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Honeywell International Inc. is an American
publicly traded A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in Over-the-counter (finance), over-the-counter markets. A public (publicly traded) comp ...
, multinational conglomerate corporation headquartered in
Charlotte, North Carolina Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...

Charlotte, North Carolina
. It primarily operates in four areas of business:
aerospace Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. Aerospace engineering consists of aeronautics and astrona ...

aerospace
, building technologies, performance materials and technologies (PMT), and safety and productivity solutions (SPS). Honeywell is a
Fortune 100 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...

Fortune 100
company, ranked 94th in 2021. In 2021 the corporation had a global workforce of approximately 99,000 employees, down from 113,000 in 2019. The current
chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gr ...

chairman
and
chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of Corporate Executive, corporate executives charged with the management of an or ...
(CEO) is
Darius Adamczyk Darius Adamczyk (born February 8, 1966) is an American businessman. He is the chairman and chief executive officer (CEO) of Honeywell, an American multinational conglomerate. Early life and education Adamczyk was born in Poland on February 8, 196 ...

Darius Adamczyk
. The corporation's current name, Honeywell International Inc., is a product of the merger of Honeywell Inc. and
AlliedSignal AlliedSignal was an American aerospace, automotive and engineering company created through the 1985 merger of Allied Corp. and Signal Companies. It subsequently purchased Honeywell for $14.8 billion in 1999, and thereafter adopted the Honeywell n ...
in 1999. The corporation headquarters were consolidated with AlliedSignal's headquarters in Morristown, New Jersey; however, the combined company chose the name "Honeywell" because of the considerable brand recognition. Honeywell was a component of the
Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity inde ...

Dow Jones Industrial Average
index 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. In 2020, Honeywell rejoined the
Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity inde ...

Dow Jones Industrial Average
index and the following year moved its stock listing from the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City New York, often called New York City or NYC, is the List o ...

New York Stock Exchange
to the
Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City New York, often called New York City or NYC, is the ...

Nasdaq
.


History

The Butz Thermo-Electric Regulator Company was founded in 1885 when the Swiss-born
Albert Butz Albert Butz (1849–1905) was a Swiss-born American inventor and businessman who founded the Butz Thermo-electric Regulator Company that, through a series of re-organizations, name changes, and mergers, became Honeywell, Incorporated. Early li ...
invented the ''damper-flapper'', a
thermostat A thermostat is a regulating device component which senses the temperature of a physical system and performs actions so that the system's temperature is maintained near a desired setpoint (control system), setpoint. Thermostats are used i ...

thermostat
used to control coal furnaces, bringing automated heating system regulation into homes. The following year 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. 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. On February 23, 1898, he bought out the remaining shares of the company from the other stockholders.


1906 Honeywell Heating Specialty Company founded

In 1906,
Mark Honeywell Mark Charles Honeywell (December 29, 1874 – September 13, 1964) was an American electronics industrialist. He co-initiated the eponymous corporation Honeywell and was its first president and CEO (1927–1933). Early years and marriage Honeywel ...
founded the Honeywell Heating Specialty Company in Wabash,
Indiana Indiana () is a U.S. state in the Midwestern United States, Midwestern United States. It is the List of U.S. states and territories by area, 38th-largest by area and the List of U.S. states and territories by population, 17th-most populous o ...
, to manufacture and market his invention, the mercury seal generator.


1922–1934 mergers and acquisitions

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 the now renamed Minneapolis Heat Regulator Company. This led to the merging of both companies into the publicly held Minneapolis-Honeywell Regulator Company in 1927. Honeywell was named the company's first president, alongside W.R. Sweatt as its first chairman. The combined assets were valued at over $3.5 million, with less than $1 million in liabilities just months before Black Monday. In 1931, Minneapolis-Honeywell began a period of expansion and acquisition when they purchased Time-O-Stat Controls Company, giving the company access to a greater number of patents to be used in 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

Harold, who took over in 1934, led 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. Later that same year, Minneapolis-Honeywell would also start 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.


World War II

With the outbreak of
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the World War II by country, vast majority of the world's countries—including all of the great power ...
, 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. The C-1 revolutionized precision bombing and was ultimately used on the two
B-29 The Boeing B-29 Superfortress is an American four-engined Propeller (aeronautics), propeller-driven heavy bomber, designed by Boeing and flown primarily by the United States during World War II and the Korean War. Named in allusion to its p ...
bombers 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. 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. In 1950, Minneapolis-Honeywell's Aero division was contracted for the controls on the first US nuclear submarine, USS Nautilus. The following year, the company acquired Intervox Company for their sonar, ultrasonic, and telemetry technologies. Honeywell also helped develop and manufacture the
RUR-5 ASROC The RUR-5 ASROC (for "Anti-Submarine Rocket") is an all-weather, all sea-conditions anti-submarine missile system. Developed by the United States Navy in the 1950s, it was deployed in the 1960s, updated in the 1990s, and eventually installed ...
for the US Navy.


1950–1970s

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, from
taxiing Taxiing (rarely spelled taxying) is the movement of an aircraft on the ground, under its own power, in contrast to towing or pushback where the aircraft is moved by a tug. The aircraft usually moves on wheels, but the term also includes aircra ...
, to
takeoff Takeoff is the phase of flight in which an aerospace vehicle leaves the ground and becomes airborne. For aircraft traveling vertically, this is known as liftoff. For aircraft that take off horizontally, this usually involves starting with a t ...
, to the point where the aircraft neared its destination and the pilot took over for
landing Landing is the last part of a flight, where a flying animal, aircraft, or spacecraft returns to the ground. When the flying object returns to water, the process is called alighting, although it is commonly called "landing", "touchdown" or ...
. Called the Automatic Master Sequence Selector, the onboard control operated similarly to a
player piano A player piano (also known as a pianola) is a self-playing piano containing a Pneumatics, pneumatic or electro-mechanical mechanism, that operates the piano action via programmed music recorded on perforated piano rolls, paper or metallic ro ...
to relay instructions to the aircraft's
autopilot An autopilot is a system used to control the path of an aircraft, marine craft or spacecraft without requiring constant manual control by a human operator. Autopilots do not replace human operators. Instead, the autopilot assists the operator' ...
at certain way points during the flight, significantly reducing the pilot's workload. Technologically, this effort had parallels to contemporary efforts in
missile guidance Missile guidance refers to a variety of methods of guiding a missile or a guided bomb to its intended target. The missile's target accuracy is a critical factor for its effectiveness. Guidance systems improve missile accuracy by improving its ...
and
numerical control Numerical control (also computer numerical control, and commonly called CNC) is the automation, automated control of machining tools (such as drills, lathes, Milling (machining), mills, Grinding machine, grinders, CNC wood router, routers and 3 ...
. Honeywell also developed the Wagtail missile with the USAF. From the 1950s until the mid-1970s, Honeywell was the United States' importer of Japanese company Asahi Optical's
Pentax is a brand name used primarily by the Japanese multinational imaging and electronics company Ricoh is a Japanese Multinational corporation, multinational imaging and electronics company (law), company. It was founded by the now-defunct comm ...
cameras and photographic equipment. 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. In 1961, James H. Binger became Honeywell's president and in 1965 its chairman. On becoming chairman of Honeywell, Binger revamped the company sales approach, placing emphasis on profits rather than on volume. He also stepped up the company's international expansion – it had six plants producing 12% of the company's revenue. He also 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. In the 1970s, after one member of a group called FREEBruce Johasen, "Out of Silence", ''Minnesota History'' (Spring 2019), 189: * "Halfhill steered the group through the administrative channels needed to establish FREE as a student group". on the Minneapolis campus (U of M) of the University of Minnesota asked five major companies with local offices to explain their attitudes toward gay men and women, three responded quickly, insisting that they did not discriminate against gay people in their hiring policies. Only Honeywell objected to hiring gay people.Sources: Michael McConnell Files, "Full Equality, a diary" (volumes 1a - d), Tretter Collection in GLBT Studies, ''U of M Libraries''. * Letter to FREE from Vice President Gerry E. Morse, ''Honeywell Inc.'' (29 June 1970): ** "We would not employ a known homosexual." Later in the decade, when faced with a denial of access to students, Honeywell "quietly eversedits hiring policy". As well, the beginning of the 1970s saw Honeywell focus on process controls, with the company merging their computer operations with GE's information systems in 1970, and later acquiring GE's process control business. With the acquisition, Honeywell took over responsibility for GE's ongoing
Multics Multics ("Multiplexed Information and Computing Service") is an influential early time-sharing operating system based on the concept of a single-level store, single-level memory.Dennis M. Ritchie, "The Evolution of the Unix Time-sharing System", ...
operating system project. The design and features of Multics greatly influenced the
Unix Unix (; trademarked as UNIX) is a family of Computer multitasking, multitasking, multiuser computer operating systems that derive from the original AT&T Corporation, AT&T Unix, whose development started in 1969 at the Bell Labs research center ...
operating system. Multics also influenced many of the features of Honeywell/GE's GECOS and GCOS8 General Comprehensive Operating System operating systems. Honeywell,
Groupe Bull Bull SAS (also known as Groupe Bull, Bull Information Systems, or simply Bull) is a French computer company (law), company headquarters, headquartered in Les Clayes-sous-Bois, in the western suburbs of Paris. The company has also been known at var ...
, and
Control Data Corporation Control Data Corporation (CDC) was a mainframe and supercomputer firm. CDC was one of the nine major United States computer A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations (com ...
formed a joint venture in ''Magnetic Peripherals Inc''. which became a major player in the hard disk drive market. It 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. Eight years later, 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. Under Binger's stewardship from 1961 to 1978 he expanded the company into such fields as defense, aerospace, and computing. During and after the Vietnam Era, Honeywell's defense division produced a number of products, including cluster bombs,
missile guidance Missile guidance refers to a variety of methods of guiding a missile or a guided bomb to its intended target. The missile's target accuracy is a critical factor for its effectiveness. Guidance systems improve missile accuracy by improving its ...
systems,
napalm Napalm is an incendiary mixture of a gelling agent and a volatile petrochemical (usually gasoline Gasoline (; ) or petrol (; ) (see ) is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most Spa ...
, and
land mines A land mine is an explosive weapon, explosive device concealed under or on the ground and designed to destroy or disable enemy targets, ranging from combatants to vehicles and tanks, as they pass over or near it. Such a device is typically d ...
. Minnesota-Honeywell Corporation completed flight tests on an inertia guidance sub-system for the X-20 project at
Eglin Air Force Base Eglin Air Force Base is a United States Air Force (USAF) base in the western Florida Florida Panhandle, Panhandle, located about southwest of Valparaiso, Florida, Valparaiso in Okaloosa County, Florida, Okaloosa County. The host unit at Egli ...
, Florida, utilizing an NF-101B Voodoo by August 1963. The X-20 project was canceled in December 1963. The Honeywell project, founded in 1968, organized protests against the company to persuade it to abandon weapons production In 1980, Honeywell bought Incoterm Corporation to compete in both the airline reservations system networks and bank teller markets.


Honeywell Information Systems

On April 12, 1955, Minneapolis-Honeywell started a joint venture with
Raytheon Raytheon Technologies Corporation is an American multinational corporation, multinational Aerospace manufacturer, aerospace and Arms industry, defense list of conglomerates, conglomerate headquartered in Arlington, Virginia. It is one of the l ...
called Datamatic to enter the computer market and compete with IBM. Two years later in 1957, their first computer, the DATAmatic 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. Honeywell also purchased minicomputer pioneer Computer 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 "Snow White and the Seven Dwarfs" is a 19th-century German fairy tale that is today known widely across the Western world. The Brothers Grimm published it in 1812 in the first edition of their collection ''Grimms' Fairy Tales'' and numbered as Ta ...
" of computing. IBM was "Snow White", while the dwarfs were the seven significantly smaller computer companies: Burroughs,
Control Data Corporation Control Data Corporation (CDC) was a mainframe and supercomputer firm. CDC was one of the nine major United States computer A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations (com ...
,
General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston Boston (), officially the City of Boston, is the capital city, state capital a ...
, Honeywell, NCR,
RCA The RCA Corporation was a major American electronics company, which was founded as the Radio Corporation of America in 1919. It was initially a patent pool, patent trust owned by General Electric (GE), Westinghouse Electric Corporation, Westin ...
, and
UNIVAC UNIVAC (Universal Automatic Computer) was a line of electronic digital stored-program computers starting with the products of the Eckert–Mauchly Computer Corporation. Later the name was applied to a division of the Remington Rand company and ...
. Later, when their number had been reduced to five, they were known as "The BUNCH", after their initials: Burroughs, UNIVAC, NCR, Control Data Corporation, and Honeywell. In 1970, Honeywell acquired GE's computer business forming Honeywell Information Systems. In 1973, they shipped a high speed non-impact printer called the Honeywell Page Printing System. In 1975, it purchased Xerox Data Systems, whose Sigma computers had a small but loyal customer base. Some of Honeywell's systems were
minicomputer A minicomputer, or colloquially mini, is a class of smaller general purpose computers that developed in the mid-1960s and sold at a much lower price than Mainframe computer, mainframe and mid-size computers from IBM and BUNCH, its direct competi ...
s, such as their Series 60 Model 6 and Model 62 and their
Honeywell 200 The Honeywell 200 was a character-oriented two-address commercial computer introduced by Honeywell Honeywell International Inc. is an American public company, publicly traded, multinational corporation, multinational conglomerate (company), ...
; the latter was an attempt to penetrate the
IBM 1401 The IBM 1401 is a variable word length computer, variable-wordlength decimal computer that was announced by IBM on October 5, 1959. The first member of the highly successful IBM 1400 series, it was aimed at replacing unit record equipment for pr ...
market. In 1987, HIS merged with
Groupe Bull Bull SAS (also known as Groupe Bull, Bull Information Systems, or simply Bull) is a French computer company (law), company headquarters, headquartered in Les Clayes-sous-Bois, in the western suburbs of Paris. The company has also been known at var ...
, 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 into ''Groupe Bull'' and in 1989 renamed to ''Bull, a Worldwide Information Systems Company.'' By 1991, Honeywell was no longer involved in the computer business.


1985–1999 integrations


Aerospace and defense

1986 marked a new direction for Honeywell, beginning with the acquisition of the Sperry Aerospace Group from the Unisys Corporation. In 1990, Honeywell spun off their Defense and Marine Systems business into
Alliant Techsystems Alliant Techsystems Inc. (ATK) was an American aerospace Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applicati ...
, as well as their Test Instruments division and Signal Analysis Center to streamline the company's focus. Honeywell continues to supply aerospace products including electronic guidance systems, cockpit instrumentation, lighting, and primary propulsion and secondary power turbine engines. In 1996, Honeywell acquired Duracraft and began marketing its products in the home comfort sector. Honeywell is in the consortium that runs the Pantex Plant that assembles all of the
nuclear bomb A nuclear weapon is an explosive device that derives its destructive force from nuclear reactions, either nuclear fission, fission (fission bomb) or a combination of fission and nuclear fusion, fusion reactions (Thermonuclear weapon, thermonu ...
s in the United States arsenal. Honeywell Federal Manufacturing & Technologies, successor to the defense products of AlliedSignal, operates the Kansas City Plant which produces and assembles 85 percent of the non-nuclear components of the bombs.


Home and building controls

Honeywell also 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. Five years later, 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. By 1995, Honeywell had condensed into three divisions: Space and Aviation Control, Home and Building Control, and Industrial Control.


Industrial control

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. It has further acquired Measurex System and
Leeds & Northrup Leeds & Northrup (L&N) was an American electric technology company founded in Philadelphia, Pennsylvania, in 1899. It was formed by Morris E. Leeds and Edwin Fitch Northrup. L&N merged with General Signal in 1978. General Signal divested itself o ...
to strengthen its portfolio.


1999–2002 merger, takeovers


AlliedSignal and Pittway

On June 7, 1999, Honeywell was acquired by
AlliedSignal AlliedSignal was an American aerospace, automotive and engineering company created through the 1985 merger of Allied Corp. and Signal Companies. It subsequently purchased Honeywell for $14.8 billion in 1999, and thereafter adopted the Honeywell n ...
, who elected to retain the Honeywell name for its brand recognition. The former Honeywell moved their headquarters of 114 years to AlliedSignal's in Morristown,
New Jersey New Jersey is a U.S. state, state in the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. It is bordered on the north and east by the state of New York (state), New York; on the ea ...
. While "technically, the deal looks more like an acquisition than a merger...from a strategic standpoint, it is a merger of equals." 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 Morristown () is a Town (New Jersey), town and the county seat of Morris County, New Jersey, Morris County, in the U.S. state of New Jersey.
, rather than Honeywell's former headquarters in
Minneapolis Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with list of lakes in Minneapolis, thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. ...
,
Minnesota Minnesota () is a state in the upper midwestern region of the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primaril ...
. 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, 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. Pittway's Ademco products complemented Honeywell's existing unified controls systems.


General Electric Company

In October 2000, Honeywell (then valued at over $21 billion) accepted a takeover bid from then-CEO Jack Welch of
General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston Boston (), officially the City of Boston, is the capital city, state capital a ...
. 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, the
European Commission The European Commission (EC) is the Executive (government), executive of the European Union (EU). It operates as a cabinet government, with 27 European Commissioner, members of the Commission (informally known as "Commissioners") headed by a P ...
's competition commissioner,
Mario Monti Mario Monti, (born 19 March 1943) is an Italian economist and academic who served as the Prime Minister of Italy from 2011 to 2013, leading a Technocratic government (Italy), technocratic government in the wake of the European sovereign-debt c ...
blocked the move. This decision was taken on the grounds that with GE's dominance of the large jet engine market (led by the
General Electric CF34 The General Electric CF34 is a civilian Bypass ratio, high-bypass turbofan developed by GE Aviation, GE Aircraft Engines from its General Electric TF34, TF34 military engine. The CF34 is used on a number of business jet, business and regional ...
turbofan The turbofan or fanjet is a type of airbreathing jet engine that is widely used in aircraft engine, aircraft propulsion. The word "turbofan" is a portmanteau of "turbine" and "fan": the ''turbo'' portion refers to a gas turbine engine which ac ...
engine), its leasing services (
GECAS GECAS (GE Capital Aviation Services) was an Irish–American commercial aviation financing and leasing company. AerCap AerCap Holdings N.V. is an Irish aircraft leasing company based in Dublin. It became the largest aircraft leasing company i ...
), and Honeywell's portfolio of regional
jet engines A jet engine is a type of reaction engine A reaction engine is an engine, engine or motor that produces thrust by expelling reaction mass, in accordance with Newton's third law of motion. This law of motion is commonly paraphrased as: "For ...
and
avionics Avionics (a blend word, blend of ''aviation'' and ''electronics'') are the Electronics, electronic systems used on aircraft. Avionic systems include communications, Air navigation, navigation, the display and management of multiple systems, ...
, the new company would be able to "bundle" products and stifle competition through the creation of a horizontal monopoly. US regulators disagreed, finding that the
merger Mergers and acquisitions (M&A) are business transactions in which the ownership of Company, companies, other business organizations, or their operating units are transferred to or Consolidation (business), consolidated with another company or b ...
would improve competition and reduce prices; United States Assistant Attorney General Charles James called the EU's decision "antithetical to the goals of antitrust law enforcement." This led to a drop in morale and general tumult throughout Honeywell, and in turn, the then-CEO Michael Bonsignore was fired as Honeywell looked to turn their business around.


2002–2014 acquisitions and further expansion

In January 2002,
Knorr-Bremse Knorr-Bremse AG is a German manufacturer of Brake, braking systems for Train, rail and commercial vehicles that has operated in the field for over 110 years. Other products in Group's portfolio include intelligent door systems, control compo ...
 – 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 Systems became a subsidiary of Knorr-Bremse AG. Although declining in influence, Honeywell maintains a presence in emerging industries, such as Northern
Alberta Alberta ( ) is one of the thirteen provinces and territories of Canada, provinces and territories of Canada. It is part of Western Canada and is one of the three Canadian Prairies, prairie provinces. Alberta is bordered by British Columbia to t ...
's
oil sands Oil sands, tar sands, crude bitumen, or bituminous sands, are a type of unconventional oil, unconventional petroleum deposit. Oil sands are either loose sands or partially consolidated sandstone containing a naturally occurring mixture of s ...
. Honeywell's Plant integrator is currently deployed in some of the most important plant-sites in the Oil Sands ( Syncrude, Suncor, and others). In February that year, 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 and increasing its labor force to 131,000 as a result of these acquisitions. Under his tenure, Honeywell's stock has nearly tripled from $35.23 in April 2002 to $99.39 as of January 2015. Honeywell made a £1.2bn ($2.3bn) bid for Novar plc in December 2004. The acquisition was finalized on March 31, 2005. In October 2005, Honeywell bought out Dow's 50% stake in UOP for $825 million, giving them complete control over the joint venture in petrochemical and refining technology. In May 2010, Honeywell outbid UK-based
Cinven Cinven is a global private equity firm A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of Startup company, startup or operating companies through a variet ...
and acquired the French company Sperian Protection for $1.4 billion, which was then incorporated into its automation and controls safety unit.


2015–present

In 2015, the headquarters were moved to
Morris Plains, New Jersey Morris Plains is a Borough (New Jersey), borough in Morris County, New Jersey, Morris County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 5,532, David Cote stepped down as CEO on April 1, 2017, and was succeeded by
Darius Adamczyk Darius Adamczyk (born February 8, 1966) is an American businessman. He is the chairman and chief executive officer (CEO) of Honeywell, an American multinational conglomerate. Early life and education Adamczyk was born in Poland on February 8, 196 ...

Darius Adamczyk
, who had been promoted to president and
chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...
(COO) the previous year. Cote served as executive chairman through April 2018. On October 10, 2017, Honeywell announced plans to spinoff its Homes, ADI Global Distribution, and Transportation Systems businesses into two separate, publicly traded companies by the end of 2018. In 2018, Honeywell spun off both Honeywell Turbo Technologies (now
Garrett Advancing Motion Garrett Motion Inc., formerly Honeywell Transportation Systems and Honeywell Turbo Technologies, is an American company primarily involved in engineering, development and manufacturing of turbocharger In an internal combustion engine, a t ...
) and its consumer products business (Resideo); both companies are publicly traded on the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City New York, often called New York City or NYC, is the List o ...

New 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, an 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. Honeywell relocated its corporate headquarters in October 2019 to Charlotte, North Carolina. On July 1, 2019, Honeywell moved employees into a temporary headquarters building in Charlotte before their new building was complete. Honeywell Forge launched as an analytics platform software for industrial and commercial applications such as aircraft, building, industrial, worker and cyber-security. In collaboration with Carnegie Mellon University National Robotics Engineering Center, the Honeywell Robotics was created in Pittsburgh to focus on supply chain transformation. The Honeywell robotic unloader grabs packages in tractor-trailers then places them on conveyor belts for handlers to sort. GoDirect Trade launched as an online marketplace for surplus aircraft parts such as engines, electronics, and APU parts. Honeywell announced, in March 2020, 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. Honeywell announced the spinoff of its quantum division into a separate company named " Quantinuum" in November 2021.


COVID-19 pandemic

In response to the
COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
, Honeywell converted some of its manufacturing facilities in Rhode Island, Arizona, Michigan and Germany to produce supplies of
personal protective equipment Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, elec ...
for healthcare workers. In April 2020, Honeywell began production of
N95 mask An N95 filtering facepiece respirator, commonly abbreviated N95 respirator, is a particulate-filtering facepiece respirator that meets the U.S. National Institute for Occupational Safety and Health (NIOSH) NIOSH air filtration rating#NIOSH cl ...
s at the company's factories in Smithfield and Phoenix, aiming to produce 20 million masks a month. Honeywell's facilities in Muskegon and Germany were converted to produce hand sanitiser for government agencies. 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 Mayor
Eric Garcetti Eric Michael Garcetti (born February 4, 1971) is an American politician who served as the 42nd mayor of Los Angeles from 2013 until 2022. A member of the Democratic Party (United States), Democratic Party, he was first elected in the 2013 Los An ...
announced a deal with Honeywell to produce 24 million N95 masks to distribute to healthcare workers and first responders.
United States President The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal gove ...
Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of Pe ...
visited the
Honeywell Aerospace Honeywell Aerospace is a manufacturer of aircraft engines and avionics, as well as a producer of auxiliary power units (APUs) and other aviation Aviation includes the activities surrounding mechanical flight and the aircraft industry. ...
facility in Phoenix on May 5 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". In April 2021,
Will.i.am William James Adams Jr. (born March 15, 1975), known professionally as will.i.am (pronounced "Will-I-am"), is an American rapper, singer, songwriter and record producer. He is the founding and lead member of the musical group Black Eyed Peas. ...
and 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.


Business groups

The company operates four business groups – Honeywell Aerospace, Honeywell Building Technologies, Safety and Productivity Solutions (SPS), and Performance Materials and Technologies (PMT). Business units within the company are as follows:
Honeywell Aerospace Honeywell Aerospace is a manufacturer of aircraft engines and avionics, as well as a producer of auxiliary power units (APUs) and other aviation Aviation includes the activities surrounding mechanical flight and the aircraft industry. ...
provides 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. In January 2014, Honeywell Aerospace 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. In July 2014, Honeywell's Transportation Systems merged with the Aerospace division due to similarities between the businesses. 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 as Garrett. Honeywell Building Technologies and Honeywell Safety and Productivity Solutions were created when Automation and Control Solutions was split into two in July 2016. Honeywell Building Technologies comprises Honeywell Building Solutions, Environmental and Energy Solutions, and Honeywell Security and Fire. On December 7, 2017, Honeywell announced that it has acquired SCAME, an Italy-based company, to add new fire and gas safety capabilities to its portfolio. Honeywell Safety and Productivity Solutions comprises Scanning & Mobility, Sensing and Internet of Things, and Industrial safety. Honeywell Performance Materials and Technologies comprises six business units: Honeywell UOP, 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.


Corporate governance

Honeywell's current chief executive officer is
Darius Adamczyk Darius Adamczyk (born February 8, 1966) is an American businessman. He is the chairman and chief executive officer (CEO) of Honeywell, an American multinational conglomerate. Early life and education Adamczyk was born in Poland on February 8, 196 ...

Darius Adamczyk
. , the members of the board were:


Acquisitions since 2002

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, Building Technologies (HBT), Safety and Productivity Solutions (SPS), or Performance Materials and Technologies (PMT)) but retain their original brand name.


Environmental record

The
United States Environmental Protection Agency The Environmental Protection Agency (EPA) is an Independent agencies of the United States government, independent executive agency of the United States federal government tasked with environmental protection matters. President Richard Nixon pro ...
states that no corporation has been linked to a greater number of
Superfund Superfund is a United States federal environmental remediation program established by the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA). The program is administered by the United States Environmental Pro ...
toxic waste sites than has Honeywell. Honeywell ranks 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. In 2001, Honeywell agreed to pay $150,000 in civil penalties and to perform $772,000 worth of reparations for environmental violations involving: * failure to prevent or repair leaks of hazardous organic pollutants into the air * failure to repair or report refrigeration equipment containing
chlorofluorocarbons Chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) are fully or partly Halogenation, halogenated Hydrocarbon, hydrocarbons that contain carbon (C), hydrogen (H), chlorine (Cl), and fluorine (F), produced as volatility (chemistry), v ...
* inadequate reporting of
benzene Benzene is an Organic compound, organic chemical compound with the Chemical formula#Molecular formula, molecular formula C6H6. The benzene molecule is composed of six carbon atoms joined in a planar Ring (chemistry), ring with one hydrogen atom ...
,
ammonia Ammonia is an inorganic chemical compound, compound of nitrogen and hydrogen with the chemical formula, formula . A Binary compounds of hydrogen, stable binary hydride, and the simplest pnictogen hydride, ammonia is a colourless gas with a dis ...
,
nitrogen oxide Nitrogen oxide may refer to a binary compound of oxygen and nitrogen, or a mixture of such compounds: Charge-neutral *Nitric oxide (NO), nitrogen(II) oxide, or nitrogen monoxide *Nitrogen dioxide (), nitrogen(IV) oxide *Nitrogen trioxide (), or ni ...
,
dichlorodifluoromethane Dichlorodifluoromethane (R-12) is a colorless gas usually sold under the brand name Freon-12, and a chlorofluorocarbon halomethane (CFC) used as a refrigerant and aerosol spray#Aerosol propellants, aerosol spray propellant. Complying with the Montr ...
,
sulfuric acid Sulfuric acid (American spelling and the preferred IUPAC name) or sulphuric acid (English in the Commonwealth of Nations, Commonwealth spelling), known in antiquity as oil of vitriol, is a mineral acid composed of the elements sulfur, oxygen ...
,
sulfur dioxide Sulfur dioxide ( IUPAC-recommended spelling) or sulphur dioxide (traditional Commonwealth English) is the chemical compound with the formula . It is a toxic gas responsible for the odor of burnt matches. It is released naturally by volcani ...
, and
caprolactam Caprolactam (CPL) is an organic compound with the chemical formula, formula (CH2)5C(O)NH. This colourless solid is a lactam (a cyclic amide) of caproic acid. Global demand for this compound is approximately five million tons per year, and the vast ...
emissions In 2003, a federal judge in
Newark, New Jersey Newark ( , ) is the List of municipalities in New Jersey, most populous City (New Jersey), city in the U.S. state of New Jersey and the county seat, seat of Essex County, New Jersey, Essex County and the second largest city within the New Yo ...
, ordered the company to perform an estimated $400 million
environmental remediation Environmental remediation deals with the removal of pollution or contaminants from Natural environment, environmental media such as soil, groundwater, sediment, or surface water. Remedial action is generally subject to an array of regulatory requi ...
of chromium waste, citing "a substantial risk of imminent damage to public health and safety and imminent and severe damage to the environment." In the same year, Honeywell paid $3.6 million to avoid a federal trial regarding its responsibility for
trichloroethylene The chemical compound trichloroethylene is a halocarbon commonly used as an industrial solvent. It is a clear, colourless non-flammable liquid with a chloroform-like sweet smell. It should not be confused with the similar 1,1,1-trichloroethane, w ...
contamination in
Lisle, Illinois Lisle ( ) is a village in DuPage County, Illinois, DuPage County, Illinois, United States. The population was 22,390 at the 2010 census, and in 2019 the population was recorded to be 23,270. It is part of the Chicago metropolitan area and the Illi ...
. In 2004, the
State of New York New York, officially the State of New York, is a U.S. state, state in the Northeastern United States. It is often called New York State to distinguish it from its largest city, New York City. With a total area of , New York is the List of U.S. ...
announced 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 into
Onondaga Lake Onondaga Lake is a lake in Central New York, immediately northwest of and adjacent to Syracuse, New York. The southeastern end of the lake and the southwestern shore abut industrial areas and expressways; the northeastern shore and northwestern e ...
in
Syracuse, New York Syracuse ( ) is a City (New York), city in and the county seat of Onondaga County, New York, Onondaga County, New York, United States. It is the fifth-most populous city in the state of New York following New York City, Buffalo, New York, Buffa ...
, from a former Allied Chemical property. Honeywell established three water treatment plants by November 2014, and the chemicals cleanup site removed 7 tons of mercury. 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.” By December 2017, Honeywell completed dredging the lake and, later that month, 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. In 2005, the state of
New Jersey New Jersey is a U.S. state, state in the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. It is bordered on the north and east by the state of New York (state), New York; on the ea ...
sued Honeywell, Occidental Petroleum, and PPG to compel cleanup of more than 100 sites contaminated with chromium, a metal linked to lung cancer,
ulcer An ulcer is a discontinuity or break in a bodily membrane that impedes normal function of the affected organ. According to Robbins's pathology, "ulcer is the breach of the continuity of skin, epithelium or mucous membrane caused by sloughing o ...
s, and
dermatitis Dermatitis is inflammation of the Human skin, skin, typically characterized by itchiness, erythema, redness and a rash. In cases of short duration, there may be small blisters, while in long-term cases the skin may become lichenification, thick ...
. In 2008, the state of
Arizona Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a U.S. state, state in the Southwestern United States. It is the list of U.S. states and territories by area, 6th largest and the list of U.S. states and territories by population, 14 ...
made 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 the years of 1974 and 2004. In 2006, Honeywell announced that its decision to stop manufacturing
mercury switch A mercury switch is an electrical switch that opens and closes a electrical circuit, circuit when a small amount of the liquid metal mercury (element), mercury connects metal electrodes to close the circuit. There are several different basic des ...
es had resulted in reductions of more than 11,300 kg (24,900 lb), 2800 kg (6200 lb), and 1500 kg (3300 lb) respectively of mercury, lead, and
chromic acid The term chromic acid is usually used for a mixture made by adding concentrated sulfuric acid to a Chromate and dichromate, dichromate, which may contain a variety of compounds, including solid chromium trioxide. This kind of chromic acid may be ...
usage. The largest reduction represents 5% of mercury use in the United States. 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.


Carbon footprint

Honeywell reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 2,248 Kt (-89 /-3.8% y-o-y)Alt URL
and aims to reach net zero emissions by 2035.


Criticism

On March 10, 2013, ''
The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its The Wall Street Journal Asia, ...
'' reported that Honeywell was one of sixty companies that shielded annual profits from U.S. taxes. In December 2011, the non-partisan liberal organization
Public Campaign Every Voice is an American nonprofit, progressive liberal political advocacy organization.
criticized Honeywell International for spending $18.3 million on
lobbying In politics, lobbying, persuasion or interest representation is the act of lawfully attempting to influence the actions, policies, or decisions of government officials, most often legislators or members of regulatory agency, regulatory agencie ...
and not paying any taxes during 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. Honeywell has also been criticized in the past for its manufacture of deadly and maiming weapons, such as cluster bombs.


See also

* List of Honeywell products and services *
Top 100 US Federal Contractors The Top 100 Contractors Report is a list developed annually by the U.S. General Services Administration as part of its tracking of U.S. federal government procurement, of the "Top 100" contractors in the United States. In fiscal year 2005, the fe ...


Explanatory notes


References


External links

* {{authority control 1906 establishments in Minnesota Aerospace companies of the United States Aircraft component manufacturers of the United States Aircraft engine manufacturers of the United States Auto parts suppliers of the United States Avionics companies Companies based in Charlotte, North Carolina Companies formerly listed on the New York Stock Exchange Companies in the Dow Jones Industrial Average Companies listed on the Nasdaq Conglomerate companies established in 1906 Conglomerate companies of the United States Defense companies of the United States Defunct computer companies of the United States Electrical wiring and construction supplies manufacturers Electronics companies established in 1906 Engineering companies of the United States Electronic design Home automation companies Honeywell Instrument-making corporations Manufacturing companies based in North Carolina Manufacturing companies established in 1906 Technology companies established in 1906