Honeywell’s board of directors completed a business-portfolio evaluation launched a year ago by Chairman and CEO Vimal Kapur and expressed its intent to pursue a full separation of Automation and Aerospace Technologies.
The planned separation, coupled with the previously announced plan to spin Advanced Materials, will result in three publicly listed companies with distinct strategies and growth drivers. The separation is intended to be completed in the second half of 2026.
"The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies and unlock significant value for shareholders and customers," said Kapur. "Our simplification of Honeywell has rapidly advanced over the past year, and we will continue to shape our portfolio to create further shareholder value. We have a rich pipeline of strategic bolt-on acquisition targets, and we plan to continue deploying capital to further enhance each business as we prepare them to become leading, independent public companies."
Kapur added: “Building on decades of innovation as its heritage, Honeywell Automation will create the buildings and industrial infrastructure of the future, leveraging process technology, software and AI-enabled, autonomous solutions to drive the next generation of productivity, sustainability and safety for our customers. As a standalone company with a simplified operating structure and enhanced focus, Honeywell Automation will be better able to capitalize on the global megatrends underpinning its business, from energy security and sustainability to digitalization and artificial intelligence.
"As Aerospace prepares for unprecedented demand in the years ahead across both commercial and defense markets, now is the right time for the business to begin its own journey as a standalone, public company," Kapur continued. "Today's announcement is the culmination of more than a century of innovation and investment in leading technologies from Honeywell Aerospace that have revolutionized the aviation industry several times over. This next step will further enable the business to continue to lead the future of aviation."
