HONEYWELL REACHES ASBESTOS SETTLEMENT

US industrial group Honeywell International has reached an asbestos-related settlement with 90% of claimants against NARCO, a former brick-and-cement unit. Honeywell said that the agreements would enable it to establish a trust to pay off claims against NARCO. Honeywell reached the deal weeks after announcing that it would set aside $900m to cover asbestos liabilities at NARCO, which it sold in 1986. The deal is the latest in a series of asbestos-related settlements in the US. Other settlements have been announced in recent weeks by the Halliburton oil services group and the Sealed Air packaging group.