CHARLOTTE, N.C., February 6, 2025 /PRNewswire/ — Honeywell (NASDAQ: HON) today announced that its Board of Directors has completed a thorough business portfolio review launched a year ago by Chairman and CEO Vimal Kapur. The company will fully separate its Automation and Aerospace Technologies businesses. This strategic move, in conjunction with the Advanced Materials spin-off announced earlier, will result in three standalone publicly traded companies, each with unique strategies and growth drivers. The separation is expected to be completed in the second half of 2026 in a tax-free manner to Honeywell shareholders.

“The creation of these three standalone industry champions is a major step in delivering value to our shareholders and customers,” said Vimal Kapur, Chairman and CEO of Honeywell. “This simplification and separation will enable each business to concentrate on its distinct growth strategy and better address the needs of its markets. Our strong portfolio, combined with a robust pipeline of strategic acquisitions, will further enhance these businesses as they transition into independent public companies.”

Separation into three companies will be structured as follows:

Honeywell Automation: The company will position itself as a global leader in the industrial sector’s shift toward autonomy. It will focus on technologies that drive productivity, sustainability, and safety. With revenue of $18 billion in 2024, it will use AI, process technology, and software to deliver next-generation solutions for energy security, digitalization, and industrial infrastructure.

Honeywell Aerospace: As one of the world’s largest aerospace suppliers, Honeywell Aerospace will continue its pioneering work in commercial and defense aviation. With $15 billion in annual revenue, the company’s advanced technologies in propulsion, navigation, and power systems will lead the future of aviation, driven by electrification and flight autonomy.

Honeywell Advanced Materials: This specialty chemicals and materials firm will follow in the long tradition of innovation through sustainable products with nearly $4 billion in revenues. More focused on fluorine products, electronic materials, industrial fibers, and healthcare packaging, it is to be positioned for strong returns with the flexibility in capital allocation strategy.

Honeywell’s efforts on simplification can also be seen in its dedicated capital deployment strategy. The company has said that at least $25 billion of capital expenditures, dividends, share purchases, and accretive acquisitions will be deployed by 2025. Acquisition closing was recent, while Access Solutions business and other several businesses have recently been acquired. Honeywell has announced plans to divest the business of Personal Protective Equipment. End.

The separation of Honeywell’s Automation and Aerospace businesses is tax-free to shareholders, and is expected to be completed by the second half of 2026. The Advanced Materials spin-off is expected to be completed by late 2025 or early 2026. Each company will have the necessary financial flexibility to capitalize on future growth opportunities, maintaining strong investment-grade credit ratings.

For more details on Honeywell’s strategy and plans, join the company’s investor conference call today at 8:30 a.m. Eastern Time. A live webcast will be available through the Investor Relations section of Honeywell’s website.

About Honeywell Honeywell is an American multinational technology and industrial company that focuses its solutions on the aerospace, industrial automation, building automation, and energy sustainability business. The firm assists organizations tackle some of the world’s hardest challenges by bringing smarter, safer, and more sustainable solutions to life. Go to www.honeywell.com for more details.

Forward Looking Statements:

In addition to the cautionary statements contained in this press release, please also refer to Honeywell’s Form 10-K and other filings with the U.S. Securities and Exchange Commission for discussion of various risks, uncertainties, and other factors that could cause actual results to differ materially from such forward-looking statements.