Honeywell to Spin Off Business Groups by End of 2018
ADI global distribution's Homes portfolio and transportation systems business will split into two publicly traded firms
MORRIS PLAINS, N.J. — Honeywell Intl. Inc. announced it will 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.
Darius Adamczyk, president and CEO of Honeywell, said in a statement that the initiative comes after the company reviewed its market dynamics, growth outlook, and financial performance.