Honeywell, a company founded in Minneapolis in the late 1800s, has announced plans to separate into three entities in order to focus on different business sectors. The company will split into separate entities for its automation, aerospace, and performance materials businesses. This move is believed to help each of the new companies to better focus on their respective markets and improve overall efficiency. The decision to separate comes after a series of strategic changes within Honeywell in recent years, including acquisitions and divestitures. While the separation is expected to be completed by the end of 2023, the company assures that there will be no disruptions to customers during this transitional period. Honeywell is a global leader in the technology industry, and this move is seen as a strategic decision to better position the company for future growth and success in the competitive marketplace.
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