Maker of aerospace technology and heating/cooling systems for buildings.

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101 Columbia Road
Morristown, NJ 07962
Employees: 127,000
CEO: David Cote
Stock Symbol: HON


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Honeywell International is a diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials.

Honeywell is a member of the Dow Jones Industrial Average. Honeywell has 127,000 employees and more than 22,000 are engineers and scientists.

In 2015, Honeywell reported revenues of $38.6 billion, down 4% from the previous year. Net income was $4.84 billion. The revenue breakdown by segment includes: Aerospace - $15.23 billion; Automation and Controls - $14.1 billion; Performance Materials and Technologies - $9.23 billion.

Honeywell said in March it is ending its bid to merge with United Technologies because of its unwillingness to engage in negotiations.


Honeywell can trace its roots back to 1885, when an inventor named Albert Butz patented the furnace regulator and alarm. He formed the Butz Thermo-Electric Regulator Co., Minneapolis, on April 23, 1886, and a few weeks later invented a simple, yet ingenious device that he called the "damper flapper."

Here's how it worked. When a room cooled below a predetermined temperature, a thermostat closed the circuit and energized an armature. This pulled the stop from the motor gears, allowing a crank attached to the main motor shaft to turn one-half revolution. A chain connected to the crank opened the furnace's air damper to let in air. This made the fire burn hotter. When the temperature rose to the preset level, the thermostat signaled the motor to turn another half revolution, closing the damper and damping the fire. The temperature correction was automatic. Over the years, many Honeywell products have been based upon similar, but more complicated closed-loop systems.

The Consolidated Temperature Controlling Co. incorporated, acquired Butz's patents and business, and by 1893, had renamed itself Electric Heat Regulator Co. The first company ads ran in 1895 featuring the now famous thermostat. In 1898, the company was purchased by W. R. Sweatt, who, by 1916, had changed the name of the company to Minneapolis Heat Regulator Company, expanded its product line and patented the first electric motor approved by Underwriters Laboratories.

Meanwhile, in Wabash, IN in 1904 a young engineer named Mark Honeywell, was perfecting the heat generator as part of his plumbing and heating business. Two years later, he formed the Honeywell Heating Specialty Co, incorporated, specializing in hot water heat generators.

By 1912, EHR had expanded its product line and changed its name to Minneapolis Heat Regulator Company (MHR). Four years later, MHR patented the first electric motor approved by Underwriters Laboratories.

The 1927 merger
In 1927, Minneapolis Heat Regulator Company and Honeywell Heating Specialty Co. merged to form the Minneapolis-Honeywell Regulator Co., and became the largest producer of high-quality jeweled clocks. W. R. Sweatt became chairman and Mark Honeywell, president. The company made several acquisitions in the controls area. One of those acquisitions was the Brown Instrument Co., a worldwide leader in the field of industrial controls and indicators, and inventor of the pyrometer. Until Edward Brown had invented the carbon-rod pyrometer in the mid-nineteenth century, there was no accurate way to measure the extremely high temperatures in foundries and kilns.

The company officially changed its name to Honeywell in 1963. The company merged with AlliedSignal in 2000.

General Electric attempted to buy Honeywell in 2001 but the deal was foiled by European regulators who were afraid of the market power that GE would yield with the acquisition.

In 2011, Honeywell sold its consumer products business which included Prestone antifreeze, Autolite spark plugs and FRAM filters to Rank Group Limited for $950 million.


Financial Well-Being
The Honeywell Savings Programs may be employees' most valuable asset in achieving financial goals. In fact, our overall 401(k) plan was ranked tops among the 100 largest employers in the United States by USA Today. These programs help employees save money on taxes and take advantage of a company matching contribution (in many locations) that multiplies savings.
Thirty-four factory floor workers in the U.S. and others who earn less than $80,000 a year have a million dollars or more in their savings plan. Another 250 are half-millionaires and 4,000 more are quarter-millionaires. Employees outside the US, where Savings Plans don't exist, can take advantage of a generous stock purchase plan to share in the company's success.
In addition, most locations around the world offer benefits like pension, life insurance, disability income protection and other insurance plans to help employees protect what they have, and prepare for the future.
Special Discounts
Another program, called Dollar Stretchers, leverages the company's buying power to help employees' paychecks go further. Dollar Stretchers are discounts on real estate commissions, mortgage fees, new and used cars, hotel stays, rental cars, books, and a host of other useful products and services. In addition, Honeywell products are incorporated in many consumer products (or sold directly to customers) and our employees receive discounts on these products, such as carpet and automobiles.
Health and Well-Being
The Honeywell Health Care Program offers choices in health care coverage, including medical, dental, and health care spending accounts for any out-of-pocket expenses. With a growing slate of coverage options, Honeywell continues to look for better ways to bring high-quality, affordable health care choices to its employees. We also promote employee wellness-knowing that prevention of health issues is better than the inconvenience and cost of illness ­by offering programs such as health screenings and educational sessions. And for those who, regrettably, have a serious illness in the family, we offer a special program whereby some of the best doctors at Harvard Medical School team-up to help you understand more about the situation you're in so that you're well-informed when you visit your physician.
Life Planning Tools and Resources
Life has its share of challenges-from daily work and family issues to major events like marriage, divorce, elder care and relocation. To help employees deal with these challenges, Honeywell offers many of its employees Life Planning Tools and Resources, including a "Life Events Line." The Life Events Line provides free information, referrals, professional advice and counseling-all through a single toll-free (in the U.S.) phone line.

Updated March 2, 2016