57 Facts About Honeywell

Honeywell International Inc is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina.

Corporation's current name, Honeywell International Inc, is a product of the merger of Honeywell Inc and AlliedSignal in 1999.

Honeywell was a component of the Dow Jones Industrial Average index from 1999 to 2008.

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.

In 1906, Mark Honeywell founded the Honeywell Heating Specialty Company in Wabash, Indiana, to manufacture and market his invention, the mercury seal generator.

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Honeywell was named the company's first president, alongside W R Sweatt as its first chairman.

In 1931, Minneapolis-Honeywell began a period of expansion and acquisition when they purchased Time-O-Stat Controls Company, giving the company access to a greater number of patents to be used in their controls systems.

Later that same year, Minneapolis-Honeywell would start distributorships across Canada, as well as one in the Netherlands, their first European office.

In 1941, Minneapolis-Honeywell developed a superior tank periscope, camera stabilizers, and the C-1 autopilot.

Honeywell helped develop and manufacture the RUR-5 ASROC for the US Navy.

In 1953, in cooperation with the USAF Wright-Air Development Center, Honeywell developed an automated control unit that could control an aircraft through various stages of a flight, from taxiing, to takeoff, to the point where the aircraft neared its destination and the pilot took over for landing.

On becoming chairman of Honeywell, Binger revamped the company sales approach, placing emphasis on profits rather than on volume.

Honeywell officially changed the company's corporate name from "Minneapolis-Honeywell Regulator Co.

Eight years later, Honeywell formed Honeywell High Tech Trading to lease their foreign marketing and distribution to other companies abroad, in order to establish a better position in those markets.

Minnesota-Honeywell Corporation completed flight tests on an inertia guidance sub-system for the X-20 project at Eglin Air Force Base, Florida, utilizing an NF-101B Voodoo by August 1963.

The Honeywell project, founded in 1968, organized protests against the company to persuade it to abandon weapons production.

In 1980, Honeywell bought Incoterm Corporation to compete in both the airline reservations system networks and bank teller markets.

Honeywell purchased minicomputer pioneer Computer Control Corporation in 1966, renaming it as Honeywell's Computer Control Division.

In 1970, Honeywell acquired GE's computer business forming Honeywell Information Systems.

Some of Honeywell's systems were minicomputers, such as their Series 60 Model 6 and Model 62 and their Honeywell 200; the latter was an attempt to penetrate the IBM 1401 market.

In 1988 Honeywell Bull was consolidated into Groupe Bull and in 1989 renamed to Bull, a Worldwide Information Systems Company.

In 1990, Honeywell spun off their Defense and Marine Systems business into Alliant Techsystems, as well as their Test Instruments division and Signal Analysis Center to streamline the company's focus.

Honeywell continues to supply aerospace products including electronic guidance systems, cockpit instrumentation, lighting, and primary propulsion and secondary power turbine engines.

In 1996, Honeywell acquired Duracraft and began marketing its products in the home comfort sector.

Honeywell is in the consortium that runs the Pantex Plant that assembles all of the nuclear bombs in the United States arsenal.

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Honeywell began the SmartHouse project to combine heating, cooling, security, lighting, and appliances into one easily controlled system.

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.

Honeywell dissolved its partnership with Yamatake Company and consolidated its Process Control Products Division, Process Management System Division, and Micro Switch Division into one Industrial Control Group.

On June 7, 1999, Honeywell was acquired by AlliedSignal, who elected to retain the Honeywell name for its brand recognition.

The former Honeywell moved their headquarters of 114 years to AlliedSignal's in Morristown, New Jersey.

When Honeywell closed its corporate headquarters in Minneapolis, over one thousand employees lost their jobs.

Analyst David Jarrett commented that "while Honeywell offered a hefty premium, it's still getting Pittway for a bargain" at $45.

In October 2000, Honeywell accepted a takeover bid from then-CEO Jack Welch of General Electric.

Since 2002, Honeywell has made more than 80 acquisitions and 60 divestures, while adding $12 billion in new sales and increasing its labor force to 131, 000 as a result of these acquisitions.

In May 2010, Honeywell outbid UK-based Cinven and acquired the French company Sperian Protection for $1.

Google parent Alphabet Inc and Honeywell said they reached a "patent cross-license" agreement that "fully resolves" the long-standing dispute.

On October 10, 2017, Honeywell announced plans to spinoff its Homes, ADI Global Distribution, and Transportation Systems businesses into two separate, publicly traded companies by the end of 2018.

In 2018, Honeywell spun off both Honeywell Turbo Technologies and its consumer products business (Resideo); both companies are publicly traded on the New York Stock Exchange.

Honeywell's shares traded at over $158 per share, and its market capitalization was valued at over US$113.

Honeywell relocated its corporate headquarters in October 2019 to Charlotte, North Carolina.

On July 1, 2019, Honeywell moved employees into a temporary headquarters building in Charlotte before their new building was complete.

Honeywell Forge launched as an analytics platform software for industrial and commercial applications such as aircraft, building, industrial, worker and cyber-security.

In collaboration with Carnegie Mellon University National Robotics Engineering Center, the Honeywell Robotics was created in Pittsburgh to focus on supply chain transformation.

Honeywell announced, in March 2020, its quantum computer is based on trapped ions, its expected quantum volume is at least 64; which Honeywell's CEO called the world's most powerful quantum computer.

Honeywell announced the spinoff of its quantum division into a separate company named "Quantinuum" in November 2021.

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Several state governments contracted Honeywell to produce N95 particulate-filtering face masks during the pandemic.

Honeywell Aerospace provides avionics, aircraft engines, flight management systems, and service solutions to manufacturers, airlines, airport operations, militaries, and space programs.

In January 2014, Honeywell Aerospace launched its SmartPath Precision Landing System at Malaga-Costa del Sol Airport in Spain, which augments GPS signals to make them suitable for precision approach and landing, before broadcasting the data to approaching aircraft.

In June 2018 Honeywell spun off and rebranded its Transportation Systems as Garrett.

Honeywell Building Technologies and Honeywell Safety and Productivity Solutions were created when Automation and Control Solutions was split into two in July 2016.

On December 7, 2017, Honeywell announced that it has acquired SCAME, an Italy-based company, to add new fire and gas safety capabilities to its portfolio.

Honeywell's acquisitions have consisted largely of businesses aligned with the company's existing technologies.

In 2001, Honeywell agreed to pay $150, 000 in civil penalties and to perform $772, 000 worth of reparations for environmental violations involving:.

Honeywell established three water treatment plants by November 2014, and the chemicals cleanup site removed 7 tons of mercury.

In 2008, the state of Arizona made a settlement with Honeywell to pay a $5 million fine and contribute $1 million to a local air-quality cleanup project, after allegations of breaking water-quality and hazardous-waste laws on hundreds of occasions between the years of 1974 and 2004.

On March 10, 2013, The Wall Street Journal reported that Honeywell was one of sixty companies that shielded annual profits from U S taxes.

Honeywell has been criticized in the past for its manufacture of deadly and maiming weapons, such as cluster bombs.