Strategic options considered for $2B revenue businesses
Honeywell announced Tuesday it is exploring strategic alternatives for two of its logistics-related businesses as it prepares for a planned three-way corporate split. The move reflects the company’s effort to streamline its operations and focus more clearly on its future business structure.
The review will focus on the company’s ‘Productivity Solutions and Services’ and ‘Warehouse and Workflow Solutions’ divisions. These units provide a wide range of products including barcode scanners, warehouse automation tools, and printing systems. Each business generated over $1 billion in revenue during 2024, according to Honeywell.
Streamlining ahead of 2025 split
The industrial giant is working toward separating into three independent segments: aerospace, industrial automation, and advanced materials. The process is expected to be completed by next year. Tuesday’s announcement marks another step toward simplifying the company’s portfolio to align with this future structure.
“This review is part of our broader transformation strategy,” the company said in a statement. Honeywell has not disclosed whether the businesses under review could be sold, spun off, or restructured internally.
Board reshuffle and leadership changes
Honeywell has been under pressure from activist investor Elliott Investment Management, which recently secured a board seat for Marc Steinberg in May. The investment firm is known for pushing large corporations to unlock shareholder value through divestitures and spin-offs.
In a related leadership update, the company named Jim Masso as president and CEO of Honeywell Process Automation. His appointment will take effect on July 14, signaling the company’s push to reinforce leadership in key business areas as it prepares for the upcoming corporate overhaul.
Honeywell, based in Charlotte, North Carolina, continues to reshape itself as a more agile and focused conglomerate amid investor demands for efficiency and clearer business alignment.
