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Industry: Email Alert RSS FeedHoneywell Divests Stake of Hoosick Falls Copper Foil Unit to Partner.(Mitsui Mining and Smelting Co. Ltd takes overe Oak-Mitsui Inc.)(Brief Article)
CircuiTree, December, 2000
Albany, NY-Oak-Mitsui Inc., which had belonged to both Mitsui Mining and Smelting Co. Ltd. and Honeywell International, now is Mitsui's alone. The company announced that Mitsui bought Honeywell's stake for an undisclosed sum. No immediate effect on employment or operations are expected at Oak-Mitsui, which employs about 160 workers in Hoosick Falls, NY and another 110 in California and South Carolina.
Mitsui's president, Shimpel Miyamura, called the purchase from Honeywell "a key strategic move." His former business partner, Honeywell chief executive Michael Bonsignore, said Honeywell now will concentrate on advanced electronic materials and power management, leaving the copper-foil making to Mitsui. (Source: Times Union, Albany, NY, 10/03/00)
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