Honeywell Comments On Third Point's Investment Thesis

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Apr 27, 2017, 17:48 ET

MORRIS PLAINS, N.J., April 27, 2017 /PRNewswire/ -- Honeywell (NYSE: HON) today issued the following statement in response to Third Point's investment thesis.

Honeywell strives to keep an open dialogue with all of its shareowners. We are focused on enhancing shareowner value and will continue to evaluate all ideas that have the potential to help us achieve this goal.

Under the leadership of our new CEO, Darius Adamczyk, we continue to build on the strong foundation that has enabled Honeywell to drive sustainable growth and long-term success. We are well-positioned to generate both near-term and long-term value for shareowners driven by an acceleration in organic growth, continued margin expansion through our world-class operating system, transition to a software-industrial enterprise, and more aggressive capital deployment. We believe that each of our businesses benefits from the ability to leverage our unified, world-class operating system, technology resources, and corporate infrastructure across the entire enterprise.

Honeywell's management and Board regularly conduct portfolio assessments and have a demonstrated track record of effective portfolio realignment and capital deployment actions. Regarding the Third Point investment thesis, we intend to take the time necessary to ensure a comprehensive, informed and objective review of the potential separation of the Aerospace business.

Honeywell will continue executing its 2017 plan, delivering on our financial commitments as we have done for over a decade and as we did in the first quarter, and remain focused on effectively deploying capital to generate consistently outstanding returns. We have a strong portfolio of businesses with great positions in growing industries. Aerospace is no exception. Our substantial investments and outstanding OEM platform wins will contribute to top-line growth and margin expansion for years to come. Honeywell is performing well and remains committed to the long-term financial goals outlined at our March investor day.

Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.