The 2020 Mid-Year Economic Update_long

Honeywell Plans to Split its Automation & Control Solutions Business

Company sales up 2 percent year-over-year in 2Q.

Honeywell (NYSE: HON), Morris Plains, NJ, announced that it is realigning its automation and control solutions business segment into two new segments: home and building technologies and safety and productivity solutions.

For 2015, HBT and SPS would have had sales of $9.4 billion and $4.7 billion, respectively.

Honeywell also reported sales for the second quarter of $10 billion, up 2 percent year-over-year. Profit increased 7.4 percent to $1.3 billion.

Year-to-date sales were $19.5 billion, up 2.6 percent over the prior-year period. Profit increased 6.8 percent to $2.5 billion.

The company also announced the acquisition of Intelligrated earlier this month.

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