Honeywell International Inc.
Honeywell Divests Legacy Asbestos Liabilities
Summary
Honeywell International Inc. has permanently divested its legacy asbestos liabilities by selling Sterling Wander LLLP to Delticus, a corporate liability acquisition platform. The transaction includes $1.68 billion in cash and related insurance assets. This divestiture is expected to improve Honeywell's annual free cash flow by over $100 million in the coming years and results in a one-time after-tax loss of approximately $115 million, excluded from Adjusted Earnings Per Share.
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About Honeywell International Inc.
Honeywell International Inc. is a diversified technology and manufacturing corporation, operating globally across various sectors. Its primary function is to provide innovative solutions in aerospace products and services, building technologies, performance materials, and safety and productivity solutions. Honeywell is renowned for its cutting-edge advancements in thermal systems, automation control, and industrial cybersecurity, supplying essential components across residential, commercial, and industrial domains. In the aerospace sector, Honeywell is instrumental in developing technologies for aircraft engines, cockpit systems, and manufacturing efficiency for both commercial and military clients. In building technologies, it focuses on energy-efficient solutions and smart building systems that enhance safety and comfort. Its performance materials division delivers high-performance materials essential for advanced manufacturing, including specialty chemicals and plastics. The safety and productivity solutions expand into workflow efficiency, offering software and hardware that enhance operational processes in various industries. Positioned as a key player in industrial innovation, Honeywell International Inc. significantly impacts wide-ranging industries, enhancing economic growth and sustainability through its strategic technological advancements. The company's global reach underscores its influence and importance in modern manufacturing and technology ecosystems.
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