Honeywell Agrees to Terms of Settlement
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From Bloomberg News
Honeywell International Inc. and plaintiffs representing about 90% of the asbestos complaints against the company agreed to settlement terms, creating a trust that would cover any current and future damage awards.
Honeywell and its former North American Refractories Co. unit reached a deal with 236,000 claimants. The trust calls for claimants to be paid within four years and caps the amount of future claims.
Honeywell shares fell 10 cents to $25.05 on the NYSE.
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