Honeywell, a leading global company serving various industries, announced today that its Board of Directors is continuing the comprehensive business portfolio evaluation launched earlier this year. The goal is to explore additional strategic alternatives, including the potential separation of its Aerospace business, with the aim of unlocking shareholder value.
Chairman and CEO Vimal Kapur stated that since realigning the company’s business segments in January, Honeywell has made significant progress in optimizing its portfolio to deliver superior growth and create incremental shareholder value. The company is now well-positioned for transformational alternatives and is evaluating their feasibility and possible timing.
As part of its strategic actions, Honeywell has recently announced several acquisitions worth approximately $9 billion, including the Access Solutions business from Carrier Global and the liquefied natural gas (LNG) business from Air Products. The company also plans to spin off its Advanced Materials business into an independent, U.S. publicly traded company.
Honeywell’s Board of Directors remains committed to maximizing shareholder value creation and will evaluate any decision against this goal. The company provides actionable solutions and innovations through its Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments, helping organizations solve complex challenges.
The announcement contains forward-looking statements that address future activities, events, or developments. These statements are based on management’s assumptions and assessments in light of past experience and trends. However, actual results may differ significantly from those envisaged by these statements.
Honeywell will provide an update with its fourth quarter 2024 earnings release.
Source: https://www.prnewswire.com/news-releases/honeywell-explores-strategic-alternatives-for-unlocking-shareholder-value-continues-review-of-transformational-portfolio-actions-302332178.html