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Honeywell Sells Printing Unit

M&F Worldwide will buy a printing business for $800 million.
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(HON) - Get Free Report

agreed to sell Clarke American, its security printing services business, to New York licorice producer

M&F Worldwide


for $800 million in cash.

Under the agreement, M&F Worldwide will acquire all of the stock of Novar USA, the parent company of the business operated by Clarke American.

Last month, Honeywell, a New Jersey-based diversified manufacturing company, reached a deal to sell another noncore part of Novar, Indalex Aluminum Solutions. Honeywell finished the acquisition of Novar PLC earlier this year and had been planning to divest both Indalex and the printing services operation.

Shares of Honeywell were up 31 cents to $33.91. M&F Worldwide closed Friday at $16.14.