IOP Acquires Honeywell Facility

Industrial Opportunity Partners of < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Chicago has acquired the assets of the Shelby, N.C.-based operating facility of Honeywell (NYSE: HON). IOP has renamed the business FAS Controls Inc., and says that it is a manufacturer of pressure switches, valves, circuit breakers, mechanical switches, coils and solenoids. No financial terms were disclosed for the deal, except that PNC Business Credit provided financing.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />