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Honeywell signs 3-year deal with Shanghai Haishun
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NEW YORK - Honeywell International Inc. said Thursday it signed a three-year deal with Shanghai Haishun Packaging Material Co. to supply the Chinese company with moisture-barrier films for pharmaceutical packaging.
Honeywell said the deal is part of its effort to expand into the Chinese pharmaceutical market. It said the films will be made at its plant in Pottsville, Pa.
Honeywell did not provide a value for the contract.
Shares of Honeywell fell $2.71, or 8.7 percent, to $28.29 in afternoon trading.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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