Chairman and CEO Dave Cote appeared on CNBC’s “Mad Money” where he talked about Honeywell’s great positions in good industries and showcased Honeywell technologies in a lively hands-on demonstration with TV show host and respected money manager, Jim Cramer.
Cramer, who was backdropped by one of Honeywell’s huge HTF7000 jet engines, said, “Honeywell is … a business, and more important, a management team, that I think can weather the downturn much better than others. Plus, 50 percent of Honeywell’s portfolio of products relate to energy efficiency. So it’s a company that is in keeping with the priorities of the Obama administration.”
Key Honeywell technologies from all four of its businesses were featured on the show. Cramer asked, “For instance, what the heck am I wearing?”
Cote replied, “That’s a bullet proof vest, the type that are used in Iraq and Afghanistan today and they’re absolutely superb. Just to give you an example,” Cote said while picking up an armor plate made with Specialty Materials’ Spectra® Fiber, “this is where an AK-47 round entered and this is where it didn’t come out. That saved a soldier’s life.” Other technologies featured included turbochargers, the T-Hawk™ Micro Air Vehicle, Total Fire Group® safety gear, and Prestige™ and UtilityPRO™ thermostats.
“One of the things we’ve wanted to do is focus a lot on the customer, understand our customer, focus on technology where we can make a difference, and invent markets, don’t just take market share, invent markets,” said Cote. Later in the interview Cote said, “If we’re not in a particular place already, and it’s too difficult to invent, we’ve learned that acquisition is a great way for us to go in. You look at gas detection, things like barcode scanning, personal protection equipment – all done through acquisitions.”
