On July 8, Honeywell announced the launch of a strategic alternative assessment for its two major business segments, Productivity Solutions and Services (PSS) and Warehousing and Workflow Solutions (WWS). This move is a key part of its overall business assessment that began in early 2024, aimed at simplifying the structure, paving the way for the three-part split plan in 2026, and promoting the company's transformation into a "pure automation enterprise."

PSS and WBS mainly serve the transportation, warehousing and logistics markets. In 2024, each of them will have revenues of more than $1 billion. Their products include mobile terminals, barcode scanning, printing solutions, automatic sorting systems, conveying equipment and robotic automation. Honeywell said it is evaluating various possibilities, including sales, splits or divestitures, but there is no guarantee that a deal will be reached in the end.

Chairman and CEO Vimal Kapur emphasized: "This is a key step towards becoming a pure automation company. The streamlined business portfolio will focus on the three core areas of automation: buildings, processes and industries, in order to gain long-term growth advantages." He affirmed the leading position and growth potential of the two businesses.

Honeywell also appointed industry veteran Jim Masso as president and CEO of the process automation business, effective July 14. Centerview Partners will serve as a financial advisor. The assessment is part of Honeywell's ongoing business streamlining strategy since June 2023, and it just sold its personal protective equipment business in May this year.