Honeywell is a major American multinational conglomerate company that produces a variety of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations.
Honeywell is a Fortune 500 company with a workforce of approximately 122,000, of which approximately 57,000 are employed in the United States. The company is headquartered in Morristown, New Jersey. Its current chief executive officer is David M. Cote. The company was part of the Dow Jones Industrial Average Index until it was replaced on February 9, 2008.
Honeywell has many brands that consumers may recognize. Some of the most recognizable products are its line of home thermostats (particularly the iconic round type), Garrett turbochargers, and automotive products sold under the names of Prestone, Fram, and Autolite.
W.R. Sweatt and his son Harold provided 75 years of uninterrupted leadership for the company. W.R. Sweatt survived rough spots and turned an innovative idea — thermostatic heating control — into a thriving business. Harold, who took over in 1934, led Honeywell through a period of growth and global expansion that set the stage for Honeywell to become a global technology leader.
For more than 30 years the company annually presented the "H.W. Sweatt Engineer-Scientist Award" to individuals in recognition of their outstanding technical ability and contribution to technical accomplishment of significance for the company and their profession. The award program was canceled after the AlliedSignal and Honeywell merger in 1999.
In 1943 he joined Honeywell, and became its president in 1961 and its chairman in 1965. On becoming Chairman of Honeywell, Binger revamped the company sales approach, placing emphasis on profits rather than on volume. He also stepped up the company's international expansion — it had six plants producing 12% of the companies revenue. He also officially changed the company's corporate name from Minneapolis-Honeywell Regulator Co. to Honeywell.
From the 1950s until the mid-1970s, Honeywell was the United States importer of Pentax cameras and photographic equipment. These products were labeled in the U.S. Honeywell Pentax.
Under Binger's stewardship from 1961 to 1978 he expanded the company into such fields as defense, aerospace, computers and cameras.
In 1970, Honeywell bought General Electric's computer division. The company was reorganized into two operating units one of which was Honeywell Information Systems, headed by President Clarence (Clancy) Spangle.
In 1991 Honeywell's computer division was sold to Groupe Bull.
Honeywell entered the defense industry in World War II, at first producing aerospace elements. During and after the Vietnam Era, Honeywell's defense division produced a number of products, including cluster bombs, missile guidance systems, napalm and land mines. The Honeywell project, founded in 1968, organized protests against the company to persuade it to abandon weapons production.
In 1990, Honeywell's defense division was spun off into Alliant Techsystems, whose headquarters are in Edina, a suburb of Minneapolis. 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. Today, Kaz Incorporated owns both Duracraft and Honeywell's home comfort lines.
The current "Honeywell International Inc." is the product of a merger between AlliedSignal and Honeywell Inc. in 1999. Although AlliedSignal was twice the size of Honeywell, the combined company chose the name "Honeywell" because of its superior brand recognition. However, the corporate headquarters were consolidated to AlliedSignal's headquarters in Morristown, New Jersey rather than Honeywell's former headquarters in Minneapolis, Minnesota. When Honeywell closed its corporate headquarters in Minneapolis, over one thousand employees lost their jobs. A few moved to Morristown or other company locations, but the majority were forced to find new jobs or retire. Soon after the merger, the company's stock fell significantly, and the stock value only regained the pre-merger level in 2007.
In 2002 Knorr-Bremse took over from Honeywell International Inc USA its share of joint ventures in Europe, Brazil and the USA. Bendix Commercial Vehicle Systems became a subsidiary of Knorr-Bremse AG. Although declining in influence, Honeywell maintains a presence in emerging industries, such as Northern Alberta's Oilsands. Honeywell's Plant integrator is currently deployed in some of the most important plant-sites in the Oilsands (i.e Syncrude, Suncor and others).
In 2003, a federal judge in Newark, New Jersey ordered the company to perform an estimated $400 million cleanup of chromium waste, citing “a substantial risk of imminent damage to public health and safety and imminent and severe damage to the environment. In the same year, Honeywell paid $3.6 million to avoid a federal trial regarding its responsibility for trichloroethylene contamination in Lisle, Illinois. In 2004, the State of New York announced that it would require Honeywell to complete an estimated $448 million cleanup of more than 74,000 kg (165,000 lbs) of mercury and other toxic waste dumped into Onondaga Lake in Syracuse, NY. In 2005, the state of New Jersey sued Honeywell, Occidental Petroleum, and PPG to compel cleanup of more than 100 sites contaminated with chromium, a metal linked to lung cancer, ulcers, and dermatitis. 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.
Honeywell Sensing and Control to Exhibit Portfolio of Safety and Pressure Sensors at Offshore Technology Conference.(Conference news)
Apr 25, 2012; Honeywell Sensing and Control to Exhibit Portfolio of Safety and Pressure Sensors at Offshore Technology Conference...