Honeywell, one of the few remaining US industrial conglomerates, to split into 3 companies

Honeywell, one of the last remaining U.S. industrial conglomerates, will split into three independent companies, following the path of manufacturing giants like General Electric and Alcoa. The North Carolina-based company announced on Thursday that it will spin off its automation and aerospace technologies businesses. This will result in three publicly listed companies, including a previously announced plan to spin off its advanced materials business. Honeywell Chairman and CEO Vimal Kapur stated that the formation of these three independent, industry-leading companies will position each to pursue tailored growth strategies and unlock significant value for shareholders and customers. The separation is expected to be completed in the second half of 2026. Shares fell more than 4% before the market opened on Thursday.— news from WLOS