Honeywell Expands N95 Face Mask Production, Seeks $5 Billion Loan

Honeywell International (NYSE: HON) is ramping up production of N95 masks in the U.S. and may hire 500 workers in response to the COVID-19 coronavirus pandemic that has led to a shortage of the particulate-filtering respirator mask across the globe. Honeywell is among the few world-renowned N95 mask makers, along with larger manufacturers like 3M that are maxing out mask production.

Last week, Vice President Mike Pence announced that recently enacted legislation would allow these companies to begin selling millions of more masks immediately, without fearing any liability.

Meanwhile, Honeywell is seeking to raise a term loan of nearly $5 billion as it prepares for a challenging business environment, according to a report from Bloomberg.

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Source Fool.com