Tag: Honeywell
Elliott Investment Management calls for breakup at Honeywell
November 12, 2024SSN Staff
WEST PALM BEACH, Fla. — Activist investor group Elliott Investment Management has built a $5 billion dollar investment in Honeywell International inc. and is calling for the company to simplify its conglomerate structure.
In a letter addressed to the Honeywell board of directors, Elliott outlined that while the company has been an “…iconic pillar of the American industrial complex,” it has recently shown signs of inconsistent financial performance and uneven...
Honeywell to spin off advanced materials business
October 8, 2024Ken Showers, Managing Editor
CHARLOTTE, N.C. — Honeywell has announced a plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company, targeted to be completed by the end of 2025 or early 2026.
Vimal Kapur, chairman and CEO of Honeywell, said during a recent webcast with investors that it has been nearly a year since the company announced a reorganization to focus on the three megatrends of automation, aviation and energy transition.
“As we continue to...
Iris ID names Ricky Garcia as business development director, Latin America
October 1, 2024SSN Staff
CRANBURY, N.J.—Iris ID, a global provider of iris recognition technology, has announced the appointment of Jose R. (Ricky) Garcia as business development director, Latin America (LATAM).
Garcia has more than 20 years of experience driving increased revenue and cost efficiencies for global high-end technology companies in LATAM. His diversified sales experience including with startups will propel Iris ID multimodal biometric technology as a solution for national ID projects, access...
DMP adds new pair of regional sales managers
September 30, 2024SSN Staff
SPRINGFIELD, Mo. — Digital Monitoring Products (DMP) grows its ranks with the addition of two new regional sales managers who will represent the Northwest and Ozark territories.
Chris Kelley has joined DMP as the regional sales manager for the Northwest territory. He will provide ongoing service and support to DMP dealers across Washington, Oregon, Idaho, Montana, Wyoming and Alaska.
Kelley joined DMP because of the culture and dedication to its employees and customers. With over 20 years...
Honeywell names Mike Stepniak as incoming CFO
September 5, 2024SSN Staff
CHARLOTTE, N.C.—Honeywell International Inc. has announced that Mike Stepniak, who currently serves as vice president and chief financial officer for Honeywell Aerospace Technologies, will succeed Greg Lewis as senior vice president and chief financial officer following the company's announcement of its fourth quarter and full-year financial results for fiscal year 2024.
Until the transition is complete, Stepniak will serve as vice president, corporate finance. Upon...
Honeywell CEO: ‘We are creating a flywheel of themes’
July 26, 2024Ken Showers, Managing Editor
CHARLOTTE, N.C. — Honeywell’s Aerospace segment saw the largest growth in the second quarter, and the company’s recent acquisition of CAES Systems will only accelerate that.
Honeywell acquired the company in June for $1.9 billion in cash, adding 2,200 employees to its workforce.
“We are excited that this is the second aerospace-focused transaction we have announced this year, underscoring our alignment to the future of aviation,” said Vimal Kapur,...
LenelS2 launches OnGuard Cloud
July 10, 2024SSN Staff
PITTSFORD, N.Y. — LenelS2 has announced the launch of OnGuard Cloud, a managed service leveraging Amazon Web Services (AWS) to deliver the OnGuard access control system in the cloud.
LenelS2 revealed that OnGuard Cloud allows organizations to focus on their security operations by eliminating the IT burden of managing and maintaining their OnGuard software and servers, all while maintaining control over their unique environment configurations. LenelS2 is part of Honeywell, a provider of building...
Honeywell to acquire CAES
June 20, 2024SSN Staff
CHARLOTTE, N.C. — Honeywell has announced that it’s agreed to acquire CAES Systems Holdings LLC (CAES) from private equity firm Advent International for approximately $1.9 billion in an all-cash transaction.
Honeywell said that this acquisition will enhance its defense technology solutions across land, sea, air and space, including new electromagnetic defense solutions for end-to-end radio frequency (RF) signal management. Combined, CAES' scalable offerings and Honeywell's...
Honeywell completes acquisition of Carrier's Global Access Solutions business
June 3, 2024SSN Staff
CHARLOTTE, N.C.—Honeywell has announced the completion of its acquisition of Carrier Global Corporation's Global Access Solutions business for $4.95 billion.
According to Honeywell, the deal positions the company as a leading provider of security solutions for the digital age with opportunities for accelerated innovation in the fast-growing, cloud-based services and solutions space.
This transaction also strengthens Honeywell's alignment of its portfolio around three...
Carrier to sell industrial fire business to Sentinel Capital Partners for $1.425 billion
March 5, 2024SSN Staff
PALM BEACH GARDENS, Fla.—Carrier Global Corp. announced it has entered into a definitive agreement to sell its industrial fire business, which includes brands Det-Tronics, Marioff, Autronica and Fireye, to Sentinel Capital Partners for an enterprise value of $1.425 billion.
Today's announcement represents the latest step in Carrier's ongoing portfolio transformation following the recently announced agreements to sell Carrier's global access...