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Questor Partners Fund II To Acquire Honeywell's Brake Products

6 September 2000

Questor Partners Fund II To Acquire Honeywell's Brake Products Business

    SOUTHFIELD, Mich. & MORRIS TOWNSHIP, N.J.--Sept. 5, 2000--

    Bendix(R), JURID(TM), RoadTuff(R) Brands Serve Global
    Truck, Automobile And Other Transportation Industries;
    Annual Revenues of Group Approximately $1 Billion

    Questor Partners Fund II, L.P. and Honeywell announced today that they have reached an agreement in principle for Questor to acquire Honeywell's Friction Materials business, which supplies brake products to a wide range of transportation industries. Terms of the transaction were not disclosed.
    The business, which has annual sales of approximately $1 billion, manufactures and markets disc brake pads, drum brake linings and other brake products for both original equipment manufacturers and the automotive aftermarket. The business also distributes brake fluids and parts as well as other braking components. The brand names involved include Bendix(R), JURID(TM) and RoadTuff(R), and the products are used in passenger cars, light-, medium- and heavy-duty trucks, trailers and other transportation applications. Honeywell will retain the right to use the Bendix(R) name in some applications outside the Friction Materials business.
    The Friction Materials business is a separate business unit from the Bendix Commercial Vehicle Systems business, which will remain a part of Honeywell.