 | |
Former headquarters in New Jersey
| |
| Public | |
| Traded as | |
| ISIN | US4385161066 |
| Industry | Conglomerate |
| Predecessor | Honeywell Inc. AlliedSignal Inc. |
| Founded | 1906 Wabash, Indiana |
| Founder | Mark C. Honeywell |
| Headquarters | Charlotte, North Carolina, |
Area served
| Worldwide |
Key people
| Darius Adamczyk (chairman and CEO) |
| Revenue |  US$41.802 billion (2018) |
 US$6.859 billion (2018) | |
| US$6.765 billion (2018) | |
| Total assets | US$57.773 billion (2018) |
| Total equity | US$18.358 billion (2018) |
Number of employees
| 114,000 (2018) |
| Website | honeywell |
Honeywell International Inc. is a publicly traded conglomerate headquartered in Charlotte, North Carolina, United States that produces commercial and consumer products, engineering services and aerospace systems.
In 2018, Honeywell ranked 77th in the Fortune 500. Honeywell has a global workforce of approximately 110,000, of whom approximately 44,000 are employed in the United States.
History
1886 Butz Thermo-Electric Regulator Company founded
In 1885 when the Swiss-born Albert Butz invented the damper-flapper, a thermostat for coal furnaces, to automatically regulate heating systems.
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 growing debts, and they
underwent several name changes in an attempt to keep the business
afloat. After the company was renamed to 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 founded the Honeywell Heating Specialty Company in Wabash, Indiana, 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 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.
A World War II-era Honeywell C-1 autopilot control panel
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.
In World War II
With the outbreak of war,
Minneapolis-Honeywell was approached by the US military for engineering
and manufacturing projects. In 1941, Minneapolis-Honeywell developed a
superior tank periscope and camera stabilizers, as well as the C-1
autopilot. The C-1 revolutionized precision bombing in the war effort,
and was used on the two B-29
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 gas gauges for planes, 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, ultrasonics, and telemetry technologies. Honeywell also helped
develop and manufacture the RUR-5 ASROC 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, to takeoff, to the point where the aircraft neared its destination and the pilot took over for landing. Called the Automatic Master Sequence Selector, the onboard control operated similarly to a player piano to relay instructions to the aircraft's autopilot at certain way points during the flight, significantly reducing the pilot's workload. Technologically, this effort had parallels to contemporary efforts in missile guidance and numerical control. Honeywell also developed the Wagtail missile with the USAF.
Honeywell-Pentax-Spotmatic
From the 1950s until the mid-1970s, Honeywell was the United States' importer of Japanese company Asahi Optical's Pentax 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.
Honeywell 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.
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 operating system project. The design and features of Multics greatly influenced the Unix 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, and Control Data Corporation 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 systems, napalm, and land mines. Minnesota-Honeywell Corporation completed flight tests on an inertia guidance sub-system for the X-20 project at Eglin Air Force Base, 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.
In year 1975, Honeywell introduced the world's first Total
Distributed Control System (TDC 2000) that revolutionized the entire
process control industry with a centralized view of de-centralized
control and a fully redundant communication link for continuous
processes. Honeywell further introduced a state-of-the-art Total
Distributed Control System 3000 or TDC 3000 in 1985. The new TDC 3000
system adopted a brand new architecture that allowed the existing TDC
2000 system to be integrated with the new system as well as future
expansion through a new in-house developed network operating system for
performing various plant-wide control, monitoring, alarming, reporting,
and historical date storage & retrieval functions. A new modular
controller, Process Manager, was introduced in a later date that
included advanced control strategies and modeling as part of the new
TDC-3000 system. TDC 3000 system was the backbone of Honeywell
Industrial Solutions for Petroleum, PetroChem, Fine Chemical, Pulp &
Paper, Power Gen, and many other industries. Along with TDC systems,
Honeywell also developed a digital communication protocol to allow
Honeywell's Smart Transmitters family of products to interface with TDC
system in a non-ambiguous digital mode that delivered Honeywell's
commitment of total system integration from sensors to boardroom.
Honeywell Information Systems
On April 12, 1955, Minneapolis-Honeywell started a joint venture with Raytheon 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 out 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" 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, and UNIVAC. 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 1975 it purchased Xerox Data Systems, whose Sigma computers had a small but loyal customer base. In 1986 HIS merged with Groupe Bull,
a global joint venture with Compagnie des Machines Bull of France and
NEC Corporation of Japan to become Honeywell Bull. 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 Sperry Aerospace. In 1990, Honeywell spun off their Defense and Marine Systems business into Alliant Techsystems, 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 bombs 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 & 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 Company to
strengthen its portfolio.
1999–2002 merger, takeovers
Honeywell International Inc., is the product of a merger in which Honeywell Inc. was acquired by the much larger AlliedSignal
in 1999. The company headquarters were consolidated with AlliedSignal's
headquarters in Morristown, New Jersey; however the combined company
chose the name "Honeywell" because of its superior brand recognition.
AlliedSignal and Pittway
On June 7, 1999, Honeywell was acquired by AlliedSignal, 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, NJ. 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 current "Honeywell International Inc." is the product of a merger between AlliedSignal
and Honeywell Inc. Although AlliedSignal was twice the size of
Honeywell, the combined company chose the name "Honeywell" because of
its superior brand recognition. However, the corporate headquarters were
consolidated to AlliedSignal's headquarters in Morristown, New Jersey, rather than Honeywell's former headquarters in Minneapolis, 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,
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.
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's competition commissioner, Mario Monti 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 turbofan engine), its leasing services (GECAS), and Honeywell's portfolio of regional jet engines and avionics, 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 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
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Honeywell glass 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 Systems became a subsidiary of Knorr-Bremse AG. Although declining in influence, Honeywell maintains a presence in emerging industries, such as Northern Alberta's oil sands. 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
and acquired the French company Sperian Protection for $1.4 billion,
which was then incorporated into its automation and controls safety
unit.
2015 headquarters relocation
In 2015, the headquarters were moved to Morris Plains. On November 30, 2018, Honeywell announced that its corporate headquarters would be moved to Charlotte, North Carolina.
On July 1, 2019, Honeywell moved employees into a temporary
headquarters building in Charlotte before their new building was
complete.
The 475,000-square-foot building on 40 acres in Morris Plains features
state-of-the-art technology and greater energy efficiency than
Honeywell's Morristown campus, which was underutilized, outdated and
costly, according to Cote.
2015-present
On
December 29, 2015, Honeywell completed the acquisition of Elster for
US$5.1B (announced on July 28, 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
also 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.
In February, 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 on April 1, 2016.
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.
On September 12, 2016, Morris Plain, N.J.-based Honeywell announced
that it would invest $20 million in the first-of-its-kind software
development center and relocate the headquarters of its nearly $10
billion home and building technologies division from suburban
Minneapolis to Atlanta. The expansion will add more than 800 jobs.
David Cote stepped down as CEO on April 1, 2017, and was succeeded by Darius Adamczyk, who had been promoted to president and chief operating officer (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 early 2019 Honeywell launched its home spinoff under the brand Resideo,
focusing mostly on programmable and remotely operated thermostats. In
October 2019, the company announced the establishment of an advanced
technology center called Honeywell Robotics, which will be focused on
innovating and developing artificial intelligence, machine learning,
computer vision and advanced robotics to be used across supply chains.
For the fiscal year 2018, Honeywell reported net income of
US$6.765 billion, with an annual revenue of US$41.802 billion, an
increase of 3.13% over the previous fiscal cycle. Honeywell's shares
traded at over $169 per share, and its market capitalization was valued
at over US$120.26 billion in September 2019.
Business units
The
company operates four business units–Honeywell Aerospace, Honeywell
Building Technologies, Safety and Productivity Solutions (SPS), and
Performance Materials and Technologies (PMT).
Aerospace
Honeywell Aerospace is a global provider of integrated avionics, engines, systems and service solutions
for aircraft manufacturers, airlines, business and general aviation,
military, space and airport operations. Its Commercial Aviation, Defense
& Space and Business & General Aviation business units serve
aircraft manufacturers, airlines, business and general aviation,
military, space and airport operations.
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.
Commercial Aviation
The
Honeywell Commercial Aviation business unit creates products for large
commercial and regional aircraft such as auxiliary power units (APUs),
aircraft environmental control systems, electric power systems, engine
system accessories, flight data and cockpit voice recorders, air traffic
management solutions, radar, navigation and communications systems, aircraft lighting, wheels and brakes.
Defense & Space
Honeywell Defense & Space business unit creates products such as the Honeywell RQ-16 T-Hawk
for the military and space markets including propulsion engines, APUs,
environmental control systems, electric power systems, Avionics and
flight management systems, radar, navigation and communications systems,
inertial sensors, guidance systems, gyroscopes. It also provides
logistics services, including depot maintenance and prepositioning, and
space systems operations for engineering, designing, fabricating,
installing, operating, and maintaining satellite command and control
systems.
Business & General Aviation
Honeywell
Business & General Aviation business unit's products include
aircraft lighting, auxiliary power units, cabin entertainment, cockpit
displays, Communication, navigation and surveillance,
flight management systems, and propulsion engines. The business group
offers services such as flight planning, planning & scheduling, and
maintenance and monitoring.
Transportation Systems
Honeywell Transportation Systems produces engine boosting turbochargers for passenger cars and commercial vehicles.
Home and Building Technologies
Honeywell
HBT was created when the SBG Automation and Control Solutions was split
into two new SBGs, HBT and Safety and Productivity Solutions, in July
2016.
On December 7, 2017, Honeywell announced that it has acquired SCAME, an
Italian-based company, to add new fire and gas safety capabilities to
its portfolio.
Honeywell Building Solutions
Honeywell
Building Solutions (HBS) products and services provide energy
efficiency and security in buildings and communities. Smart grid,
microgrid and on-site power generation, integrated security, building
controls, automation, and management, system service, maintenance and
optimization, and smart building are examples of the technologies
produced by the HBS business unit. HBS optimizes automation technology,
designs and delivers microgrids that provide energy security, and
delivers demand response and energy-efficiency programs to help
utilities and the electrical grid operate optimally.
In June 2016, Honeywell announced a new release of its building
management system, Enterprise Buildings Integrator (EBI) to support the
Middle East region's smart building and cities ambitions. In a
statement, Honeywell said that EBI R500 leverages the connectivity of
today's buildings to help make them more strategic assets that are
green, safe and productive.
Honeywell Smarthomes serve customers worldwide to control
technologies for buildings, homes and industry; turbochargers; and
performance materials. We are building a smarter, safer, and more
sustainable world.
Environmental and Energy Solutions
Honeywell
Environmental and Energy Solutions serves industrial and consumer
customers. Products include air quality, commercial combustion,
commercial components, industrial components, home thermostats
(including smart and wi-fi thermostats), residential combustion, whole
house air quality, whole house water treatment and control, HVAC zoning,
and hydronic heating.
Honeywell Security and Fire
Honeywell
Security and Fire manufactures electronic security systems, intrusion
detection systems, and fire alarms for commercial businesses. They also
manufacture products that cover commercial fire alarm and emergency
communication systems as well as fire detection and notification
devices. The First Alert Professional brand was acquired by Honeywell. The brand was originally owned by Pittway
Corp which franchised a network of independently owned security and
fire alarm dealers in the western hemisphere from the early 1990s known
as First Alert Professional Security Systems. For two decades,
First Alert Professional branded (private labelled) security and fire
alarm panels and Keypads were manufactured by Ademco, Inc., now owned by
Honeywell.
Safety and Productivity Solutions
Honeywell
SPS was created when the SBG Automation and Control Solutions was split
into two new SBGs, Home and Building Technologies and Safety and
Productivity Solutions, in July 2016.
Scanning & Mobility
Products
in Honeywell Scanning & Mobility (HSM) include mobile computers and
bar code scanners, radio frequency identification solutions, voice-enabled workflow and printing solutions.
In 2013, Honeywell completed the acquisition of Intermec, which
included the Vocollect and Enterprise Mobile brands, and integrated them
into Honeywell Scanning & Mobility.
Sensing and Internet of Things
Honeywell
Sensing and Internet of Things (Honeywell SIoT) produces over 50,000
products ranging from snap action, limit, toggle and pressure switches
to position, speed and airflow sensors.
Industrial Safety
Honeywell
Industrial Safety produces fixed and portable gas detection systems and
personal protective equipment, including: protective clothing; fall and
hearing protection products; solutions
that protect hands, head, feet, eyes and face; first responder gear
(turnout gear, EMS, helmets, gloves, boots and hoods), along with
respiratory, welding, first-aid, lockout/tagout and traffic safety
equipment. Brands include Xtratuf.
Performance Materials and Technologies
The
Honeywell Performance Materials and Technologies strategic business
group is divided into six business units. Products include process
technology for oil and gas processing, fuels, films and additives,
special chemicals, electronic materials, and renewable transport fuels.
Honeywell UOP
Honeywell UOP
is a wholly owned subsidiary of Honeywell International Inc. and is
part of Honeywell's Performance Materials and Technologies strategic
business group. Honeywell UOP is an international supplier and licensor
of process technology, catalysts, adsorbents, process plants, and
consulting services to the petroleum refining, petrochemical, and gas
processing industries.
Honeywell Process Solutions
Honeywell Process Solutions offers automation control solutions
to customers internationally. It serves the process and hybrid
industries, including refining, oil and gas, pulp and paper, mining,
minerals and metals, bulk and batch chemicals, petrochemicals,
pharmaceuticals, power transmission and distribution, and power
generation. The business unit also has a global metering business
following the acquisition of Elster Metering in 2015.
Fluorine Products
Honeywell Fluorine Products produces refrigerants, foam insulation blowing agents, aerosols, and solvents.
Electronic Materials
Honeywell
Electronic Materials manufactures and supplies the semiconductor
industry with electronic chemicals, electronic polymers, targets coil
sets and metals, advanced packaging, and thermocouples.
Resins & Chemicals
Honeywell
Resins and Chemicals sells chemical intermediates, including phenol,
cyclohexanone and acetone. It is also a major producer of ammonium
sulfate fertilizer, a co-product of caprolactam production, which is
sold under the Sulf-N® brand. This division was spun off as AdvanSix in 2016.
Specialty Materials
Honeywell
Specialty Materials products include specialty films and additives;
advanced fibers and composites; intermediates; specialty chemicals; and
technologies and materials for petroleum refining.
Corporate governance
Honeywell's current chief executive officer is Darius Adamczyk.
| Darius Adamczyk | Chairman and chief executive officer of Honeywell |
| Duncan B. Angove | President of Infor, Inc. |
| 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) |
| Jaime Chico Pardo | President and chief executive officer, ENESA, S.A. de C.V. (ENESA) |
| D. Scott Davis | Chairman and chief executive officer of United Parcel Service, Inc. (UPS) |
| Linnet F. Deily | Former Deputy U.S. Trade Representative and ambassador |
| Judd Gregg | Former U.S. Senator from New Hampshire |
| Clive R. Hollick | Former chief executive officer of United Business Media |
| Grace D. Lieblein | Vice president of global purchasing and supply chain of General Motors Corporation (GM) |
| George Paz | Chairman and chief executive officer of Express Scripts Holding Company |
| Bradley T. Sheares | Former chief executive officer of Reliant Pharmaceuticals, Inc. |
| Robin L. Washington | Executive vice president and chief financial officer of Gilead Sciences, Inc. |
Current as of April 23, 2018
Products and services
A Honeywell digital compass sensor mounted on a circuit board
Honeywell has many brands that commercial and retail consumers may recognize, including its line of home thermostats (particularly the iconic round type) and Garrett turbochargers. In addition to consumer home products, Honeywell produces thermostats, sensors, security alarm systems, and air cleaners and dehumidifiers.
The company also licenses its brand name for use in various retail
products made by other manufacturers, including air conditioners,
heaters, fans, security safes, home generators, and paper shredders.
Aircraft
Missiles and rockets
Honeywell Scanning and Mobility
- Honeywell AIDC products
- Intermec Products
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, Home and
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 states that no corporation has been linked to a greater number of Superfund 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
- inadequate reporting of benzene, ammonia, nitrogen oxide, dichlorodifluoromethane, sulfuric acid, sulfur dioxide, and caprolactam emissions
In 2003, a federal judge in Newark, New Jersey, ordered the company to perform an estimated $400 million environmental remediation
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 contamination in Lisle, Illinois. In 2004, the State of New York
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 in Syracuse, NY 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 sued Honeywell, Occidental Petroleum, and PPG to compel cleanup of more than 100 sites contaminated with chromium, a metal linked to lung cancer, ulcers, and dermatitis. In 2008, the state of Arizona
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 switches had resulted in reductions of more than 11,300 kg, 2800 kg, and 1500 kg respectively of mercury, lead, and chromic acid 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.
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Harvey Cox holding a Honeywell fragmentation bomb (1973)
Criticism
On March 10, 2013, the WSJ 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 criticized Honeywell International for spending $18.3 million on lobbying 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 5
executives.
Honeywell has also been criticized in the past for its manufacture of deadly and maiming weapons, such as cluster bombs.
