Wikipedia

Honeywell

For other uses, seeHoneywell (disambiguation).

Honeywell International Inc.is an Americanpublicly traded,multinationalconglomeratecorporation headquartered inCharlotte, North Carolina.It primarily operates in four areas of business:aerospace,building automation, performance materials and technologies (PMT), and safety and productivity solutions (SPS).[2]Honeywell is aFortune 500company, ranked 115th in 2023.[3]In 2023, the corporation had a global workforce of approximately 95,000 employees.[1][4]The currentchairmanisDarius Adamczykand thechief executive officer(CEO) isVimal Kapur.[5]

Honeywell International Inc.
Company typePublic
IndustryConglomerate
Predecessor
Founded1906;118 years ago(1906)inWabash, Indiana,U.S.
FounderMark C. Honeywell(for the Honeywell Inc. line)
HeadquartersCharlotte, North Carolina,U.S.
Area served
Worldwide
Key people
RevenueIncreaseUS$36.66 billion(2023)
IncreaseUS$7.159 billion (2023)
IncreaseUS$5.672 billion (2023)
Total assetsDecreaseUS$61.53 billion (2023)
Total equityDecreaseUS$16.43 billion (2023)
Number of employees
c. 95,000(2023)
Subsidiaries
Websitehoneywell.com
Footnotes / references
[1]

The corporation's current name, Honeywell International Inc., is a product of the merger of Honeywell Inc. andAlliedSignalin 1999. The corporation headquarters were consolidated with AlliedSignal's headquarters in Morristown, New Jersey. The combined company chose the name "Honeywell" because of the considerable brand recognition.[6]Honeywell was a component of theDow Jones Industrial Averageindex from 1999 to 2008. Prior to 1999, its corporate predecessors were included dating back to 1925, including early entrants in the computing and thermostat industries.[7][8]

In 2020, Honeywell rejoined the Dow Jones Industrial Average index.[9]In 2021, it moved its stock listing from theNew York Stock Exchangeto theNasdaq.[10]

History

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The Butz Thermo-Electric Regulator Company was founded in 1885 when the Swiss-bornAlbert Butzinvented thedamper-flapper,athermostatused to control coal furnaces, bringing automated heating system regulation into homes.[11]In 1886, he founded the Butz Thermo-Electric Regulator Company. In 1888, after a falling out with his investors, Butz left the company and transferred the patents to the legal firm Paul, Sanford, and Merwin, who renamed the company the Consolidated Temperature Controlling Company.[11]

As the years passed, CTCC struggled with debt, and the company underwent several name changes. After it was renamed the Electric Heat Regulator Company in 1893,W.R. Sweatt,a stockholder in the company, was sold "an extensive list of patents" and named secretary-treasurer.[12]: 22 By 1900, Sweatt had bought out the remaining shares of the company from the other stockholders.[13]

1906 Honeywell Heating Specialty Company founded

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In 1906,Mark Honeywellfounded the Honeywell Heating Specialty Company inWabash,Indiana,to manufacture and market his invention, the mercury seal generator.[14][15]

TheHoneywell 516,later used as theInterface Message Processor

1922–1934 Mergers and acquisitions

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As Honeywell's company grew, thanks in part to the acquisition of Jewell Manufacturing Company in 1922 to better automate his heating system, it began to clash with theElectric Heat Regulator Companynow-renamed Minneapolis Heat Regulator Company. In 1927, this led to the merging of both companies into the publicly-held Minneapolis-Honeywell Regulator Company. Honeywell was named the company's first president, alongside W.R. Sweatt as its first chairman.[16]

In 1929, combined assets were valued at over $3.5 million, with less than $1 million in liabilities just months beforeBlack Monday.[12]: 49 In 1931, Minneapolis-Honeywell began a period of expansion and acquisition when they purchased the Time-O-Stat Controls Company, giving the company access to a greater number of patents for their controls systems.

W.R. Sweatt and his son Harold provided 75 years of uninterrupted leadership for the company. W.R. Sweatt survived rough spots and turned an innovative idea – thermostatic heating control – into a thriving business.

1934–1941 International growth

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Harold took over in 1934, leading Honeywell through a period of growth and global expansion that set the stage for Honeywell to become a global technology leader. The merger into the Minneapolis-Honeywell Regulator Company proved to be a saving grace for the corporation.

1934 marked Minneapolis-Honeywell's first foray into the international market, when they acquired the Brown Instrument Company and inherited their relationship with the Yamatake Company of Tokyo, a Japan-based distributor.[12]: 51 Later in 1934, Minneapolis-Honeywell started distributorships across Canada, as well as one in the Netherlands, their first European office. This expansion into international markets continued in 1936, with their first distributorship in London, as well as their first foreign assembly facility being established in Canada. By 1937, ten years after the merger, Minneapolis-Honeywell had over 3,000 employees, with $16 million in annual revenue.[11]

World War II

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With the outbreak ofWorld War II,Minneapolis-Honeywell was approached by the US military for engineering and manufacturing projects. In 1941, Minneapolis-Honeywell developed a superior tank periscope, camera stabilizers, and the C-1 autopilot.

A World War II-era Honeywell C-1 autopilot control panel

The C-1 revolutionized precision bombing and was ultimately used on the twoB-29bombers that dropped atomic bombs on Japan in 1945. The success of these projects led Minneapolis-Honeywell to open an Aero division in Chicago on October 5, 1942.[12]: 73 This division was responsible for the development of the formation stick to control autopilots, more accurate fuel quantity indicators for aircraft, and the turbo supercharger.[12]: 79 

In 1950, Minneapolis-Honeywell's Aero division was contracted for the controls on the first US nuclear submarine,USS Nautilus.[12]: 88 In 1951, the company acquired Intervox Company for their sonar, ultrasonic, and telemetry technologies. Honeywell also helped develop and manufacture theRUR-5 ASROCfor the US Navy.

1950–1970s

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In 1953, in cooperation with the USAF Wright-Air Development Center, Honeywell developed an automated control unit, that could control an aircraft through various stages of a flight, fromtaxiingtotakeoffto the point where the aircraft neared its destination and the pilot took over forlanding.Called theAutomatic Master Sequence Selector,the onboard control operated similarly to aplayer pianoto relay instructions to the aircraft'sautopilotat certain way points during the flight, significantly reducing the pilot's workload.[17]Technologically, this effort had parallels to contemporary efforts inmissile guidanceandnumerical control.Honeywell also developed theWagtail missilewith the USAF.

A Honeywell-Pentax-Spotmatic

From the 1950s until the mid-1970s, Honeywell was the United States' importer of Japanese company Asahi Optical'sPentaxcameras and photographic equipment.[12]: 153 These products were labeled "Heiland Pentax" and "Honeywell Pentax" in the U.S. In 1953, Honeywell introduced their most famous product, the T-86 Round thermostat.[11][12]: 110 

A Honeywell thermostat

In 1961, James H. Binger became Honeywell's president and in 1965 its chairman. Binger revamped the company sales approach, placing emphasis on profits rather than on volume. He stepped up the company's international expansion – it had six plants producing 12% of the company's revenue. He officially changed the company's corporate name from "Minneapolis-Honeywell Regulator Co." to "Honeywell", to better represent their colloquial name. Throughout the 1960s, Honeywell continued to acquire other businesses, including Security Burglar Alarm Company in 1969.[12]: 130 

In the 1970s, after one member of a group called FREE[18]on theMinneapolis campus(U of M) of the University of Minnesota[19]asked five major companies with local offices to explain their attitudes toward gay men and women, three responded quickly,[20]insisting that they did not discriminate against gay people in their hiring policies. Only Honeywell objected to hiring gay people.[21]Later in the 1970s, when faced with a denial of access to students, Honeywell "quietly [reversed] its hiring policy".[22]

The beginning of the 1970s saw Honeywell focus on process controls, with Honeywell merging their computer operations with GE's information systems in 1970, and later acquiring GE's process control business.[12]: 122 With the acquisition, Honeywell took over responsibility for GE's ongoingMulticsoperating system project. The design and features of Multics greatly influenced theUnixoperating system. Multics influenced many of the features of Honeywell/GE's GECOS and GCOS8General Comprehensive Operating Systemoperating systems. Honeywell,Groupe Bull,andControl Data Corporationformed a joint venture inMagnetic Peripherals Inc.which became a major player in the hard disk drive market.[12]: 124 

Honeywell was the worldwide leader in 14-inch disk drive technology in the OEM marketplace in the 1970s and early 1980s, especially with its SMD (Storage Module Drive) and CMD (Cartridge Module Drive). In the second half of the 1970s, Honeywell started to look to international markets again, acquiring the French Compagnie Internationale pour l’Informatique in 1976.[12]: 124 In 1984, Honeywell formed Honeywell High Tech Trading to lease their foreign marketing and distribution to other companies abroad, in order to establish a better position in those markets.[12]: 147 Under Binger's stewardship from 1961 to 1978 he expanded the company into such fields as defense, aerospace, and computing.

During and after theVietnam Era,Honeywell's defense division produced a number of products, includingcluster bombs,missile guidancesystems,napalm,andland mines.Minnesota-Honeywell Corporation completed flight tests on an inertia guidance sub-system for theX-20 projectatEglin Air Force Base,Florida, utilizing anNF-101B Voodooby August 1963. The X-20 project was canceled in December 1963.[23]TheHoneywell project,founded in 1968, organized protests against the company to persuade it to abandon weapons production[24]

In 1980, Honeywell bought Incoterm Corporation to compete in both theairline reservations systemnetworks and bank teller markets.

Honeywell Information Systems

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A 1990Honeywell-BullEntry Level Mainframe DPS 7mainframe

In April 1955, Minneapolis-Honeywell started a joint venture withRaytheoncalled Datamatic to enter the computer market and compete withIBM.[12]: 118 In 1957, their first computer, theDATAmatic 1000,was sold and installed. In 1960, just five years after embarking on this venture with Raytheon, Minneapolis-Honeywell bought Raytheon's interest in Datamatic and turned it into the Electronic Data Processing division, later Honeywell Information Systems (HIS) of Minneapolis-Honeywell.[12]: 118 

Honeywell purchased minicomputer pioneerComputer Control Corporation(3C's) in 1966, renaming it as Honeywell's Computer Control Division. Through most of the 1960s, Honeywell was one of the "Snow White and the Seven Dwarfs"of computing. IBM was" Snow White ", while the dwarfs were the seven significantly smaller computer companies:Burroughs,Control Data Corporation,General Electric,Honeywell,NCR,RCA,andUNIVAC.Later, when their number had been reduced to five,[25]they were known as "TheBUNCH",after their initials: Burroughs, UNIVAC, NCR, Control Data Corporation, and Honeywell.[26]

In 1970, Honeywell acquired GE's computer business, rebadgingGeneral Electric's600-seriesmainframestoHoneywell 6000 seriescomputers, supportingGCOS,Multics,andCP-6,while formingHoneywell Information Systems.[27]In 1973, they shipped a high speed non-impact printer called theHoneywell Page Printing System.In 1975, it purchasedXerox Data Systems,whoseSigma computershad a small but loyal customer base. Some of Honeywell's systems wereminicomputers,such as their Series 60 Model 6 and Model 62[28][29]and theirHoneywell 200.The latter was an attempt to penetrate theIBM 1401market.

In 1987, HIS merged withGroupe Bull,a global joint venture with Compagnie des Machines Bull of France and NEC Corporation of Japan to become Honeywell Bull. In 1988 Honeywell Bull was consolidated intoGroupe Bulland in 1989 renamed toBull, a Worldwide Information Systems Company.[30]By 1991, Honeywell was no longer involved in the computer business.[31][32]

1985–1999 integrations

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Aerospace and defense

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1986 marked a new direction for Honeywell, beginning with the acquisition of the Sperry Aerospace Group from theUnisys Corporation.[33]In 1990, Honeywell spun off their Defense and Marine Systems business intoAlliant Techsystems,as well as their Test Instruments division and Signal Analysis Center to streamline the company's focus.[34]Honeywell continues to supply aerospace products including electronic guidance systems, cockpit instrumentation, lighting, and primary propulsion and secondary power turbine engines. In 1996, Honeywell acquiredDuracraftand began marketing its products in the home comfort sector.[35]

Honeywell is in the consortium that runs thePantex Plantthat assembles all of thenuclear bombsin the United States arsenal.[36][37]Honeywell Federal Manufacturing & Technologies, successor to the defense products of AlliedSignal, operates theKansas City Plantwhich produces and assembles 85 percent of the non-nuclear components of the bombs.[38]

Home and building controls

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Honeywell began the SmartHouse project, to combine heating, cooling, security, lighting, and appliances into one easily controlled system. They continued the trend in 1987 by releasing new security systems, and fire and radon detectors. In 1992, in another streamlining effort, Honeywell combined their Residential Controls, Commercial Systems, and Protections Services divisions into Home and Building Control, which then acquired the Enviracare air cleaner business.[12]: 183 By 1995, Honeywell had condensed into three divisions: Space and Aviation Control, Home and Building Control, and Industrial Control.[39]

Industrial control

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Honeywell dissolved its partnership with Yamatake Company and consolidated its Process Control Products Division, Process Management System Division, and Micro Switch Division into one Industrial Control Group in 1998.[citation needed]It has further acquired Measurex System andLeeds & Northrupto strengthen its portfolio in 1997.[40]

1999–2002 merger, takeovers

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AlliedSignal and Pittway

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Main articles:AlliedSignalandPittway

On June 7, 1999, Honeywell was acquired byAlliedSignal,who elected to retain the Honeywell name for its brand recognition.[11]The former Honeywell moved their headquarters of 114 years to AlliedSignal's inMorristown,New Jersey.While "technically, the deal looks more like an acquisition than a merger...from a strategic standpoint, it is a merger of equals."[6]AlliedSignal's 1998 revenue was reported at $15.1 billion to Honeywell's $8.4 billion, but together the companies share huge business interests in aerospace, chemical products, automotive parts, and building controls.

The corporate headquarters were consolidated to AlliedSignal's headquarters in Morristown, New Jersey, rather than Honeywell's former headquarters inMinneapolis,Minnesota.When Honeywell closed its corporate headquarters in Minneapolis, over one thousand employees lost their jobs. A few moved to Morristown or other company locations, but the majority were forced to find new jobs or retire. Soon after the merger, the company's stock fell significantly, and did not return to its pre-merger level until 2007.

In 2000, the new Honeywell acquired Pittway for $2.2 billion to gain a greater share of the fire-protection and security systems market, and merged it into their Home and Building Control division,[41]taking on Pittway's $167 million in debt. Analyst David Jarrett commented that "while Honeywell offered a hefty premium, it's still getting Pittway for a bargain" at $45.50 per share, despite closing at $29 the week before.[42]Pittway's Ademco products complemented Honeywell's existing unified controls systems.

General Electric Company

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In October 2000, Honeywell, then valued at over $21 billion, accepted a takeover bid from then-CEOJack WelchofGeneral Electric.[43]The American Department of Justice cleared the merger, while "GE teams swooped down on Honeywell" and "GE executives took over budget planning and employee reviews." However, on July 3, 2001, theEuropean Commission's competition commissioner,Mario Monti,blocked the move.[44]This decision was taken on the grounds that with GE's dominance of the large jet engine market, led by theGeneral Electric CF34turbofanengine, its leasing services (GECAS), and Honeywell's portfolio of regionaljet enginesandavionics,the new company would be able to "bundle" products and stifle competition through the creation of ahorizontal monopoly.[45][46]

US regulators disagreed, finding that themergerwould improve competition and reduce prices; United States Assistant Attorney GeneralCharles Jamescalled the EU's decision "antithetical to the goals of antitrust law enforcement."[47][46]This led to a drop in morale and general tumult throughout Honeywell.[citation needed]The then-CEOMichael Bonsignorewas fired as Honeywell looked to turn their business around.

2002–2014 acquisitions and further expansion

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A Honeywellglass cockpit,sold under the brand BendixKing

In January 2002,Knorr-Bremse– who had been operating in a joint venture with Honeywell International Inc. – assumed full ownership of its ventures in Europe, Brazil, and the USA.Bendix Commercial Vehicle Systemsbecame a subsidiary ofKnorr-Bremse AG.Although declining in influence, Honeywell maintains a presence in emerging industries, such as NorthernAlberta'soil sands.Honeywell's Plant integrator is currently deployed in some of the most important plant-sites in the Oil Sands,Syncrude,Suncor,and others.[48]

In February 2002, Honeywell's board appointed their next CEO and chairman, David M. Cote. Cote was instrumental in uniting the company cultures of Honeywell, AlliedSignal, and Pittway. Since 2002, Honeywell has made more than 80 acquisitions and 60 divestures, while adding $12 billion in new sales[49]and increasing its labor force to 131,000 as a result of these acquisitions. Under his tenure, Honeywell's stock nearly tripled from $35.23 in April 2002 to $99.39 in January 2015.[50]

Honeywell made a £1.2bn ($2.3bn) bid forNovar plcin December 2004.[51][52]The acquisition was finalized in March 2005.[53][54]In October 2005, Honeywell bought outDow's50% stake inUOPfor $825 million, giving them complete control over the joint venture in petrochemical and refining technology.[55]In May 2010, Honeywell outbid UK-basedCinvenand acquired the French company Sperian Protection for $1.4 billion, which was then incorporated into its automation and controls safety unit.[56]

2015–present

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In 2015, the headquarters were moved toMorris Plains, New Jersey.[57]The 475,000-square-foot building on 40 acres in Morris Plains featured state-of-the-art technology and greater energy efficiency than Honeywell's Morristown campus, which was underutilized, outdated and costly, according to Cote.

In December 2015, Honeywell completed the acquisition of Elster for US$5.1B, announced in July 2015, entering the space of gas, electricity, and water meters with a specific focus on smart meters and hoped to be a growth driver for Honeywell in 2016 and beyond. The deal complements the HON Combustion business with the addition of Elster with strong brands such as Kromschroeder and Eclipse. Honeywell International Inc. then acquired the 30% stake in UOP Russell LLC it didn't own already for roughly $240 million in January 2016.[58]

In February 2016, Honeywell entered into a definitive agreement to acquire Xtralis, a leading global provider of aspirating smoke detection along with advanced perimeter security technologies and video analytics software, for $480 million, from funds advised by Pacific Equity Partners and Blum Capital Partners. The deal was completed in April 2016.[59]In May 2016, Honeywell International Inc. settled its patent dispute regarding Google subsidiary Nest Labs, whose thermostats Honeywell claimed infringed on several of its patents. Google parent Alphabet Inc. and Honeywell said they reached a "patent cross-license" agreement that "fully resolves" the long-standing dispute. Honeywell sued Nest Labs in 2012.[60]In 2017, Honeywell opened a new software center in Atlanta, Georgia.[61]

David Cote stepped down as CEO on April 1, 2017, and was succeeded byDarius Adamczyk,who had been promoted to president andchief operating officer(COO) in 2016. Cote served as executive chairman to April 2018.[62]In October 2017, Honeywell announced plans to spin off its Homes,ADI Global Distribution,and Transportation Systems businesses into two separate, publicly traded companies by the end of 2018.[63]

In 2018, Honeywell spun off both Honeywell Turbo Technologies, nowGarrett Advancing Motion,and its consumer products business, Resideo.[64][65]Both companies are publicly traded on theNew York Stock Exchange.For the fiscal year 2019, Honeywell reported net income of US$6.230 billion, with an annual revenue of US$36.709 billion, a decrease of 19.11% over the previous fiscal cycle. Honeywell's shares traded at over $158 per share, and its market capitalization was valued at over US$113.25 billion in September 2020.[66][67][68][69]

Honeywell relocated its corporate headquarters in October 2019 to Charlotte, North Carolina. In July 2019, Honeywell moved employees into a temporary headquarters building in Charlotte before their new building was complete.[70]

Honeywell Forge launched as an analytics platform software for industrial and commercial applications such as aircraft, building, industrial, worker and cyber-security.[71]In collaboration with Carnegie Mellon University National Robotics Engineering Center, the Honeywell Robotics was created in Pittsburgh to focus on supply chain transformation.[72]The Honeywell robotic unloader grabs packages in tractor-trailers then places them on conveyor belts for handlers to sort.[73]

In May 2019, GoDirect Trade launched as an online marketplace for surplus aircraft parts such as engines, electronics, and APU parts.[74]In March 2020, Honeywell announced that its quantum computer is based on trapped ions. Its expected quantum volume is at least 64, which Honeywell's CEO called the world's most powerful quantum computer.[75][76]In November 2021, Honeywell announced the spinoff of its quantum division into a separate company named "Quantinuum".[77][78]

In March 2023, Honeywell announcedVimal Kapuras its next CEO, effective June 1, 2023.[79]In December 2023, Honeywell acquiredCarrier Global's security business for nearly $5 billion to boost its automation portfolio.[80]

In February 2024, Honeywell filed a lawsuit against Lone Star Aerospace, Inc due to their software products that allegedly infringe on five patents.[81]

COVID-19 pandemic

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In response to theCOVID-19 pandemic,Honeywell converted some of its manufacturing facilities in Rhode Island, Arizona, Michigan and Germany to produce supplies ofpersonal protective equipmentfor healthcare workers.[82][83]In April 2020, Honeywell began production ofN95 masksat the company's factories inSmithfieldandPhoenix,aiming to produce 20 million masks a month. Honeywell's facilities inMuskegonand Germany were converted to produce hand sanitiser for government agencies.[84]

Several state governments contracted Honeywell to produce N95 particulate-filtering face masks during the pandemic. The North Carolina Task Force for Emergency Repurposing of Manufacturing (TFERM) awarded Honeywell a contract for the monthly delivery of 100,000 N95 masks. In April 2020,Los Angeles MayorEric Garcettiannounced a deal with Honeywell to produce 24 million N95 masks to distribute to healthcare workers and first responders.[85][86]

In May 2020,United States PresidentDonald Trumpvisited theHoneywell Aerospace Technologiesfacility inPhoenix,where he acknowledged the "incredibly patriotic and hard-working men and women of Honeywell" for making N95 masks and referred to the company's production as a "miraculous achievement".[87][88]

In April 2021,Will.i.amand Honeywell collaborated on Xupermask, a smart mask made of silicon and athletic mesh fabric that has LED lights, 3-speed fans and noise-canceling headphones in the mask.[89][90]

Business groups

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Main article:List of Honeywell products and services
Honeywell House (Innoteknia) inKuopio Science ParkinKuopio,Finland
A Honeywell wireless home alarm system control panel
A Honeywell digital compass sensor mounted on acircuit board

The company operates four business groups –Honeywell Aerospace Technologies,Building Automation,Safety and Productivity Solutions(SPS), andPerformance Materials and Technologies(PMT).[68][91]Business units within the company are as follows:[92][93]

Honeywell Aerospace Technologiesprovides avionics, aircraft engines, flight management systems, and service solutions to manufacturers, airlines, airport operations, militaries, and space programs. It comprises Commercial Aviation, Defense & Space, and Business & General Aviation.[94][95][96]In January 2014, Honeywell Aerospace Technologies launched its SmartPath Precision Landing System at Malaga-Costa del Sol Airport in Spain, which augments GPS signals to make them suitable for precision approach and landing, before broadcasting the data to approaching aircraft.[97]

In July 2014, Honeywell's Transportation Systems merged with the Aerospace division due to similarities between the businesses.[98]In April 2018, Honeywell announced to develop laser communication products for satellite communication in collaboration with Ball Aerospace and plans future volume production. In June 2018 Honeywell spun off and rebranded its Transportation Systems asGarrett.[99]

Building AutomationandHoneywell Safety and Productivity Solutionswere created whenAutomation and Control Solutionswas split into two in July 2016.[100][92]Building Automation comprises Honeywell Building Solutions, Environmental and Energy Solutions, and Honeywell Security and Fire. In December 2017, Honeywell announced that it had acquired SCAME, an Italy-based company, to add newfire and gas safetycapabilities to its portfolio.[101]Honeywell Safety and Productivity Solutions comprises Scanning & Mobility, Sensing and Internet of Things, and Industrial safety.[102]

Honeywell Performance Materials and Technologiescomprises six business units: Honeywell UOP,[103]Honeywell Process Solutions, Fluorine Products, Electronic Materials, Resins & Chemicals, and Specialty Materials. Products include process technology for oil and gas processing, fuels, films and additives, special chemicals, electronic materials, and renewable transport fuels.[104][105]

Corporate governance

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Honeywell's current chief executive officer isVimal Kapur.[106][107]As of June 2023,the members of the board are:[108]

Vimal Kapur Chief executive officer
Darius Adamczyk Chairman
Duncan B. Angove Chief Executive Officer of Arcspring LLC[109]
William S. Ayer Retired chairman of the board and chief executive officer of Alaska Air Group
Kevin Burke Non-executive chairman of Consolidated Edison, Inc. (Con Edison)
Deborah Flint[110] President and chief executive officer of the Greater Toronto Airports Authority (GTAA)[109]
D. Scott Davis Chairman and chief executive officer ofUnited Parcel Service,Inc. (UPS)
Rose Lee President and CEOCornerstone Buildings Brands
Grace D. Lieblein Vice president of global purchasing and supply chain of General Motors Corporation (GM)
Robin L. Washington Executive vice president and chief financial officer of Gilead Sciences, Inc.
Robin Watson CBE Former chief executive officer of Wood Plc

Acquisitions since 2002

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Honeywell's acquisitions have consisted largely of businesses aligned with the company's existing technologies. The acquired companies are integrated into one of Honeywell's four business groups (Aerospace Technologies (AT), Building Automation (BA), Safety and Productivity Solutions (SPS), or Performance Materials and Technologies (PMT)) but retain their original brand name.

Year Acquisition Business Group
2023 LenelS2

Supra

Onity

SPS
2021 Sparta Systems[111] PMT
2020 Sine Group[112] HBT
Ballard Unmanned Systems[113][114] AT
2019 Tru-Trak Flight Systems[115] AT
Rebellion Photonics SPS
2018 Transnorm[116][117] SPS
2017 Nextnine[118] PMT
SCAME Sistemi[119] HBT
FLUX[120][a] SPS
2016 Com Dev[122] AT
RSI[123] HBT
Intelligrated[124] SPS
Xtralis[125] HBT
Movilizer[126] SPS
UOP Russell LLC[127] PMT
2015 Seelze[128] PMT
Elster[129][130] PMT
Aviaso[131] HBT
Datamax-O'Neil[132] SPS
2013 Saia Burgess Controls[133][130] HBT
Intermec[134] SPS
RAE Systems[135] SPS
2012 Fire Sentry[136][137] HBT
InnCom[138][139] HBT
Thomas Russell LLC[140] PMT
2011 EMS[141] SPS/AT
Iris Systems[142] HBT
Kings Safety Shoes[143] SPS
2010 Akuacom[144][145] HBT
Matrikon[146] PMT
E-Mon[147][148] HBT
Sperian[56] SPS
2009 RMG[149] PMT
Cythos[150] SPS
2008 AV Digital Audio-Videotechnik GmbH[151] HBT
Energy Services Group, LLC[152] PMT
Metrologic[153] SPS
IAC[154] AT
Callidus[155] PMT
Norcross[156] SPS
2007 Plant Automation Systems, Inc. (PAS)[157] PMT
Dimensions Int'l[158] AT
ActiveEye[159] SPS
Burtek[160] PMT
Ex-Or[161] HBT
Enraf Holdings B.V.[162] SPS
Handheld Products[163] SPS
Maxon Corporation[164] PMT
2006 Sempra Energy Services[152] PMT
First Technology[165] SPS
Gardiner Group[166] HBT
2005 Honeywell UOP[55] PMT
Novar Controls[167] HBT
Zellweger[168] SPS
Lebow SPS
Friedland HBT
InterCorr International, Inc.[169] SPS
Tridium,Inc.[170] HBT
2004 Hymatic Group[171] AT
Genesis Cable[172] HBT
HomMed, LLC[173] SPS
Aube Technologies[174] HBT
Vindicator[175] HBT
Electro-Radiation Incorporated (ERI)[176] AT
Edgelinx[177] HBT
GEM Microelectronics[178] PMT
2003 Silent Witness[179] HBT
Sensotec[180] SPS
Baker Electronics[181] AT
Gamewell[182] HBT
Olympo[183] HBT
FutureSmart[184] HBT
Kolon Films[185] PMT
Betatech[186] HBT
2002 Invensys Sensor Systems[187] SPS
Chadwick Helmuth[188][189] AT
Ultrak[190] HBT
Mora Moravia[191] AT
Shanghai Alarm[192] HBT

Environmental record

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TheUnited States Environmental Protection Agencystates that no corporation has been linked to a greater number ofSuperfundtoxic waste sites than Honeywell.[193]In 2007, Honeywell ranked 44th in a list of US corporations most responsible for air pollution, releasing more than 4.25 million kg (9.4 million pounds) of toxins per year into the air.[194]In 2001, Honeywell agreed to pay $150,000 incivil penaltiesand to perform $772,000 worth of reparations for environmental violations involving:[195]

In 2003, a federal judge inNewark, New Jersey,ordered the company to perform an estimated $400 millionenvironmental remediationof chromium waste, citing "a substantial risk of imminent damage to public health and safety and imminent and severe damage to the environment."[196]In 2003, Honeywell paid $3.6 million to avoid a federal trial regarding its responsibility fortrichloroethylenecontamination inLisle, Illinois.[197]In 2004, theState of New Yorkannounced that it would require Honeywell to complete an estimated $448 million cleanup of more than 74,000 kg (165,000 lbs) of mercury and other toxic waste dumped intoOnondaga LakeinSyracuse, New York,from a former Allied Chemical property.[198]

Honeywell established three water treatment plants by November 2014. The chemicals cleanup site removed 7 tons of mercury.[199]In November 2015, Audubon New York gave the Thomas W. Keesee Jr. Conservation Award to Honeywell for its cleanup efforts in “one of the most ambitious environmental reclamation projects in the United States.”[200]By December 2017, Honeywell completed dredging the lake.[201]Later in December, the Department of Justice filed a settlement requiring Honeywell to pay a separate $9.5 million in damages, as well build 20 restoration projects on the shore to help repair the greater area surrounding the lake.[201]

In 2005, the state ofNew Jerseysued Honeywell,Occidental Petroleum,andPPGto compel cleanup of more than 100 sites contaminated with chromium, a metal linked to lung cancer,ulcers,anddermatitis.[202]In 2008, the state ofArizonamade a settlement with Honeywell to pay a $5 million fine and contribute $1 million to a local air-quality cleanup project, after allegations of breaking water-quality and hazardous-waste laws on hundreds of occasions between 1974 and 2004.[203]

In 2006, Honeywell announced that its decision to stop manufacturingmercury switcheshad resulted in reductions of more than 11,300 kg (24,900 lb) ofmercury,2,800 kg (6,200 lb) of lead, and 1,500 kg (3,300 lb) ofchromic acidusage. The largest reduction represents 5% of mercury use in the United States.[204]The EPA acknowledged Honeywell's leadership in reducing mercury use through a 2006 National Partnership for Environmental Priorities (NPEP) Achievement Award for discontinuing the manufacturing of mercury switches.[205]

Harvey Coxholding a Honeywellfragmentationbomb, 1973

Carbon footprint

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Honeywell reported TotalCO2e emissions(Direct + Indirect) for the twelve months ending 31 December 2020 at 2,248 Kt (-89 /-3.8% y-o-y).[206]Honeywell aims to reach net zero emissions by 2035.[207]

Honeywell's annual total CO2e Emissions - Location-Based Scope 1 + Scope 2 (in kilotonnes)
Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
5,760[208] 5,262[209] 4,218[210] 2,584[211] 2,528[212] 2,337[213] 2,248[206]

Criticism

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On March 10, 2013,The Wall Street Journalreported that Honeywell was one of sixty companies thatshieldedannual profits from U.S. taxes.[214]In December 2011, the non-partisan liberal organizationPublic Campaigncriticized Honeywell International for spending $18.3 million onlobbyingandnot paying any taxesduring 2008–2010, instead getting $34 million in tax rebates, despite making a profit of $4.9 billion, laying off 968 workers since 2008, and increasing executive pay by 15% to $54.2 million in 2010 for its top five executives.[215]

Honeywell has also been criticized in the past for its manufacture of deadly and maiming weapons, such ascluster bombs.[216]

See also

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Explanatory notes

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  1. ^Honeywell acquired a 25% stake in FLUX and a 75% stake in a new joint venture focused outside of China.[121]

References

edit
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