About METROLOGIC INSTRUMENTS, INC.

Thermostats and jet engines seem worlds apart, but they're the wind beneath Honeywell International's wings. More than a century old, the company is a diverse industrial conglomerate with four segments the largest are Automation and Control Solutions (ACS -- making HVAC and manufacturing process products) and Aerospace (turbo engines and flight safety and landing systems). Additional segments include Performance Materials and Technology (PMT, formerly Honeywell Specialty Materials, thermal switches, fibers, and chemicals) and Transportation Systems (engine boosting systems and brake materials).

Geographic Reach

Honeywell has approximately 1,300 manufacturing, research, and sales offices and facilities; more than 40% of its products are manufactured in Asia and Europe, and the US represents about 60% of sales. Other key international markets are Canada and Latin America.

Operations

Honeywell reorganized its segments during 2014 when it sold its Friction Materials business unit (part of its former Transportation Systems segment) to Federal-Mogul Corporation for $155 million. Transportation Systems was later folded into Aeropspace (39% of net sales). Other segments include Automation and Control Solutions (ACS; 36% of total sales) and Performance Materials and Technologies (PMT; 25%).

Sales and Marketing

Honeywell distributes its building control products through independent contractors and distributor channels throughout North America. Sales to the US government accounted for 9% of its total sales in 2014, while commercial aerospace OEMs generated 6%. Commercial aftermarket customers of aerospace products accounted for 11%.

Financial Performance

Honeywell has enjoyed four straight years of unprecedented growth. Its revenues rose by 3% from $39.1 billion in 2013 to $40.3 billion in 2014. Its net income climbed 8% from $3.9 billion in 2013 to $4.2 billion in 2014. Both these totals represented historic milestones for the company.

The historic revenue growth for 2014 was driven by increases in PMT (4%) and ACS (8%) due to acquisitions and organic growth. It also benefited from a 5% rise in non-US sales during 2014. The spike in net income was primarily the result of the milestone revenues for 2014.

Honeywell's operating cash flow has steadily grown over the last several years from $2.8 billion in 2011 to more than $5 billion in 2014. Cash flow increased by 16% in 2014 compared to 2013, primarily due to change in inventories, other current assets, and accrued liabilities.

Strategy

For all its segments Honeywell is focusing on several issues and initiatives, including expanding in such emerging area as China, India, Eastern Europe, Latin America, and the Middle East; managing raw material costs through hedging; staying alert for liquidity issues among suppliers and customers; and controlling costs related to asbestos and environmental matters.Over the last few years it has launched new facilities in China, Malaysia, and India.

Honeywell's strategy for this growth also includes both acquisitions and the divestiture of under-performing units. In 2014 Honeywell sold its Friction Materials business unit (part of its former Transportation Systems segment) to Federal-Mogul Corporation for $155 million.

Spurred by an aggressive acquisition strategy (possibly spending $10 billion or more through 2018), the company hopes to increase its revenues to $59 billion by 2018.

Mergers and Acquisitions

In 2015 Honeywell completed its $185 million acquisition of Datamax-O'Neil, a global manufacturer of fixed and mobile printers used in a variety of retail, warehouse, and distribution, and health care applications. The addition of Datamax-O'Neil to its portfolio enhanced its position within the global barcode printing segment.

During 2013 Honeywell spent about $1 billion on acquisitions. Halfway through the year, it acquired RAE Systems for $340 million. RAE Systems makes intelligent gas and radiation detection systems that allow for real-time safety and security threat detection. Months later, Honeywell purchased Intermec, a maker of bar code scanners, RFID readers, mobile and fixed vehicle computers, printers, and label media, for $600 million. Both companies were integrated into Honeywell Analytics, a part of Honeywell Life Safety in Honeywell Automation and Control Solutions.

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METROLOGIC INSTRUMENTS, INC.

90 Coles Rd
Mount Laurel, NJ 08054
Phone: 1 (856) 228-8100
www.careersathoneywell.com

Stats

  • Employer Type: Public
  • Chairman Director; Chairman, Director: Stanton Meltzer
  • President: Michael Rowley
  • Vice President Intertiol Sales Channel: Kevin Woznick

Major Office Locations

  • Mount Laurel, NJ

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