Honeywell announced today that its Board of Directors continues the comprehensive business portfolio evaluation launched earlier this year by Chairman and CEO Vimal Kapur to explore additional strategic alternatives for unlocking shareholder value, including the potential separation of its Aerospace business. The Board has made significant progress to date, and Honeywell plans to provide an update with its fourth quarter 2024 earnings release.
"Since aligning our business this past January to three compelling megatrends – Automation, the Future of Aviation and Energy Transition – we have been moving swiftly and decisively to optimize the Honeywell portfolio to deliver superior growth and drive incremental shareholder value. At the same time, we have been evaluating more transformational changes," said Kapur.
"Following the portfolio enhancements announced earlier this year, Honeywell is now well-positioned for significant transformational alternatives, and we are continuing our deeper, more granular exploration of their feasibility and possible timing," Kapur added. "Honeywell's Board of Directors remains committed to maximizing shareholder value creation, and any decision will be evaluated against that goal."
Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio following the realignment of its business segments. This includes approximately $9 billion of accretive acquisitions: the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, and the liquefied natural gas (LNG) business from Air Products. In addition, the company announced a plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company, and entered into an agreement to divest the company's Personal Protective Equipment business.
| Contact details from our directory: | |
| Honeywell Aerospace | Air Conditioning Equipment, Air Conditioning Equipment, Magnetometers, Cockpit Printers, Airborne Communication Systems, Cooling Systems, Cargo Systems, Airspeed Indicators, WAAS Equipment, Starter Generators, Bleed Air Systems, Air Purification Systems, Flight Management Systems, Engine Parts, Pneumatic Systems Equipment, Automatic Flight Control Systems, Inertial Components & Systems, Multi-Mode Receivers (MMR), Auxiliary Power Units, Cabin Pressure Control Systems, Autopilots, Cockpit Control Systems, Avionics Management Systems, Automatic Direction Finders, Distance Measuring Equipment, Transceivers, VOR (Omnirange) Receivers, Radio Communications Equipment, GPS, Attitude and Heading Reference Systems, Radar/Radio Altimeters, Terrain Awareness and Warning Systems, Horizontal Situation Indicator, Heading Indicators, Onboard Intercom Systems, Electronic Flight Instrument Systems, Flight Recorders, Collision Avoidance Systems/TCAS, Fly-by-Wire Systems, Air Data Computers, Cabin Management Systems, Weather Mapping Radar, Emergency Locator Transmitters, Radar Transponders, IFF Interrogators, Glide Slope Receivers, Weapons Countermeasures, LCD Displays, Moving Maps, Enhanced Vision Systems (EVS), Inflight Entertainment, Angle of Attack Indicators, Proximity Sensors, Testing Services, Environmental Testing Services, Electromagnetic Test Services, Electric Power Controllers, Cockpit Video Displays, Fibre Optic Gyroscopes, Fuel Tanks & Systems, Precoolers |
| CAES (Cobham Advanced Electronic Solutions) | Test Sets, Test Equipment, Spectrum Analysers, Microwave Testing, Signal Generator Test Equipment, Electronic Components, Power Conversion Equipment |
| Civitanavi Systems Srl | Fibre Optic Gyroscopes, Inertial Components & Systems |
| Air Products & Chemicals, Inc. | Fuel Tanks & Systems |
| Related directory sectors: |
| Airframe Assemblies |
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