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© bakhtiarzein dreamstime.com Electronics Production | October 12, 2017

Honeywell to split up its businesses

Honeywell plans to spin off into two stand-alone, publicly-traded companies. The Homes product portfolio and the ADI global distribution business on one side, and the Transportation Systems business on the other.
“Today’s announcement marks the culmination of a rigorous portfolio review involving a detailed assessment of every Honeywell business. As part of that review, we analyzed numerous criteria, including growth outlook, financial performance, market dynamics, potential for disruption, and, most importantly, assessment of fit as a Honeywell business,” said Honeywell President and CEO Darius Adamczyk.

The new Homes and Global Distribution business will be a focused towards the home heating, ventilation and air conditioning (HVAC) controls and security markets, as well as working as a global distributor of security and fire protection products. The business is expected to have annualised revenue of approximately USD 4.5 billion and about 13’000 employees.

The new Transportation Systems business will be working with the company’s turbocharger technologies. The business is expected to have annualised revenue of approximately USD 3 billion and about 6’500 employees.

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October 16 2017 2:56 PM V8.8.6-1