SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 27, 1996
Honeywell Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-971 41-0415010
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
Honeywell Plaza
Minneapolis, Minnesota 55408
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(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 951-1000
Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events.
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On November 27, 1996, the Registrant issued a News Release reporting on
recent developments in the previously reported lawsuit involving American
Flywheel Systems, Inc. A copy of the News Release is filed herewith as Exhibit
99(i). Further information regarding this matter is set forth in Part II, Item
1 of the Registrant's Quarterly Report on Form 10Q for the quarter ended
September 29, 1996, as filed with the Commission on November 13, 1996.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits:
99(i) Honeywell Inc. News Release dated November 27, 1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HONEYWELL INC.
By: /s/ Edward D. Grayson
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Edward D. Grayson
Vice President and
General Counsel
Date: December 12, 1996
INDEX TO EXHIBITS
Exhibit No.
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99(i) Honeywell Inc. News Release dated November 27, 1996 Page (i)
Exhibit 99(i)
FOR IMMEDIATE RELEASE
From: Jan Almon
Honeywell Satellite Systems Operation
19019 N. 59th Ave.
Glendale, AZ 85308
(602) 561-3493
JURY RETURNS VERDICTS TODAY IN CASE BETWEEN
HONEYWELL SATELLITE SYSTEMS OPERATION AND
AMERICAN FLYWHEEL SYSTEMS, INC.
PHOENIX, ARIZONA - November 27, 1996 _ In litigation between Honeywell Inc.
Satellite Systems Operation (SSO) and American Flywheel Systems, Inc. (AFS)
involving a technology development contract, a Phoenix jury today returned three
verdicts against Honeywell which total $38 million dollars and one verdict in
favor of Honeywell for relief which will be determined by the court.
The case stemmed from the development contract signed in 1993 for an
electro mechanical flywheel battery (EMFB). Honeywell originally filed suit in
September 1994 because of AFS's failure to pay SSO for work performed and
because the parties were unable to agree on their respective rights and
obligations under the contract. AFS countersued with allegations relating to
the breach of the development agreement. Judge Rebecca A. Albrecht of Maricopa
County Superior Court presided over the trial which began on October 7.
`We are disappointed by the jury's findings and believe that the verdicts
are fatally flawed because they are not supported by the evidence before the
jury,' John J. Leshinski, counsel for Honeywell said. `We will bring motions to
contest these verdicts and resolve the remaining issues. We expect these
motions will be heard by the court over the next several months and resolved
sometime in 1997.'
Honeywell is a global controls company focused on creating value through
control technology that enhances comfort, improves productivity, saves energy,
protects the environment and increases safety. The company serves customers
worldwide in the home and buildings, industrial, and aviation and space markets.
Honeywell employs 53,000 people in 95 countries and had 1995 sales of $6.7
billion.
(i)
