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Honeywell International Inc.

An American multinational conglomerate corporation

Categories

Energy and Utilities  

#107

Rank

$147.14B

Marketcap

US United States

Country

Honeywell International Inc.
Leadership team

Darius Adamczyk (Chairman & CEO )

Industries

Energy and Utilities

Products/ Services
Aerospace, Building Technologies, Safety and Productivity Solutions (SPS), and Performance Materials and Technologies (PMT)
Number of Employees
Above 50,000
Headquarters
Charlotte, North Carolina, U.S.
Established
1906
Company Registration
SEC CIK #0000048305
Revenue
Above - 1B
Traded as
HON
Social Media
Summary

Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies (PMT), and safety and productivity solutions (SPS). Honeywell is a 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 corporation's current name, Honeywell International Inc., is a product of the merger of Honeywell Inc. and AlliedSignal 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 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 index and the following year moved its stock listing from the New York Stock Exchange to the Nasdaq.

History

The Butz Thermo-Electric Regulator Company was founded in 1885 when the Swiss-born Albert Butz invented the damper-flapper, a 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. In 1906, Mark Honeywell founded the Honeywell Heating Specialty Company in Wabash, Indiana, to manufacture and market his invention, the mercury seal generator. With the outbreak of World War II, Minneapolis-Honeywell was approached by the US military for engineering and manufacturing projects. In 1941, Minneapolis-Honeywell developed a superior tank periscope, camera stabilizers, and the C-1 autopilot. 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 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. 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 response to the COVID-19 pandemic, Honeywell converted some of its manufacturing facilities in Rhode Island, Arizona, Michigan and Germany to produce supplies of personal protective equipment for healthcare workers. In April 2020, Honeywell began production of N95 masks 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.

Mission

Honeywell blends physical products with software solutions to link people and businesses to the information they need. This empowers its clients with enhanced efficiency, productivity, and connectivity.

Vision

The company strives to continuously improve the way they do things so that they can capture greater value not just for themselves, but also for their customers. Honeywell is the company that delivers industry specific solutions including aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally.

Recognition and Awards
2021 Earned "Great Place to Innovate" and "Next Generation Women Leaders" Award at Zinnov Awards. 2019 Fortune World's Most Admired companies. Honeywell was awarded 2013 The Business Council of New York State’s Environmental Committee Chairman’s Award on behalf of the Buffalo River Restoration Project. In 2009, 2008, 2006 and 2005 Honeywell received the Governor’s Award of Honor in Minnesota, the state’s highest award in Occupational Safety. June 2006 - Honeywell’s plant in Freeport, Illinois, received the U.S. Environmental Protection Agency (EPA) award for its outstanding accomplishments in the National Partnership for Environmental Priorities program as a result of reducing the use of mercury, lead and chromic acid in plant operations. January 2005 - Received the Landfill Methane Outreach Program (LMOP) “Project of the Year” award for 2004 from the U.S. Environmental Protection Agency for an innovative landfill gas recovery initiative. 2004 Honeywell Canada was selected for the Work Safe Alberta 2004 Best Safety Performer Awards.
References
Honeywell International Inc.
Leadership team

Darius Adamczyk (Chairman & CEO )

Industries

Energy and Utilities

Products/ Services
Aerospace, Building Technologies, Safety and Productivity Solutions (SPS), and Performance Materials and Technologies (PMT)
Number of Employees
Above 50,000
Headquarters
Charlotte, North Carolina, U.S.
Established
1906
Company Registration
SEC CIK #0000048305
Revenue
Above - 1B
Traded as
HON
Social Media