Honeywell spins off units value $7.5 billion in sales, keeps aerospace


(Reuters) – U.S. manufacturer Honeywell International Inc will spin off a home and ADI tellurian placement business and travel systems into dual independent, publicly-traded companies by a finish of 2018, a association pronounced on Tuesday.

Honeywell pronounced a dual businesses were together value $7.5 billion in annualized sales. The changes challenge calls by one of a shareholders, romantic sidestep account Third Point LLC, to spin off a aerospace division.

(This story corrects title and second divide to uncover value referred to annualized sales.)

Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru


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