By Robb M. Stewart
Honeywell has completed the spin-off of its aerospace business, the culmination of a multiyear effort to unwind the once sprawling conglomerate.
Honeywell Aerospace begins trading on the Nasdaq market Monday alongside the new slimmed down Honeywell Technologies.
With the split from the aerospace operations, Honeywell has transformed into three independent companies following the separation in October of its advanced materials unit, Solstice Advanced Materials.
"This milestone is the culmination of years of disciplined execution and marks the conclusion of the portfolio transformation we began in 2023," Chairman and Chief Executive Vimal Kapur said.
Kapur said Honeywell Technologies is now positioned from automation to autonomy in the building, process and industrial sectors.
The spin-off of Honeywell Aerospace was completed with the distribution of outstanding shares of the business to Honeywell shareholders, on the basis of one Honeywell Aerospace shares for each two shares of the former parent company.
Write to Robb M. Stewart at robb.stewart@wsj.com