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Company type | Public |
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NYSE: HON S&P 500 Component | |
Industry | Conglomerate |
Predecessor | Honeywell Inc. AlliedSignal Inc. |
Founded | 1906, Wabash, Indiana |
Founder | Mark C. Honeywell |
Headquarters | Morristown, New Jersey, U.S. |
Area served | Worldwide |
Key people | David M. Cote (Chairman and CEO) |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 131,000 (2013)[1] |
Website | Honeywell.com |
![](http://upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Honeywell_round_thermostat.jpg/220px-Honeywell_round_thermostat.jpg)
Honeywell International, Inc. is a multinational conglomerate company that produces a variety of commercial and consumer products. The company operates three business units, known as a Strategic Business Unit –Aerospace, Automation Controls and Solutions (ACS), and Performance Materials and Technologies (PMT).[2][3]
Honeywell’s global headquarters is located in Morristown, New Jersey. The company employs 131,000 people at 1300 sites in 68 countries, of whom approximately 51,000 are employed in the United States.[4]
Honeywell is a Fortune 100 company. In 2013 Honeywell ranked 78th in the Fortune 500.[5] Chief Executive Officer is David M. Cote. The company and its corporate predecessors were listed on the Dow Jones Industrial Average Index from December 7, 1925, until February 9, 2008.
History
The early years: 1885-1927
Honeywell began in 1885 when the Swiss-born Albert Butz invented the damper-flapper to automatically regulate heating systems and founded the Butz Thermo-Electric Regulator Company the following year. 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. Through a new advertising campaign, Sweatt showed the company’s first profit by 1895, and on February 23, 1898 he bought out the remaining shares of the company from the other stockholders.
In 1906, Mark Honeywell founded the Honeywell Heating Specialty Company to manufacture and market his invention, the mercury seal generator. 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 the two companies into the publicly held Minneapolis-Honeywell Regulator Company in 1927. Honeywell was its first president, W.R. Sweatt its first chairman.
International expansion and acquisition: 1927-1985
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. 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 merge into the Minneapolis-Honeywell Regulator Company proved to be a saving grace for the corporation. 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. 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.
Having survived the Depression, 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, The Nautilus. The following year, the company acquired Intervox Company for their sonar, ultrasonics, and telemetry technologies.
In 1953, Honeywell introduced their most famous product, the T-86 Round thermostat.
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 D-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 of Minneapolis-Honeywell.
In 1961, James H. Binger and 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 Computer Control Company in 1966 and 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. In the second half of the 70s, 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.
Integration: aerospace and home & building controls: 1986-2002
Aerospace
1986 marked a new direction for Honeywell, beginning with the acquisition of Sperry Aerospace. The same year, they conceded control of the computer market to IBM and discontinued their computer business. In 1990 Honeywell spun off their Defense and Marine Systems business, Test Instruments division, and Signal Analysis Center to streamline the company’s focus. On June 7, 1999, Honeywell was acquired by AlliedSignal, who elected to retain the Honeywell name for its brand recognition.
The next year, Honeywell (then valued at over $21 billion) accepted a takeover bid from 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.
AlliedSignal
Allied Chemical & Dye Corporation began via a merger of General Chemical (1899), Solvay Process Company (1881), the Barrett Company (1858), Semet-Solvay (1895), and the National Aniline & Chemical Company (1917) in 1920. In 1963, Allied merged with Union Texas Natural Gas, and the following year John T. Connor became president and moved Allied away from its orientation in basic chemicals and toward intermediate and end products which utilized chemicals. 20 years later, Allied acquired the Bendix Corporation and entered the aerospace market. On August 6,1985, Allied Corporation acquired Signal Companies, Inc and became Allied-Signal. In October of 1997, after a decade of various acquisitions, Allied-Signal restructured its three sectors into 11 divisions: Turbocharging Systems; Engines; Aerospace Equipment Systems; Electronics and Avionics Systems; Aerospace Marketing Sales & Service; Federal Manufacturing & Technologies; Automotive Products Group; Truck Brake Systems; Specialty Chemicals; Polymers; and Electronic Materials
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. In 2000, the new Honeywell acquired Pittway to gain a greater share of the fire-protection and security systems market, and merged it into their Home and Building Control division. Pittway’s Ademco products complemented Honeywell’s existing unified controls systems.
Pittway
In 1950, the Pittsburgh Railway Company was founded as a subsidiary of the Standard Gas and Electric Company. Seven years later, Standard Gas and Electric converted itself into a closed-end investment company named Standard Shares. In 1963, operating as an investment company, the company acquired the Alarm Device Manufacturing Company (Ademco) and four years later, in 1967, the Pittsburgh Railway Company changed their name to Pittway. The company focused on its Ademco properties, and in 1984 Ademco acquired multiple regional alarm distribution companies and created Ademco Distribution.
Today’s Honeywell: 2002-Present
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 February 2002, Honeywell’s board appointed their current CEO and Chairman, David M. Cote. Cote has been instrumental in uniting the company cultures of Honeywell, AlliedSignal, and Pittway. In the last decade, Honeywell has made more than 80 acquisitions and 60 divestures, and has increased its labor force to 131,000 as a result of these acquisitions.
Honeywell came into being through the invention of the damper flapper, a thermostat for coal furnaces, by Albert Butz, in 1885 and subsequent innovations in electric motors and process control by Minneapolis Heat Regulator Company tracing back to 1886. In 1906, Mark C. Honeywell founded Honeywell Heating Specialty Co., Inc. in Wabash, Indiana. Honeywell's company merged with Minneapolis Heat Regulator Company in 1927. The merged company was called the Minneapolis-Honeywell Regulator Company. Honeywell was its first president, W.R. Sweatt its first chairman.[6]
Sweatt leadership legacy
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. 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.
For more than thirty years the company annually presented the "H.W. Sweatt Engineer-Scientist Award" to individuals in recognition of their outstanding technical ability and contribution to technical accomplishment of significance for the company and their profession. The award program was canceled after the AlliedSignal and Honeywell merger in 1999.
![](http://upload.wikimedia.org/wikipedia/commons/thumb/4/49/OfficeThermostat.jpg/220px-OfficeThermostat.jpg)
James H. Binger
James H. Binger joined Honeywell in 1943, and became its president in 1961 and its chairman in 1965. 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.[7]
From the 1950s until the mid-1970s, Honeywell was the United States' importer of Pentax cameras and photographic equipment. These products were labeled Honeywell Pentax in the U.S. Under Binger's stewardship from 1961 to 1978 he expanded the company into such fields as defense, aerospace, and computing.
In 1953, in co-operation 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.[8] Technologically, this effort had parallels to contemporary efforts in missile guidance and numerical control.
Computing
Honeywell originally entered the computer business via a joint venture with Raytheon called Datamatic Corp., but soon bought out Raytheon's share and the business became a Honeywell division (Honeywell Information Systems). The computer itself was called the Honeywell 800, later updated to the Honeywell 1800.
Honeywell also purchased minicomputer pioneer Computer Control Corporation (3C's), 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,[9]), they were known as "The BUNCH", after their initials: Burroughs, UNIVAC, NCR, Control Data Corporation, and Honeywell.
![](http://upload.wikimedia.org/wikipedia/commons/thumb/e/ec/Honeywell-Bull_DPS_7_Mainframe_BWW_March_1990.jpg/220px-Honeywell-Bull_DPS_7_Mainframe_BWW_March_1990.jpg)
In 1963, Honeywell introduced a small business computer, the Honeywell 200, to compete with IBM's 1401. That began a product line that continued until the early 1970s.[10]
In 1970, Honeywell bought General Electric's computer division. The company was reorganized into two operating units one of which was Honeywell Information Systems, headed by President Clarence (Clancy) Spangle.
In early 1970's. 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 world wide 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 1970, Honeywell took over responsibility of GE's Multics Operating system. 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 as well.
In 1980, Honeywell bought Incoterm Corporation to compete in in both the Airline reservations system networks and bank teller markets.
In the 1980s, Honeywell developed the first Digital Process Communications protocol for its smart transmitters used in process measurement. Since then, smart communication protocols have evolved into various standardized types, such as the HART protocol and DE protocol.
In 1989 Honeywell's computer division was sold to Groupe Bull. The new company was named Bull HN and later referred to simply as Bull.
Defense interests
Honeywell entered the defense industry in World War II, at first producing aerospace elements. 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.[11] The Honeywell project, founded in 1968, organized protests against the company to persuade it to abandon weapons production[12]
In 1990, Honeywell's defense division was spun off into Alliant Techsystems. 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. Today, Kaz Incorporated owns both Duracraft and Honeywell's home comfort lines.
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.[13]
Performance Materials and Technologies
Honeywell's Performance Materials and Technologies business can trace its heritage to a small sulfuric acid company started by chemist William H. Nichols in 1870. By the end of the 19th century, Nichols had formed several companies and was recognized as a force in America's fledgling chemical industry. Nichols's vision of a bigger, better chemical company took off when he teamed up with investor Eugene Meyer in 1920. Nichols and Meyer combined five smaller chemical companies to create the Allied Chemical & Dye Company, which later became Allied Chemical Corp., and eventually became part of AlliedSignal, the forerunner of Honeywell's Performance Materials and Technologies business. Meyer went on to serve in the Coolidge, Hoover, and Truman administrations and to buy the Washington Post newspaper in 1933. Both he and Nichols have buildings named after them in Honeywell's headquarters in Morristown, New Jersey. Andreas Kramvis is the current President and CEO of the Performance Materials and Technologies division.
GE-Honeywell merger attempt
General Electric announced in 2000 it would attempt to acquire Honeywell; at the time, Honeywell was valued at over $21 billion. The merger was cleared by American authorities but was blocked by the European Commission's competition commissioner, Mario Monti, on July 3, 2001. This decision was taken on the grounds that GE's dominance of the large jet engine market (led by the General Electric CF34 turbofan engine), 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".[14][15] In 2007, General Electric acquired Smiths Aerospace, which had a similar product portfolio.[16]
Today
![](http://upload.wikimedia.org/wikipedia/commons/thumb/b/b9/Honeywell_Global_HQ_jeh.jpg/220px-Honeywell_Global_HQ_jeh.jpg)
The current "Honeywell International Inc." is the product of a merger between AlliedSignal and Honeywell Inc. in 1999. 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 the stock value only regained the pre-merger level in 2007.
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 December 2004, Honeywell made a £1.2bn ($2.3bn) bid for Novar plc.[17][18] The acquisition was finalized on March 31, 2005.[19][20]
In October 2008, Honeywell Ltd. was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., and was featured in Maclean's news magazine. Later that month, Honeywell was also named one of Greater Toronto's Top Employers, which was announced by the Toronto Star newspaper.[21]
In January 2013, Honeywell shut its subsidiary Ex-Or's factory in Haydock, Merseyside, UK.
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.[22]
Six Sigma Plus
Honeywell International is known for its aggressive implementation[citation needed] and daily practice of six sigma and lean manufacturing methodologies commonly referred to as Six Sigma Plus. Six Sigma Plus is focused on reducing errors/failures, improving cycle time, and reducing costs. Recently, Honeywell announced the implementation of a corporate philosophy known as the Honeywell Operating System (HOS), which incorporates practices similar in name only to the Toyota Production System.
Honeywell Technology Solutions
Honeywell Technology Solutions (HTS) is an R&D (research and development) division within Honeywell dedicated to innovative product research. HTS is headquartered in Bangalore, India with an employee strength of over 11000. HTS has development Centers in Hyderabad (India), Madurai (India), Shanghai (China), and Brno (Europe, Czech Republic). Most of the flight management systems are made and tested at these labs.[23] HTS offers technological and R&D services to the various business units of Honeywell International, mainly Aerospace, Automation and Control Solutions (ACS), Performance Materials and Technologies and Transportation Systems. Recently the company started producing car parts also such as radiators and turbochargers.
Corporate governance
David M. Cote | Chairman and Chief Executive Officer of Honeywell International, Inc. |
Gordon M. Bethune | Retired Chairman and Chief Executive Officer of Continental Airlines, Inc. |
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. Leiblein | Vice President, 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. |
Company culture
Honeywell’s company culture under Cote, known as “One Honeywell,” is a series of process initiatives, as well as the following “12 behaviors” instilled in employees: “(1) Growth & Customer Focus, (2) Leadership Impact, (3) Getting Results, (4) Making People Better, (5) Championing Change & Six Sigma, (6) Fostering Teamwork & Diversity, (7) Global Mindset, (8) Intelligent Risk Taking, (9) Self-Awareness/Learning, (10) Effective Communication, (11) Integrative Thinking, and (12) Technical or Functional Excellence.” The One Honeywell culture encompasses several operational processes, including the “Honeywell operating system” (HOS) to emphasize continuous improvement. HOS draws from the management strategies of Six Sigma and the Toyota operating system, and was created after Honeywell staff extensively toured a Toyota plant in 2004. Honeywell has also initiated other operational tools: Functional Transformation (FT) to streamline employee workflow, Velocity Product Development (VPD) to reduce development cycle time and costs, and Honeywell User Experience (HUE) for faster design prototyping and superior usability
Social responsibility
Honeywell started Honeywell Hometown Solutions (HHS) in 2003 to encourage employee volunteerism and provide support in science and math education, family safety and security, housing and shelter, habitat and conservation, and humanitarian relief. HHS has partnered with NASA to promote STEM education. Together they produce FMA Live!, a touring educational musical designed to teach students in grades 5-8 about Newton’s laws of motion and gravity. To promote child safety, HHS has also partnered with the National Center for Missing & Exploited Children to create Got 2B Safe! Think Smart and Take Charge. The program educates third-graders nationwide on simple ways to avoid abductions. HHS’s recent conservation efforts have been focused in Maryland, providing programs to educate young students about their local watershed, the Chesapeake Bay. HHS has also been involved in a number of disaster relief efforts, including those in Haiti in 2011 and China’s Sichuan province in 2008. HHS has also partnered with Rebuilding Together in the U.S. and “since the program's inception more than 5,000 Honeywell employees have completed more than 180 rehabilitation projects.”
Awards
Most Admired Companies (Aerospace and Defense) – FORTUNE magazine (2008-2012)
World’s Most Ethical Companies – Ethisphere Institute (2008, 2009, 2012, 2013)
North American Top Company for Leaders – FORTUNE magazine, Aon Hewitt and The RBL Group (2011)
Malcolm Baldrige National Quality Award (2009)
Human Resources Excellence Award – Steel Authority of India and the Indian Institute of Management (2009)
Best Places to Launch a Career – BusinessWeek magazine (2008)
Blue Ribbon Companies – FORTUNE magazine (2008)
Honeywell Canada Named a Top 100 Employer – Mediacorp Canada Inc. (2009)
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.[24] Honeywell ranks 44th in a list of U.S. corporations most responsible for air pollution, releasing more than 4.25 million kg (9.4 million pounds) of toxins per year into the air.[25] In 2001, Honeywell agreed to pay $150,000 in civil penalties and to perform $772,000 worth of reparations for environmental violations involving:[26]
- 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."[27] In the same year, Honeywell paid $3.6 million to avoid a federal trial regarding its responsibility for trichloroethylene contamination in Lisle, Illinois.[28] 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. As of November 2014, Honeywell has completed dredging the lake and established three water treatment plants, and the chemicals cleanup site has removed 7 tons of mercury. .[29] 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.[30] 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.[31]
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.[32] 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.[33]
Business Units
Honeywell International is comprised of four Strategic Business Groups (SBG): Honeywell Aerospace, Honeywell Automation and Control Systems, and Honeywell Performance Materials and Technologies. Within SBGs are Strategic Business Units (SBU).[34][35]
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.[36][37]
In July 2014, Honeywell’s Transportation Systems merged with the Aerospace division similarities between the businesses.[38]
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.[36]
Defense & Space
Honeywell Defense & Space business unit creates products 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.[36]
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.[36]
Transportation Systems
Honeywell Transportation Systems produces engine boosting turbochargers for passenger cars and commercial vehicles.[36]
Automation and Control Systems
Honeywell ACS business group’s 400+ products are from its seven major product groups: environmental and combustion controls; sensing controls, security and life safety products and services, scanning and mobility, and building solutions and services. Honeywell ACS manufactures automated systems for temperature and humidity, surveillance and security detection, and lighting. Instrumentation products include actuators, controllers, and related software. Additional products include thermostats, security systems (ADEMCO brand), water filters, scanners, remote patient monitoring, protective clothing, and central control systems.[39]
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.[39][40]
Sensing and Control
Honeywell Sensing and Control (Honeywell S&C) produces over 50,000 products ranging from snap action, limit, toggle and pressure switches to position, speed and airflow sensors.[39]
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.[39]
Fire Safety
Honeywell Fire Safety products cover commercial fire alarm and emergency communication systems (Notifier®, Silent Knight®, Gamewell-FCI®, Fire-Lite Alarms®), as well as fire detection and notification devices from System Sensor®.[39]
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.[39][41][42][43]
Environmental and Combustion Controls
Honeywell Environmental and Combustion Controls 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.[39]
Honeywell Security Group
Honeywell Security Group manufactures electronic security systems, burglar alarm systems and fire alarms for residential homes and commercial businesses.[39]
Performance Materials and Technologies
The Honeywell Performance Materials and Technologies strategic business group is comprised of six business units. Products include process technology for oil and gas processing, fuels, films and additives, special chemicals, electronic materials, and renewable transport fuels.[44][45][46]
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.[47][48]
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.[47]
Fluorine Products
Honeywell Fluorine Products produces refrigerants, foam insulation blowing agents, aerosols, and solvents.[47]
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.[47]
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.[47]
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.[47]
Acquisitions
Acquisition | Special Business Group |
---|---|
2002 | |
Invensys Sensor Systems[49] | ACS |
Chadwick Helmuth[50][51] | Aerospace |
Ultrak[52] | ACS |
Mora Moravia[53] | Aerospace |
Shanghai Alarm[54] | ACS |
2003 | |
Silent Witness[55] | ACS |
Sensotec[56] | ACS |
Baker Electronics[57] | Aerospace |
Gamewell[58] | ACS |
Olympo[59] | ACS |
FutureSmart[60] | ACS |
Kolon Films[61] | PMT |
Betatech[62] | ACS |
2004 | |
Hymatic Group[63] | Aerospace |
Genesis Cable[64] | ACS |
HomMed, LLC[65] | ACS |
Aube Technologies[66] | ACS |
Vindicator[67] | ACS |
Electro-Radiation Incorporated (ERI)[68] | Aerospace |
Edgelinx[69] | ACS |
GEM Microelectronics[70] | PMT |
2005 | |
UOP[71] | PMT |
Novar[72] | ACS |
Zellweger[73] | ACS |
Lebow | ACS |
InterCorr International, Inc.[74] | ACS |
Tridium, Inc.[75] | ACS |
2006 | |
Sempra Energy Services[76] | ACS |
First Technology[77] | ACS |
Gardiner Group[78] | ACS |
2007 | |
Plant Automation Systems, Inc. (PAS)[79] | ACS |
Dimensions Int'l[80] | Aerospace |
ActiveEye[81] | ACS |
Burtek[82] | ACS |
Ex-Or[83] | ACS |
Enraf Holdings B.V.[84] | ACS |
Handheld Products[85] | ACS |
Maxon Corporation[86] | ACS |
2008 | |
AV Digital Audio-Videotechnik GmbH[87] | ACS |
Energy Services Group, LLC[88] | ACS |
Metrologic[89] | ACS |
IAC[90] | Aerospace |
Callidus[91] | ACS |
2009 | |
RMG[92] | ACS |
Cythos | ACS |
2010 | |
Akuacom[93] | ACS |
Matrikon[94] | ACS |
E-Mon[95] | ACS |
Sperian[96] | ACS |
2011 | |
EMS[97] | ACS/Aerospace |
Iris Systems[98] | ACS |
Kings Safety Shoes[99] | ACS |
2012 | |
Fire Sentry[100] | ACS |
InnCom[101] | ACS |
Thomas Russell LLC[102] | PMT |
2013 | |
Saia Burgess Controls[103] | ACS |
Intermec[104] | ACS |
RAE Systems[105] | ACS |
Criticism
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.[106]
Honeywell has been criticized in the past for its manufacture of deadly and maiming weapons. The Honeywell Project, for example, targeted Honeywell executives in an attempt to halt the production of cluster bombs.
Products
Aircraft
Missiles and rockets
See also
- Electronics for Medicine
- Garrett AiResearch
- Honeywell Aerospace
- Honeywell Turbo Technologies
- Honeywell 316
- Novar plc
- Trend Controls
- Sperry Corporation
- Top 100 US Federal Contractors
- CYBRA
- The Mircom Group of Companies
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