Honeywell to acquire majority stake in Thomas Russell for $525 mln

Oct 1 (Reuters) - Honeywell International Inc said its UOP unit would acquire a 70 percent stake in Thomas Russell Co, a privately held provider of technology and equipment for natural gas processing, for $525 million.

UOP, a supplier and licensor for industries like petroleum refining and gas processing, will also have the right to acquire the remaining 30 percent stake in the Tulsa, Oklahoma-based company, Honeywell said in a statement.

Honeywell said the deal would not impact its 2012 earnings per share, but expects it to add to its 2013 profit.

(Reporting by Bijoy Koyitty in Bangalore; Editing by Sreejiraj Eluvangal)

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