() is a major
American Multinational Corporation that produces electronic control systems and automation equipment. It is a major supplier of engineering services and
Avionics for
NASA ,
Boeing and the
United States Department Of Defense .
Honeywell is a Fortune 50 company with a workforce of over 100,000. The company is headquartered in
Morristown, New Jersey . Its current
Chief Executive Officer is
David M. Cote . Honeywell has many brands that consumers may recognize. Perhaps the most recognizable product is its line of home
Thermostats , particulary the iconic round type.
Honeywell Inc. was founded by and named after
Mark Honeywell , a pioneer in
Automation technology. The current "Honeywell International, Inc." is the product of a merger between
AlliedSignal and Honeywell Inc. in
1999 . Although AlliedSignal was the larger of the two, the combined company chose the name "Honeywell" for its superior brand recognition. However, it adopted AlliedSignal's corporate headquarters in
Morristown, New Jersey in preference to Honeywell's former headquarters in
Minneapolis, Minnesota .
Honeywell was one of the
Eight Major Computer Companies (with
IBM - the largest,
Burroughs ,
Scientific Data Systems ,
Control Data Corporation ,
General Electric ,
RCA and
UNIVAC ) through most of the
1960s . In
1970 , Honeywell bought General Electric's computer division; in
1991 Honeywell's computer division was sold to
Groupe Bull .
Current members of the ,
Jaime Chico Pardo ,
David Cote ,
Scott Davis ,
Clive Hollick ,
James Howard ,
Bruce Karatz ,
Russ Palmer ,
Ivan Seidenberg ,
Brad Sheares ,
Eric Shinseki ,
John R. Stafford , and
Michael W. Wright .
- Aerospace
- Automation and Control Solutions
- Specialty Materials
- Transportation Systems
Honeywell is traded under the ticker symbol on the
NYSE with a
Market Capitalization of
US$ 30 billion (2006). The company is part of the Dow Jones Industrial Average Index
General Electric attempted to acquire Honeywell in
2001 , at which time Honeywell was valued at over $40Bn. The merger was cleared by American authorities but was blocked by the
European Commission 's Competition Commissioner,
Mario Monti . This decision was taken on the grounds that with GE's dominance of the small jet engine market (CF34), leasing services (GECAS) and Honeywell's portfolio of regional jet engines and avionics the new company would be able to "bundle" products and stifle competition, in much the same way that
Microsoft has been accused of decimating its rivals by bundling
Windows Media Player or
Internet Explorer .
As successor to the now-defunct Allied Chemicals, Honeywell International is being held responsible for the cleanup of
Onondaga Lake in
Syracuse, New York following Allied's mass depositing of mercury and salt over the years. The highest concentration of mercury is believed to be in the tributary of Onondaga Lake known as Nine Mile Creek, which was a major dumping ground for Allied Chemical.
