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Honeywell acquires gas treatment firm

3:03 PM MDT | October 22, 2012 | Rebecca Coons

Honeywell says it has acquired a 70% stake in Thomas Russell, a Tulsa, OK-based provider of skid-mounted modular packaged plants systems for the recovery and upgrading of natural gas liquids (NGLs), for $525 million in cash. The deal expands Honeywell subsidiary UOP's portfolio of products for shale and conventional natural gas producers, which already includes technology, equipment and materials used to treat and process natural gas as well as to purify hydrogen used in refineries. UOP's gas technologies extract contaminants such as water, mercury, sulfur and...

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