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Honeywell Plans to House a Divisional Headquarter in Atlanta
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Industrial goods manufacturer Honeywell International Inc. (HON - Free Report) is reportedly considering plans to build a software development center in Atlanta as well as relocate a key divisional headquarter to the city. The twin moves are expected to cost approximately $19 million and will involve about 800 employees.
Honeywell already has a rich presence in Georgia with about 1,000 employees spread across 11 locations in the state. According to the company officials, the state of Georgia and Atlanta city in particular has offered $2 million in grants and $10 million in tax credits to attract more investments.
Accordingly, Honeywell has decided to shift the headquarters of its Home and Building Technologies division to Atlanta. In addition, the company is likely to build a new software development center that will focus on technology for planes, cars, homes and other buildings. While the software development center plans to employ around 730 people within a few years, the Home and Building Technologies headquarters will likely have around 100 employees.
Based in Morris Township, NJ, Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services. The company is a global leader in refrigerants, aerosols, and foam-insulation blowing agents that are used to replace ozone-depleting Chlorofluorocarbon and Hydro Chlorofluorocarbons. These products also improve the energy efficiency of homes, appliances, and commercial refrigeration systems.
The company’s balanced mix of long and short-cycle businesses, along with a decent organic growth in new products and expansion in high-growth regions augur well on a long-term perspective. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. Population growth, urbanization and infrastructure development continue to create attractive opportunities across its entire portfolio. Additionally the company is building a robust pipeline of new products.
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Honeywell Plans to House a Divisional Headquarter in Atlanta
Industrial goods manufacturer Honeywell International Inc. (HON - Free Report) is reportedly considering plans to build a software development center in Atlanta as well as relocate a key divisional headquarter to the city. The twin moves are expected to cost approximately $19 million and will involve about 800 employees.
Honeywell already has a rich presence in Georgia with about 1,000 employees spread across 11 locations in the state. According to the company officials, the state of Georgia and Atlanta city in particular has offered $2 million in grants and $10 million in tax credits to attract more investments.
Accordingly, Honeywell has decided to shift the headquarters of its Home and Building Technologies division to Atlanta. In addition, the company is likely to build a new software development center that will focus on technology for planes, cars, homes and other buildings. While the software development center plans to employ around 730 people within a few years, the Home and Building Technologies headquarters will likely have around 100 employees.
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Based in Morris Township, NJ, Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services. The company is a global leader in refrigerants, aerosols, and foam-insulation blowing agents that are used to replace ozone-depleting Chlorofluorocarbon and Hydro Chlorofluorocarbons. These products also improve the energy efficiency of homes, appliances, and commercial refrigeration systems.
The company’s balanced mix of long and short-cycle businesses, along with a decent organic growth in new products and expansion in high-growth regions augur well on a long-term perspective. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. Population growth, urbanization and infrastructure development continue to create attractive opportunities across its entire portfolio. Additionally the company is building a robust pipeline of new products.
Honeywell currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include CLARCOR Inc. , General Electric Company (GE - Free Report) and Crane Co. (CR - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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