Honeywell International has established itself as a leading diversified industrial company. Honeywell products are mission-critical in nature and also highly technical. These factors add revenue visibility and create opportunities for aftermarket sales. The company is now adapting to the changing scenario post the pandemic by launching a new set of solutions.
The Healthy Buildings solutions, released on 20th May 2020, are targeted towards building owners and focus on the safety, security, and air quality of a building. They help building owners and facilities management teams create a clean and healthy environment for people to work in. Compliance with social distancing policies can be better implemented using Honeywell’s analytics-driven technology. Going beyond the popular Honeywell thermostat, the industrial major has once again innovated outcome-based solutions that keep up with anticipated changes in building standards and safety guidelines.
According to Vimal Kapur, President and CEO of Honeywell Building Technologies, “Honeywell has developed outcome-based solutions that allow building owners to transparently address how they limit exposure to and the spread of viruses while supporting their business continuity needs in an uncertain environment. We’re giving them the data they need to confidently reassure their employees to accelerate their business operations.”
Honeywell is making serious efforts in developing solutions that focus on global economic recovery. The company recently signed an agreement with the UK government to produce 70 million SuperOne face masks. Production will be local and Honeywell will build a production line in Scotland to produce 4.5 million disposable face masks per month. The UK facility is the third face mask production line that the company has announced ever since the pandemic broke out.
Even though Honeywell derives a substantial amount of revenue from its aerospace division, its diversified business means that other segments help offset the downturn in the aviation sector. The Honeywell International stock price history has been quite interesting. The stock had gone up 4.5X from Jan 2010 to Jan 2020. However, it fell 42% during the pandemic-led crash. However, it has recovered 40% from its March 2020 lows and closed at $146.18 on 1st June 2020.