Advertisement

Honeywell Inc. has filed a $350-million lawsuit...

Share

Honeywell Inc. has filed a $350-million lawsuit against Unisys Corp. accusing the giant computer manufacturer of artificially inflating the financial strength of four aerospace operations that Honeywell purchased from Unisys for more than $1 billion in 1986. Unisys filed a similar suit in New York City in September, seeking $565,000 that it said was due under the sales agreement. Honeywell already has taken a $27-million writeoff for what it called unrecoverable contract costs. Last month, Honeywell said there would be further writeoffs in the quarter ending Sept. 30.

Advertisement