WSJ ******* / ******* *******
*** *** *********** **** ********* ****. ** **********, **** cite $*.* ******* ******* for **** ******* ** Honeywell *** * ********* sales ***** ** $* to $* *******.
*** ********* ******** *** unclear ** *** *** report:
- **** **** ** *********'* building ********** *** ***** sold ** ********* ****** its ******** ********* **** 2 ******* ********: ******, Safety *** ******** **** Building ********* & ************. The *** ***** *** latter (***) *** **** of ******** ***** ** the ****** *******. ** such, ** ** ******* if *** ** *** security ********* ***** ** sold ******** ** ** some ***** ****** ****** Honeywell.
- *** ***** ********* ***** be ***** *** ******** to *** ******* ********* (at **** **** *** times ****** *****) *****, if *******, ******* **** the ********** ***** **** off ***** ****** ** low ****** *** *** profits.
Financial ********
******** ******** *** ******** are * ******** ***** ****** the ******* ********* ********, representing **% ** **** of ~$** ******* ****** sales. *** ******* ******** is Aerospace ($**.**), *** ******* $10 ******* *** *** the *********** ********* *** Technologies *******. ******** ***** in *** ***** ******* of ********** / *******.
*** ***** ***** ****** this ****:
Security ******* ****** *** *** ***
*********'* *** ******** **** deal ** ******** ***:
- ****** ****** *** ********, which ** **** **** industry ****** **** ********* *** current **** ** ********, mostly **** ** ***, and ********* **** ** of *** ********* **** silk-screened **** *** ********.
- ******** ********* *** ************ which ******** ********* *** installer / ********** ******** as********* ******** *********. **** **** ** **** context "************" **** *** commonly ***** ** ***-***** parts *******, *** ** the **********, ******** *** air-handling ******* **** ********** utilities ********** * ***** building.
The ******** ********* *** ************ ****
*** *** **** ** relatively ******* ** $*.* billion *** ******** ** several ***** ********* ******** sub-units, *** *** *********** of * ***$*-** **** ***** ***** ******** that ********* **** *** see **** ******** ** particularly ********** ** ********** to ***** ******* ********. This ** *** **********, given *** ****/*** *** ADT/Protection1 *****. *** ******* customer **** **** ******* appears ** ** **** large-scale ******* ** *** government, ********* *** ******** infrastructure *******. *** **** video ** *********'* **** is ******** ** ****:
***** ***** ***** ** deals *** ***** **** large ******* ** ***** of ***** **** *****, they *** ********* **** time-consuming ** *** ***** cycle *** ******** ******* in ****** ** *** that **** *****-***** ********* are ***** ********, *** those **** ******* ***** do *** ******** ******** their ********* ******* **** great *********.
Energy ****** *** ********
********* ******* *** ****** ******** business ** $* ******* ****** [link ** ****** *********], making ** ********** *** *** majority ** **** ****** apparently ****** **** ***. While *** *** **** appears ** ** **** for *** **** * sale ** *******, ** the *** **** **** off ** *******, *** remainder ** *** ********** and ******* ********* ******** will *********** ****** ** Honeywell's ******** *** *********** least *********** *******. **'* unclear ***** *** ** the ******** **** ** the *** **** ** just ********* ********** ** get *** ** ** underperforming ******** *******, ** a **** ** ***** its ***** ** **** core ************ *******. ***** what *** ******** ** the *** ******** ******* to ** ********* ** (a ***********, *** ******** that ***'* ******* * lot ** ********* *&*), it ***** ** **** to ******** ******* **** unit ** *** ****** as ****, ********** ** they **** ** ***** money ** ******* ***** other *********.
********* *** **** ********** a ****** ** ******** that ***** **** ** the ****** ****** *** Security *******, *** ****'** lost **** **** **** the **** ******* ***** with ********* **** **** blazing *** ****** ***** Honeywell ********* ***** ** **** ** ** ******** ** ********** edge.
The ****** ** ********* ********
********* ** *** * brand ******* ********** **** security ** *** ******** of *** ****** *******. Their ******** *********** ******** appears ** ** * barely ********** ***** ** their ******* ********, *** their *********-******* ******** ******** are ****** * ********** ** other ********* *******. *** is ********* ******** ** go ****, *** ** would *** ** **** to ******** * ******* like ********* ****** * bid *** *** ** a ***** ** ************ a **** **** ** the **.
Comments (17)
Scott Gerrels
Aside from Siemens or Schneider, I can't think of the companies that would be interested in this.
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Undisclosed Manufacturer #1
OK, it's said Hikvision has got financial support from China Banks for 3B$ ? and Honeywell security is listed at 3~4B$ ?
Just a joke.
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Undisclosed #2
Are Honeywell products not sold through other channels besides ADI?
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Mark Jones
I would agree with the business perspective and behind this statement. I don't think Honeywell Corporate is worried about the cool factor. Business growth is absolutely on their minds and the minds of their shareholders. That does not mean that this is still not an interesting, rewarding or cool career choice, perhaps more or better suited for smaller companies, and small business in particular. I reference this article I read yesterday as just one reason I have stayed in this industry for 30 years while being offered other opportunities. Speaking only for myself, there is more to life than money.
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Undisclosed Manufacturer #3
I wonder if the UTC layoffs weren't due to the expected merger, or maybe they are going rep firm again? Maybe they can merge with an Edinburgh company and gain some Tyco/JCI type tax savings?
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Undisclosed Integrator #4
Does this mean EBI might be going down the toilet where it belongs?
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Chris Hammond
Obviously ADI and video are a big part of Honeywell but the interesting thing to me is the mid to large access control business. Honeywell has for years been just dangling out there with ProWatch and WinPak. However, in the last 12 months I have a substantial number of clients either investing into the product by expanding it as their primary solution, or, are investigating it as one of the top three platforms. UTC seems to have alienated a lot of large end users and companies are asking for products that are not so proprietary. I don't know if this noise is translating to sales but I think there is a strong opportunity for Honeywell to strike by strengthening the sales engine. Otherwise, they should spin it or sell it in order to get out of its own way. Anyone else sensing similar trend of Honeywell access coming back in style?
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Ryan Anderson
Honeywell just acquired RSI Video (Videofied) this morning.
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Undisclosed Manufacturer #5
My own opinion is a behemoth sized company that can't really compete with up and coming innovations because it can't move enough enough under it's own weight. So it is shedding a business to get what it can because margins thin out even further.
Don't misinterpret this as a strong criticism of Honeywell itself, but my own opinion of business physics from what I have seen when companies get to a certain size. We've done fairly well lately being the little company that could versus larger name competitors who just don't have that personnel level of interaction and service with their clients, or breadth of scope outside a basic cookie cutter solution.
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