Honeywell has unveiled a corporate makeover that ties its growth more strongly to aerospace technology. Photo: ReutersNew York/Bangalore: Honeywell International Inc. unveiled a corporate makeover on Tuesday that ties its growth more strongly to aerospace technology—the opposite of what activist investor Third Point Capital has urged since April. The results of the manufacturer’s portfolio review announced before US markets opened said it would spin off its home and ADI global distribution business and transportation systems into two independent, publicly-traded companies by the end of 2018. The company said the two businesses together generated annualized revenue of $7.5 billion. By retaining its aerospace businesses, Honeywell defies Third Point’s calls to spin off a division which accounted for about 36% of total revenue in 2016.

Source: Mint October 10, 2017 11:48 UTC