
The terms of the transaction, originally announced Nov. 3, weren´t disclosed. Honeywell took a charge in its third quarter of $40 million related principally for the write-down of property, plant and equipment of the Performance Fibers segment, which it had classified as "assets held for disposal" as of June 30.
The business now will operate as Performance Fibers, with facilities in the U.S., France, South Korea and China producing high-performance industrial fibers and related materials.
Website of Sun Capital Partners.
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