Honeywell spins off units worth $7.5 billion in sales, keeps aerospace
Honeywell spins off units worth $7.5 billion in sales, keeps aerospace
U.S. manufacturer Honeywell International Inc will 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 on Tuesday.
Honeywell said the two businesses were together worth $7.5 billion in annualized sales. The changes defy calls by one of its shareholders, activist hedge fund Third Point LLC, to spin off its aerospace division.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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