Honeywell teamed up with Rebuilding Together of Polk County in Florida and two local Boys and Girls Clubs on six community service projects across the county and in Orlando as part of the company’s annual sales meeting. More than 1,000 Honeywell executives and employees volunteered their time and completed more than 3,500 hours of community service.

Honeywell Hometown Solutions, Honeywell’s corporate citizenship initiative, donated more than $45,000 in materials.

Since 2003, more than 9,000 Honeywell employees have dedicated 71,000 volunteer hours to 306 projects in the United States, Canada, and Mexico, resulting in more than $8 million in market value repairs.

For more information read the Polk County Democrat article about the event or visit the Honeywell Hometown Solutions website.

The company reported full-year 2011 results including:
• 2011 sales of $36.5 billion, up approximately 13% over 2010
   – 8% organic sales growth, again reflecting strong end markets, successful new product launches, and continued expansion in high growth regions
• 2011 proforma earnings (excluding the impact of pension mark-to-market adjustments)  of $4.05 per share, up 35% over $3.00 in 2010; Reported EPS of $2.61 in 2011 versus $2.59 in the prior year
   – Pension mark-to-market adjustment of $1.44 per share calculated using 791.6 million weighted average shares outstanding assuming dilution
• 2011 cash flow from operations of $2.8 billion, includes $1.7 billion cash pension contribution in the year
   – 2011 free cash flow of approximately $3.7 billion, prior to $1.7 billion cash pension contribution

“Honeywell had a terrific 2011,” said Honeywell Chairman and CEO Dave Cote. “We executed across the portfolio with record organic sales growth and segment margins. Our 2011 performance reflects the operational and financial disciplines that underpin the transformation that has taken place at the company over the last 10 years. We deployed the Honeywell 5 Initiatives – Growth, Productivity, Cash, People, and our Enablers, and created a common One Honeywell culture committed to continuous improvement. As a result, we built a better set of businesses with Great Positions in Good Industries, a terrific performance track record, a great leadership team with a truly global focus, a very full pipeline of new products and technologies, and our key process initiatives that are gaining momentum. We’ve come a long way, and we feel even better about our future.”

“While we expect a more challenging macro environment ahead in 2012, primarily driven by softness in Europe impacting the short-cycle businesses, we’re confident that Honeywell is well positioned to continue to outperform,” continued Cote.  “Our long-cycle businesses are accelerating, with Commercial Aerospace OE, UOP, Building Solutions & Distribution, and Process Solutions all having substantial backlog, in total just under $16 billion. While we expect growth to moderate in the first half of 2012, we’re confident that we can drive strong sales conversion leading to higher segment margins over the course of the year.  The investments we’ve made, coupled with our execution track record and disciplined playbook, will be key to our continued outperformance in 2012 and beyond.”

For more information, read the press release or listen to a replay of the Investor Conference Call.

Honeywell acquired Fire Sentry Corporation, a privately-held manufacturer of innovative fire detection and control products for a broad range of industrial markets. The terms of the transaction were not disclosed.

Based in Yorba Linda, California, Fire Sentry’s product portfolio consists of fast-responding electro-optical flame detectors, portable test lamps, and dedicated control panels that are used by customers in industrial settings such as petrochemical, semiconductor, paint booth/finishing, automobile airbags, and munitions plants. Fire Sentry’s products are designed to ensure rapid, accurate, and reliable detection of both hydrocarbon and non-hydrocarbon fires within a single device.

The acquisition will help Honeywell significantly expand its gas and flame detection, and monitoring solutions and builds on the company’s acquisitions of System Sensor in 1984 and Zellweger Analytics in 2005 among other important acquisitions in the gas detection arena. The company will be integrated into Honeywell Life Safety and will extend significant synergies in distribution channels, vertical end-markets, and global end-users.

For more information, read the press release.

Pictured left to right: Shane Tedjarati, President, High Growth Regions, and  Stephen Shang, President, Honeywell China

Honeywell announced that Shane Tedjarati was named to the broader role of President, High Growth Regions, and Stephen Shang will take over as President, Honeywell China, effective immediately. Tedjarati will continue to report directly to Honeywell Chairman and CEO Dave Cote. Shang will report to Tedjarati.

“Globalization has been a key pillar of our Growth Initiative for the past decade,” said Dave Cote, Honeywell Chairman and CEO.  “Ten years ago, less than 40% of our sales were generated outside the U.S.  Today, our company is twice the size, and approximately 55% of our revenues are generated outside the U.S.  We began executing this strategy by focusing on the two most important emerging markets – China and India.  That strategy has proven to be a good one.  We have grown nearly ten-fold in revenues and now have nearly 25,000 employees in China and India, representing a significant share of our global growth story.” 

For biographical and additional information, read the press release.

Honeywell announced its 2012 financial outlook including:

 • Sales of $37.8-38.9 billion, up 4-7% over 2011 estimated sales
        – 4-6% organic growth expected
  • Earnings per share (EPS) of $4.25-4.50, an increase of 6-12% over prior year
        – Strong sales conversion drives 40-70 basis points margin expansion
        – Proforma EPS from continuing operations up 13-19%
        – Mark-to-market pension adjustments in both periods excluded
  • Free cash flow (cash flow from operations less capital expenditures) of approximately $3.5 billion
       – Free cash flow conversion of approximately 100%
       – 2012 free cash flow guidance excludes any cash pension contributions

The company also reaffirmed its 2011 full-year guidance, expecting:
  • Sales of approximately $36.5 billion, up 13% over 2010
       – Excludes the divested CPG business, treated as discontinued operations
  • Proforma earnings per share of approximately $4.03, up 34% over 2010
       – Mark-to-market pension adjustments in both periods excluded
  • Free cash flow guidance of approximately $3.5 billion, excluding cash pension contributions

“Honeywell’s 2011 performance significantly adds to our performance track record and highlights the strength of our portfolio, robust new product pipeline, and expansion in high-growth regions,” said Honeywell Chairman and Chief Executive Officer Dave Cote.  “Our long-cycle backlog continues at record levels, with sustained strong orders growth particularly at UOP, Process and Building Solutions, and Commercial Aerospace. Further, our short-cycle businesses, such as Turbo Technologies, Advanced Materials, and ACS products performed well throughout 2011.”

“We’re planning for a more challenging macro environment in 2012,” continued Cote.  “While key economic indicators show slower year-over-year growth in GDP and industrial production globally, we expect to grow faster than the end markets we serve, mainly driven by our robust long-cycle backlog of almost $16 billion, strong commercial aerospace aftermarket growth, and continued contributions from our short-cycle businesses. We feel confident that our portfolio mix and continued margin expansion will deliver strong earnings growth and free cash flow conversion in 2012.”

For more information, listen to a replay of the Investor Conference call.

Honeywell Hometown Solutions (HHS), the company’s corporate citizenship initiative, recently unveiled the Honeywell Initiative for Science & Engineering (HISE), a new global science education program aimed to inspire future scientists and engineers. 

The program which launched its first events at Beihang University (BUAA) in Beijing, China and CETYS Universidad in Mexicali, Mexico aims to bridge the gap between formal academic study and practical business applications by providing students with direct access to Honeywell technology leaders and Nobel Laureates in physics and chemistry.  The program also provides paid internship opportunities to outstanding students.

At the event at CETYS Universidad, more than 1,400 guests, including 800 students, heard from Dr. John Lewis Hall, the 2005 Nobel Prize winner in physics. And in Beijing, a renowned researcher in atomic and molecular physics and 1997 Nobel laureate, Professor Claude Cohen-Tannoudji, delivered a lecture on Laser Manipulation of Atoms that underlined the importance of fundamental scientific research.

Dr.  Hall and Professor Cohen-Tannoudji also spoke to students about the impact their careers in science, technology, engineering, and math can make on communities and global corporations.  Along with the university students, guests included teachers, government and business representatives, and Honeywell employees from the Mexicali and Beijing regions.

HISE is part of HHS which focuses on five issues of vital importance: Family Safety & Security; Housing & Shelter; Science & Math Education; Habitat & Conservation; and Humanitarian Relief. Together with leading public and non-profit institutions, Honeywell has developed powerful programs to address these needs in the communities it serves. 

For more information, visit the HHS website.

Honeywell Turbo Technologies is an active member of a coalition which recently published a white paper authored by former Transportation and Commerce Secretary Norman Mineta supporting technology neutral policies as policymakers begin to implement new CAFE (Corporate Average Fuel Economy) regulations announced by U.S. President Barack Obama.

The white paper details Secretary Mineta’s support for technology neutral policies which do not favor one technology over another through consumer incentives, federal subsidies, testing standards, or technology specific credits. Recent policies have favored electric vehicles but have failed to help gain wide-spread acceptance from consumers or enhance the likelihood of significant growth of electrics in the United States. The white paper cites data suggesting significant technology advancements in conventional gasoline and diesel engines provide the most economical and efficient path to achieve President Obama’s new CAFE standards.

“Now that the government has set aggressive performance targets, it is critical that the Administration and regulators allow markets the freedom to innovate and choose the best technology to reach those targets. In this era of severe budget restraints, lawmakers should address the inequities in consumer incentives by eliminating language that favors one technology over another,” Secretary Mineta said.

The white paper was published by the U.S. Coalition for Advanced Diesel Cars, a national coalition supported by Honeywell focused on promoting technology neutral policies and the energy efficiency and environmental benefits of advanced clean diesel technology.

For more information, read the full white paper.

Honeywell celebrated the grand opening of the University of British Columbia (UBC) Centre for Interactive Research on Sustainability (CIRS), a living laboratory for researchers to teach, test, and study the long-term impact of sustainable practices and technologies.

Featuring advanced building controls, sensing technology, and management software from Honeywell, CIRS will serve as a leading academic hub to test and advance sustainable technologies before broader implementation, and operate as a center for green building policymakers to establish future standards. CIRS is one of only a handful of buildings worldwide that will provide “net positive” benefits to the environment. It reduces UBC’s carbon emissions, powers itself and a neighboring building with renewable and waste energy, and provides water for inhabitants with rainwater treated onsite.

Honeywell installed heating and cooling, fire alarm, and security technology in the building, and is using its Enterprise Building Integrator (EBI) to tie these and more than 80 other third-party systems into a single interface that will help the university operate the centre more efficiently and cost effectively. UBC and Honeywell also worked to ensure CIRS is one of the most sustainable buildings in the world. The research facility was built to Leadership in Energy and Environmental Design (LEED) Platinum and Living Building Challenge certification standards, the industry’s most advanced green building benchmarks.

In addition, as a Strategic Alliance Partner, Honeywell has committed to supporting the facility and UBC’s research efforts over the next five years. This will include ongoing product development, as well as collaborating with the university to test new building technology.

For more information, read the press release or visit Honeywell’s Sustainable Opportunity website.

Honeywell has been listed as a 2011 North American Top Company for Leaders, based on a study conducted by Aon Hewitt, The RBL Group, and FORTUNE magazine.

The winners were named and ranked based on criteria including strength of leadership practices and culture, examples of leader development on a global scale, impact of leadership in communities in which they operate, business performance, and company reputation.

“Honeywell hires the best, offers challenging work and competitive benefits, rewards performance, and provides leadership development tools that drive our performance-based culture,” said Mark James, Honeywell’s Senior Vice President of Human Resources and Communications. “We have a very strong executive management team and terrific bench strength, enabling us to execute seamless succession when necessary. Honeywell has a long track record of strong financial performance, through both good and bad economic times, resulting from our leaders’ commitment to delivering on both growth and productivity.”

For more information, read the press release, view the FORTUNE list of regional rankings, or download a copy of the study.

Honeywell signed a definitive agreement to acquire King’s Safetywear Limited (KSW), a leading international provider of branded safety footwear based in Singapore, for approximately $338 million. The move builds on Honeywell’s Norcross and Sperian Acquisitions to create a leading $2 billion personal protection portfolio designed to protect workers from “head to toe” in a variety of hazardous environments.

“The addition of KSW further builds on our leadership position in the safety products segment worldwide by substantially enhancing our position within the safety footwear category,” said Mark Levy, president and CEO of Honeywell Life Safety. “KSW brands are highly valued, as is reflected by their strong sales growth and terrific profitability. Their presence in important vertical end-markets makes them a logical extension of our business, and should enable more opportunities for Honeywell in the higher growth Southeast Asia, Australia, and Europe regions. With their terrific leadership team and expansive distribution network globally, we also see strong cross-selling opportunities worldwide.”

For more information, read the press release.