Honeywell and Alliedsignal merger creates $25 billion global technology company.

August '99 News & Events

Honeywell and AlliedSignal have signed a definitive merger agreement that will create a global technology company with revenues of $25 billion (R150 billion) and technical and product leadership across a wide range of industries.

The merger combines two global players to create a US Fortune 50 company that brings together considerable management talent and diverse, successful and complementary businesses. With a combined market capitalisation in excess of $45 billion (R270 billion), the new company will have the financial strength, technology leadership and customer focus to accelerate future growth across all its enterprises. The combined company will be called Honeywell and will be headquartered in Morristown, New Jersey, the present home of AlliedSignal. Mike Bonsignore, current CEO of Honeywell, will become CEO of the new organisation.

Commenting on the implications for Honeywell Southern Africa, local MD Nick Buick said, "Although it is a little early to fully appreciate the local implications, several benefits are already obvious. The merger creates a leading global industrial force while the retention of the Honeywell name is testimony to our 114-year legacy and reinforces our brand name recognition both in South Africa and worldwide. In addition, the merger will have a positive impact on free cash flow which will be in excess of $2 billion (R12 billion) by 2002 and which will facilitate and accelerate further advances in technology across all our interests".

The combined company will have a work force of more than 120 000 employees worldwide.

"The merger is an exciting natural fit of two companies whose businesses and cultures are highly complementary," said Larry Bossidy, AlliedSignal Chairman and CEO. "We are both successful, growth-driven technology companies who are intensely focused on performance, delighting customers and making our workplaces world-class. The merger will ideally position the combined entity for enhanced revenue and income growth. AlliedSignal's Board and I have long admired the outstanding job that Mike Bonsignore and his team have done in transforming Honeywell into a knowledge-based, technology-driven provider of solutions and services. His proven management skills will lead the combined company into a new era of dynamic growth."

For details, contact Nick Buick, Managing Director of Honeywell Southern Africa on telephone (011) 805 1201 or fax (011) 315 2179.





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Highest increase in global cyberattacks in two years
Information Security News & Events
Check Point Global Research released new data on Q2 2024 cyber-attack trends, noting a 30% global increase in Q2 2024, with Africa experiencing the highest average weekly per organisation.

Read more...
The power of PKI and private sector innovation
Access Control & Identity Management News & Events Government and Parastatal (Industry)
At the recent ID4Africa 2025 Summit in Addis Ababa, the spotlight was firmly on building secure, inclusive, and scalable digital identity ecosystems for the African continent.

Read more...
Bosch Security renamed Keenfinity
News & Events
Globally renowned brands for video systems, access control and intrusion alarm systems, as well as communication systems, unite under the roof of the new company Keenfinity Group.

Read more...
2025 video surveillance market set for improved fortunes
News & Events Surveillance
Novaira Insights has unveiled its latest report, World Market for Video Surveillance Hardware and Software – 2025 Edition, forecasting a healthy growth rate of 8,1% until 2029, excluding China.

Read more...
Wialon announces integration with fleet maintenance and optimisation platform
News & Events Transport (Industry) Logistics (Industry)
Fleet management software platform integrates with a fleet maintenance and optimisation platform to support mutual customers for better workflows and deeper insights into fleet operations.

Read more...
DeepSneak deception
Information Security News & Events
Kaspersky Global Research & Analysis researchers have discovered a new malicious campaign which is distributing a Trojan through a fake DeepSeek-R1 Large Language Model (LLM) app for PCs.

Read more...
Almost 50% of companies choose to pay the ransom
News & Events Information Security
This year’s Sophos State of Ransomware 2025 report found that nearly 50% of companies paid the ransom to get their data back, the second-highest rate of ransom payment for ransom demands in six years.

Read more...
Value and industry insight
Securex South Africa Training & Education News & Events
Securex South Africa 2025, co-located with A-OSH EXPO, Facilities Management Expo, and Firexpo, drew thousands of security professionals from across the continent and beyond, offering a platform for networking, product discovery, and knowledge sharing.

Read more...
Gallagher Security achieves ISO 27001 recertification
News & Events Training & Education
Gallagher Security has successfully achieved certification to the updated ISO/IEC 27001:2022 standard for Information Security Management Systems (ISMS). This accomplishment builds on previous certifications and reflects a continued commitment to the highest standards of information security.

Read more...
Survey highlights cost of cyberdamage to industrial companies
Kaspersky Information Security News & Events
The majority of industrial organisations estimate their financial losses caused by cyberattacks to be over $1 million, while almost one in four report losses exceeding $5 million, and for some, it surpasses $10 million.

Read more...










While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd. | All Rights Reserved.