Honeywell facts for kids

Quick facts for kids
Honeywell International Inc.

Headquarters in Charlotte, North Carolina
Type	Public
Traded as	NASDAQ: HON Nasdaq-100 component DJIA component S&P 100 component S&P 500 component
Industry	Conglomerate
Predecessor	Honeywell Inc. AlliedSignal Inc.
Founded	1906; 119 years ago (1906) in Wabash, Indiana, U.S.
Founder	Mark C. Honeywell (for the Honeywell Inc. line)
Headquarters	Charlotte, North Carolina, U.S.
Area served	Worldwide
Key people	Darius Adamczyk (chairman) Vimal Kapur (CEO)
Revenue	US$36.66 billion (2023)
Operating income	US$7.159 billion (2023)
Net income	US$5.672 billion (2023)
Total assets	US$61.53 billion (2023)
Total equity	US$16.43 billion (2023)
Number of employees	c. 95,000 (2023)
Subsidiaries	Honeywell Aerospace Technologies Honeywell Automation India Intermec RAE Systems Honeywell UOP Tridium

Honeywell International Inc. is a big American company that works all over the world. It's based in Charlotte, North Carolina. Honeywell makes many different products. These include things for airplanes, smart systems for buildings, special materials, and safety equipment.

Honeywell is a very large company, ranked among the top 500 in the U.S. In 2023, about 95,000 people worked for Honeywell worldwide. The company's current leader is Vimal Kapur, who is the CEO. Darius Adamczyk is the chairman.

The name Honeywell International Inc. came about in 1999. This was after Honeywell Inc. joined with another company called AlliedSignal. They kept the name "Honeywell" because it was very well-known. Honeywell was also part of the Dow Jones Industrial Average, which is a list of major U.S. companies. It was on this list from 1999 to 2008, and then rejoined in 2020. In 2021, Honeywell moved its stock listing to the Nasdaq stock exchange.

History of Honeywell

The story of Honeywell began in 1885. A man named Albert Butz invented a special thermostat. This device helped control coal furnaces automatically. He started a company called the Butz Thermo-Electric Regulator Company.

After some changes, the company was renamed the Electric Heat Regulator Company in 1893. A stockholder named W.R. Sweatt took over. By 1900, Sweatt owned all the shares of the company.

Honeywell Heating Specialty Company Starts (1906)

In 1906, Mark Honeywell started his own company. It was called the Honeywell Heating Specialty Company. He started it in Wabash, Indiana. His goal was to make and sell his invention, the mercury seal generator.

Company Mergers and Growth (1922–1934)

As Mark Honeywell's company grew, it started to compete with Sweatt's company. In 1927, the two companies decided to join together. They formed a new company called the Minneapolis-Honeywell Regulator Company. Mark Honeywell became the first president, and W.R. Sweatt became the first chairman.

By 1929, the combined company was worth a lot of money. In 1931, they bought another company, Time-O-Stat Controls Company. This helped them get more patents for their control systems. W.R. Sweatt and his son Harold led the company for 75 years. They helped turn a simple idea into a successful business.

Growing Around the World (1934–1941)

Harold Sweatt took over in 1934. He helped Honeywell grow and expand globally. This set the stage for Honeywell to become a worldwide technology leader.

In 1934, Minneapolis-Honeywell started selling products internationally. They began working with the Yamatake Company in Tokyo, Japan. They also opened offices in Canada and the Netherlands. By 1937, the company had over 3,000 employees. Their yearly earnings were $16 million.

Honeywell During World War II

When World War II began, the U.S. military asked Minneapolis-Honeywell for help. In 1941, Honeywell created a better tank periscope. They also made camera stabilizers and the C-1 autopilot.

A World War II-era Honeywell C-1 autopilot control panel

The C-1 autopilot was very important for precision bombing. It was even used on the planes that dropped atomic bombs in 1945. Because of this success, Honeywell opened a new Aero division in Chicago in 1942. This division worked on things like fuel gauges for aircraft.

After the war, in 1950, Honeywell's Aero division worked on controls for the first U.S. nuclear submarine, the USS Nautilus. They also helped develop missiles for the U.S. Navy.

New Products and Changes (1950–1970s)

In 1953, Honeywell worked with the U.S. Air Force. They developed an automatic control unit for aircraft. This unit could control a plane from takeoff until it neared its destination. This greatly reduced the pilot's work.

A Honeywell-Pentax-Spotmatic camera

From the 1950s to the mid-1970s, Honeywell imported Pentax cameras to the U.S. These cameras were sold as "Honeywell Pentax." In 1953, Honeywell also introduced its famous T-86 Round thermostat.

A Honeywell thermostat

In 1961, James H. Binger became Honeywell's president. He focused on making more profit. He also expanded the company's international presence. In 1965, he officially changed the company's name to "Honeywell." This was because people already called it that. Honeywell also bought other businesses, like Security Burglar Alarm Company in 1969.

In the 1970s, Honeywell focused on industrial controls. They combined their computer operations with GE's information systems in 1970. Honeywell also helped create a joint company called Magnetic Peripherals Inc. This company became important in making hard disk drives.

Honeywell was a leader in 14-inch disk drive technology. They also expanded into international markets again. In 1976, they bought a French company called Compagnie Internationale pour l’Informatique. By 1978, James Binger had expanded Honeywell into defense, aerospace, and computing.

During the Vietnam Era, Honeywell's defense part made military equipment. This led to protests against the company. The "Honeywell project" was formed in 1968 to protest the company's involvement in making weapons.

In 1980, Honeywell bought Incoterm Corporation. This helped them compete in airline reservation systems and bank teller markets.

Honeywell Information Systems

A 1990 Honeywell-Bull Entry Level Mainframe DPS 7 mainframe

In 1955, Minneapolis-Honeywell started a joint project with Raytheon. They wanted to enter the computer market. In 1957, they sold their first computer, the DATAmatic 1000. By 1960, Honeywell bought Raytheon's share. This became Honeywell Information Systems (HIS).

Honeywell bought Computer Control Corporation in 1966. Throughout the 1960s, Honeywell was one of the major computer companies. They were often called one of the "Seven Dwarfs" of computing, with IBM being "Snow White."

In 1970, Honeywell bought GE's computer business. They renamed GE's large computers as Honeywell 6000 series. In 1987, HIS joined with Groupe Bull of France and NEC Corporation of Japan. This new company was called Honeywell Bull. By 1991, Honeywell was no longer directly involved in the computer business.

Changes and Acquisitions (1985–1999)

Aerospace and Defense

In 1986, Honeywell started a new direction. They bought the Sperry Aerospace Group. In 1990, Honeywell sold off its Defense and Marine Systems business. This helped the company focus more. Honeywell still makes aerospace products. These include electronic guidance systems and jet engines.

Honeywell is also part of a group that runs the Pantex Plant. This plant assembles nuclear bombs in the United States. Honeywell Federal Manufacturing & Technologies makes many parts for these bombs.

Home and Building Controls

Honeywell started the SmartHouse project. This project aimed to combine heating, cooling, security, and lighting into one system. In 1987, they released new security systems and fire detectors. In 1992, Honeywell combined its home, commercial, and protection services into one group. This group was called Home and Building Control. By 1995, Honeywell had three main divisions: Space and Aviation Control, Home and Building Control, and Industrial Control.

Industrial Control

Honeywell ended its partnership with Yamatake Company. In 1998, they combined their process control and micro switch divisions into one Industrial Control Group. They also bought Measurex System and Leeds & Northrup in 1997. This helped them strengthen their products.

Big Mergers (1999–2002)

AlliedSignal and Pittway

On June 7, 1999, Honeywell was bought by AlliedSignal. AlliedSignal decided to keep the Honeywell name because it was so well-known. The main offices moved to AlliedSignal's headquarters in Morristown, New Jersey. Even though it was technically an acquisition, it was seen as two equal companies joining. AlliedSignal was larger in revenue, but both companies had big interests in aerospace, chemicals, car parts, and building controls.

When Honeywell closed its old headquarters in Minneapolis, many employees lost their jobs. Some moved, but most had to find new work. After the merger, the company's stock price dropped for a while.

In 2000, the new Honeywell bought Pittway for $2.2 billion. This helped them get a bigger share of the fire-protection and security systems market. Pittway's products fit well with Honeywell's existing systems.

General Electric Company

In October 2000, Honeywell agreed to be bought by General Electric (GE). The U.S. government approved this merger. However, on July 3, 2001, the European Commission blocked the deal. They were worried that the new company would be too powerful. They thought it could control the market for jet engines and airplane electronics.

U.S. regulators disagreed with this decision. They believed the merger would actually help competition. This disagreement caused problems for Honeywell. The CEO at the time, Michael Bonsignore, was fired as the company tried to recover.

More Growth and Acquisitions (2002–2014)

A Honeywell glass cockpit, sold under the brand BendixKing

In January 2002, Knorr-Bremse took full ownership of its joint ventures with Honeywell. In February 2002, David M. Cote became Honeywell's new CEO and chairman. He helped bring together the different company cultures of Honeywell, AlliedSignal, and Pittway.

Since 2002, Honeywell has bought more than 80 companies and sold 60. This has added $12 billion in new sales and increased its workforce to 131,000 employees. Under Cote's leadership, Honeywell's stock price nearly tripled.

In 2004, Honeywell made a bid to buy Novar plc. This deal was completed in 2005. In October 2005, Honeywell bought Dow's share in Honeywell UOP. This gave them full control over this joint venture in oil and gas technology. In 2010, Honeywell bought Sperian Protection for $1.4 billion. This company was added to Honeywell's safety unit.

Recent Years (2015–Present)

In 2015, Honeywell moved its headquarters to Morris Plains, New Jersey. The new building was more modern and energy-efficient.

In December 2015, Honeywell bought Elster for $5.1 billion. This brought them into the business of gas, electricity, and water meters, especially smart meters. In 2016, Honeywell bought Xtralis, a company that makes smoke detection and security technologies. In May 2016, Honeywell settled a patent dispute with Nest Labs, a Google company, about thermostats.

In 2017, Honeywell opened a new software center in Atlanta, Georgia. David Cote stepped down as CEO in April 2017. Darius Adamczyk took over as CEO. In October 2017, Honeywell announced plans to spin off some of its businesses. These included its Homes, ADI Global Distribution, and Transportation Systems businesses. They became two separate, publicly traded companies by the end of 2018.

In 2018, Honeywell spun off Honeywell Turbo Technologies, now called Garrett Advancing Motion. They also spun off their consumer products business, Resideo. Both are now separate companies. In October 2019, Honeywell moved its main headquarters to Charlotte, North Carolina.

Honeywell Forge was launched as a software platform. It helps analyze data for industrial and commercial uses. Honeywell also created Honeywell Robotics in Pittsburgh. This group focuses on improving supply chains with robots.

In May 2019, GoDirect Trade launched. It's an online marketplace for extra aircraft parts. In March 2020, Honeywell announced its quantum computer. It uses trapped ions and was called the world's most powerful quantum computer at the time. In November 2021, Honeywell spun off its quantum division into a new company called "Quantinuum".

In March 2023, Vimal Kapur became the new CEO. In December 2023, Honeywell bought Carrier Global's security business for almost $5 billion. This helps boost its automation products. In February 2024, Honeywell filed a lawsuit against Lone Star Aerospace, Inc. They claimed that Lone Star's software products used Honeywell's patented ideas.

Honeywell and the COVID-19 Pandemic

During the COVID-19 pandemic, Honeywell helped by making supplies for healthcare workers. They changed some of their factories to produce N95 masks. They aimed to make 20 million masks a month. Honeywell also made hand sanitizer for government agencies.

Several state governments asked Honeywell to produce N95 masks. For example, Los Angeles Mayor Eric Garcetti announced a deal for Honeywell to make 24 million masks. In May 2020, U.S. President Donald Trump visited a Honeywell factory in Phoenix. He thanked the workers for making N95 masks. In April 2021, the artist Will.i.am worked with Honeywell to create Xupermask. This was a smart mask with LED lights, fans, and noise-canceling headphones.

Honeywell's Business Groups

Honeywell House (Innoteknia) in Kuopio Science Park in Kuopio, Finland

A Honeywell wireless home alarm system control panel

A Honeywell digital compass sensor mounted on a circuit board

Honeywell has four main business groups:

• Honeywell Aerospace Technologies
• Building Automation
• Safety and Productivity Solutions (SPS)
• Performance Materials and Technologies (PMT)

Honeywell Aerospace Technologies makes parts for airplanes. This includes engines, flight systems, and services for airlines and space programs. In 2014, they launched a SmartPath Precision Landing System for airports. In 2018, Honeywell announced plans to develop laser communication products for satellites.

Building Automation and Honeywell Safety and Productivity Solutions were created in 2016. Building Automation includes solutions for buildings, energy, and security. In 2017, Honeywell bought SCAME, an Italian company. This added new fire and gas safety products. Safety and Productivity Solutions includes scanning, mobile devices, and industrial safety products.

Honeywell Performance Materials and Technologies has six business units. These include Honeywell UOP, which works with oil and gas processing. They also make special chemicals, electronic materials, and renewable fuels.

Honeywell's Leaders

Honeywell's current CEO is Vimal Kapur. Here are some of the people on Honeywell's board of directors as of June 2023:

Companies Honeywell Has Bought Since 2002

Honeywell often buys other companies that fit with its existing technologies. These companies are usually added to one of Honeywell's four main business groups. They often keep their original brand name.

Honeywell's Environmental Efforts

Honeywell has worked to improve its environmental impact. The company has been linked to some Superfund sites, which are places with toxic waste. In 2007, Honeywell was listed among companies that released a lot of air pollution.

In 2001, Honeywell agreed to pay fines and make repairs for environmental violations. These included not fixing leaks of pollutants and not reporting certain emissions. In 2003, a judge ordered Honeywell to clean up chromium waste. This waste was a risk to public health and the environment. Honeywell also paid to avoid a trial about contamination in Lisle, Illinois.

In 2004, New York State required Honeywell to clean up mercury and other waste. This waste had been dumped into Onondaga Lake. By 2014, Honeywell had built three water treatment plants. They removed 7 tons of mercury from the lake. In 2015, Honeywell received an award for its cleanup efforts at the lake. By 2017, they finished cleaning the lake. They also agreed to pay for 20 restoration projects around the lake.

In 2005, New Jersey sued Honeywell and other companies. They wanted them to clean up over 100 sites with chromium contamination. In 2008, Arizona settled with Honeywell. Honeywell paid a fine and contributed to an air-quality project. This was after allegations of breaking environmental laws.

In 2006, Honeywell announced that it stopped making mercury switches. This decision reduced the use of mercury, lead, and chromic acid. The U.S. Environmental Protection Agency (EPA) recognized Honeywell for its leadership in reducing mercury use.

Harvey Cox holding a Honeywell fragmentation bomb, 1973

Carbon Footprint

Honeywell tracks its carbon emissions. In 2020, their total CO2e emissions were 2,248 kilotonnes. Honeywell aims to reach net zero emissions by 2035.

See also

In Spanish: Honeywell para niños

• List of Honeywell products and services
• Top 100 US Federal Contractors