Honeywell Seeks Faster Growth with Automation Focus

Honeywell Technologies (HON) is shifting its focus towards growth after completing the spin-off of its aerospace and advanced materials units. The company's new business model centers on automation, with a goal of achieving 4% to 6% organic growth.

CEO Vimal Kapur stated that Honeywell has reinvented itself since the spin-off, separating three businesses and acquiring six others as part of its portfolio overhaul. The company now focuses on three end markets: building automation, process automation, and industrial automation.

Honeywell is no longer relying mainly on margin expansion but instead trying to accelerate organic growth by moving into faster-growing verticals and selling more software, services, and new products into its installed base.