Following an activist investor's call for simplification of Honeywell’s operations, the company is exploring a potential Aerospace spin-off.
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PIP is set to expand its global footprint with the acquisition, adding 20 manufacturing sites and 17 distribution centers worldwide.
Elliot Investment urged the company to split into two separate entities, claiming the separation could significantly boost share prices.
Allowing Honeywell to focus on three core trend areas, the sale will create a publicly traded company aiming to capitalize on demand for specialty chemicals and technologies.
A new study of more than 1,600 executives from industrial firms using AI found that 9 in 10 are discovering unexpected new use cases.
The unit includes in-house design and manufacturing of coil-wound heat exchangers and related equipment.
Honeywell says CAES will enhance its defense tech solutions across land, sea, air and space, including new electromagnetic defense solutions.
The acquisition of the Global Access Solutions security business will add three brands to Honeywell's portfolio.
The company reported double-digit organic sales growth in commercial aviation, defense and space and process solutions.
Year-over-year sales growth slowed to 2% in the second quarter, but operating margin increased to 20.6%, according to an earnings report.
Honeywell has acquired Des Moines, Iowa-based Compressor Controls Corporation from Indicor.
Vimal Kapur, President and Chief Operating Officer, will succeed Darius Adamczyk as Chief Executive Officer, the company said.
BTX is the sixth acquisition since 2020 for Resideo's Distribution business.
The company's sales growth flattened to end the year, while full-year sales grew by a modest 3%, according to Honeywell.
Lucian Boldea joins Honeywell from Eastman Chemical.
