Honeywell
From open-encyclopedia.com - the free encyclopedia.
Honeywell is a major American multinational corporation that produces electronic control systems and automation equipment. It is a major supplier of engineering services and avionics for NASA Boeing and the United States Department of Defense.
The company is headquartered in Morristown, New Jersey. Its current chief executive officer is David M. Cote.
Honeywell is traded under the ticker symbol HON on the NYSE with a market capitalization of $30,810.91MIL (July 19, 2004)
Honeywell Inc. merged with AlliedSignal in 1999, with the new company retaining the Honeywell name.
Honeywell attempted to merge with General Electric in 2001, at which time Honeywell was valued at over $40Bn. The merger was cleared by American authorities but was blocked by the European Commission's Competition Commissioner, Mario Monti. This decision was taken on the grounds that with GE's dominance of the jet engine market and Honeywell's portfolio of regional jet engines and avionics the new company would be able to "bundle" products and stifle competition, in much the same way that Microsoft has been accused of decimating its rivals, with the "bundled" Windows Media Player or Internet Explorer for example.
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