Honeywell Buys Assets From Ballard's Unmanned Aerial Vehicle Business for Undisclosed Amount
October 15 2020 - 9:47AM
Dow Jones News
By Dave Sebastian
Honeywell International Inc. said it has acquired assets from
Ballard Power Systems Inc.'s unmanned aerial vehicle business in
Southborough, Mass.
Ballard said it is divesting the non-core assets to focus on
heavy- and medium-duty motive markets of bus, truck, train and
marine.
The Ballard unit designs and makes systems that power unmanned
aerial systems, including those used for energy inspection, cargo
delivery and other commercial and defense settings. Honeywell said
it would have rights to intellectual property, inventory and
equipment of the assets.
Ballard's fuel-cell experts will also join Honeywell Aerospace
as part of the acquisition, the companies said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 15, 2020 09:32 ET (13:32 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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