Tag: Honeywell
Products and Solutions team drives success for Resideo
February 26, 2025Ken Showers, Managing Editor
SCOTTSDALE, Ariz. — Resideo Technologies exceeded key metrics in the fourth quarter and is in a strong position going into 2025, company officials said during a recent webcast presentation.
CEO Jay Geldmacher attributed the company’s success to the ADI and Products and Solutions teams and their operational execution generating organic net revenue growth and leading to continued gross margin expansion, healthy adjusted EBITDA growth and record operating cash generation.
“Let...
Honeywell details company restructuring
February 12, 2025Cory Harris, Editor
CHARLOTTE, N.C.—Honeywell’s Q4 and full-year 2024 results met or exceeded updated guidance, but during a recent conference call, that performance took a back seat to the announcement of a companywide restructuring.
During the call on Feb. 6, the company announced it intends to separate its Automation and Aerospace Technologies business units as part of a comprehensive portfolio evaluation that was launched a year ago by Chairman and CEO Vimal Kapur and was recently completed....
Honey, I shrunk the company
February 12, 2025Ken Showers, Managing Editor
This week in industry news, Honeywell honeycombs into three distinct hives full of busy bees, but the buzz around the move indicates a bumble.
Last week Honeywell made good on months of speculation that the company would bow to pressures from an activist investor and spun out into three separate divisions. Those divisions are its aerospace, advanced materials, and home automation divisions.
So, while this split rolls back the meter a bit on Honeywell’s conglomeration, it is also theoretically...
Honeywell announces creation of three separate companies
February 6, 2025SSN Staff
CHARLOTTE, N.C.—Honeywell has announced the completion of a comprehensive business portfolio evaluation launched a year ago by Chairman and CEO Vimal Kapur and intends to pursue a full separation of Automation and Aerospace Technologies.
The planned separation, coupled with the previously announced plan to spin Advanced Materials, will result in three publicly listed companies with distinct strategies and growth drivers. The separation is intended to be completed in the second...
Carrier tightens portfolio amid turbulence
December 17, 2024Ken Showers, Managing Editor
PALM BEACH GARDENS, Fla.— Carrier Global’s recent sale of its commercial and residential fire business is a move calculated to simplify the company’s portfolio and refocus its efforts at a time of international turbulence.
Other companies inside and outside of the security industry have been similarly streamlining their portfolios. ADT sold its commercial business in 2023 and closed its solar division the following year to focus on its residential security business.
Similarly,...
Security Systems News welcomes 'Emerging Leaders under 40' Class of 2025
December 16, 2024Cory Harris, Editor
YARMOUTH, Maine—Security Systems News is excited to announce our “Emerging Leaders under 40” Class of 2025, highlighting those security professionals who have already made an indelible mark on the companies they work for.
Previously known as the “40 under 40” awards, this rebranded annual awards program features leaders who have proven themselves to be self-motivated, team-oriented creative thinkers who have shown leadership competencies by engaging in the vision...
Per Mar receives 2024 Premier Security Dealer of the Year Award from Resideo
November 25, 2024SSN Staff
DAVENPORT, Iowa – Per Mar Security Services, a provider of comprehensive security solutions for commercial and residential customers, has been honored with the 2024 Premier Security Dealer of the Year award by Resideo at its 35th Annual CONNECT customer event.
The award honors the company's dedication to growth, demonstrates true team performance, and delivers exceptional security solutions.
Brian Duffy, CEO of Per Mar, expressed his gratitude for the recognition: “It is an...
Elliott Investment Management calls for breakup at Honeywell
November 12, 2024SSN Staff
WEST PALM BEACH, Fla. — Activist investor group Elliott Investment Management has built a $5 billion dollar investment in Honeywell International inc. and is calling for the company to simplify its conglomerate structure.
In a letter addressed to the Honeywell board of directors, Elliott outlined that while the company has been an “…iconic pillar of the American industrial complex,” it has recently shown signs of inconsistent financial performance and uneven...
Honeywell to spin off advanced materials business
October 8, 2024Ken Showers, Managing Editor
CHARLOTTE, N.C. — Honeywell has announced a plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company, targeted to be completed by the end of 2025 or early 2026.
Vimal Kapur, chairman and CEO of Honeywell, said during a recent webcast with investors that it has been nearly a year since the company announced a reorganization to focus on the three megatrends of automation, aviation and energy transition.
“As we continue to...
Iris ID names Ricky Garcia as business development director, Latin America
October 1, 2024SSN Staff
CRANBURY, N.J.—Iris ID, a global provider of iris recognition technology, has announced the appointment of Jose R. (Ricky) Garcia as business development director, Latin America (LATAM).
Garcia has more than 20 years of experience driving increased revenue and cost efficiencies for global high-end technology companies in LATAM. His diversified sales experience including with startups will propel Iris ID multimodal biometric technology as a solution for national ID projects, access...