Honeywell (NYSE: HON), Morris Plains, NJ, has announced it plans to spin off its Homes product portfolio and ADI global distribution business, as well as its Transportation Systems business, into two stand-alone, publicly-traded companies. The planned separation transactions are expected to be completed by the end of 2018.
“Today’s announcement marks the culmination of a rigorous portfolio review involving a detailed assessment of every Honeywell business. As part of that review, we analyzed numerous criteria, including growth outlook, financial performance, market dynamics, potential for disruption, and, most importantly, assessment of fit as a Honeywell business,” said Honeywell president and CEO Darius Adamczyk. “The spun businesses will be better positioned to maximize shareowner value through focused strategic decision making and capital allocation tailored for their end markets.”