Honeywell: aerospace spin-off under study

(CercleFinance.com) - Honeywell announced on Monday its intention to pursue the strategic review initiated at the beginning of the year, indicating that it is studying the possibility of spinning off its aerospace activities.


In a brief press release, the industrial conglomerate indicates that it has already made some progress in this direction, and plans to keep the market informed of this progress when it publishes its fourth-quarter results, scheduled for the end of January.

Last January, the Charlotte, North Carolina-based group announced its intention to refocus on three core businesses: industrial automation, aviation and energy transition.

This reorientation recently led to some $9 billion worth of acquisitions, starting with the purchase of Air Products' liquefied natural gas (LNG) business.

At the same time, the company has begun spinning off its advanced materials business and has reached an agreement to divest its personal protective equipment activities.

Following these announcements, Honeywell shares were expected to rise by almost 3% on Monday on the New York Stock Exchange.

Copyright (c) 2024 CercleFinance.com. All rights reserved.