HON News & Events

Odysight.ai (ODYS) announced the receipt of a purchase order from Honeywell (HON) Aerospace APU Division for a proof-of-concept, PoC, collaboration to evaluate Odysight.ai's visual sensing platform across Honeywell Aerospace Auxiliary Power Units, APU, portfolio. The PoC will assess how Honeywell Aerospace APU systems, combined with Odysight.ai's sensors, edge AI, and predictive analytics, can improve visibility, reliability, and maintenance decision-making across APUs and other critical components. Initial work will focus on the APU air intake, a high-exposure area where debris, contamination, icing, and wear can materially affect performance and availability, with a potential path, subject to successful results, to expand across the broader APU assembly.

Honeywell announced that its Board of Directors has formally approved the planned spin-off of Honeywell Aerospace. This approval represents a significant milestone in the separation process, which remains on track for completion on June 29. Following the completion of the spin-off, the remaining pure-play automation company will be known as Honeywell Technologies.

Honeywell Chairman and CEO Vimal Kapur and members of the leadership team will introduce Honeywell Technologies, provide a new growth and margin expansion framework following the planned separation of Honeywell Aerospace, demonstrate core capabilities and offerings in each strategic business segment, and introduce three-year financial targets that will lay the foundation for the company's future growth. "We are at a historic moment in Honeywell's transformation as we take the final steps to become a leading, pure-play automation company with innovative offerings that operate in industries where resiliency and reliability are paramount. We have a revamped innovation machine and simplified business model approach, underpinned by our ongoing commitment to operational excellence and strategic capital deployment. Following a three-year process to simplify our portfolio, we have the foundation in place to accelerate profitable growth by leveraging our vast installed base and deep domain expertise in mission-critical environments. We expect our enhanced strategic focus will deliver 4% - 6% organic growth, more than 60 basis points of margin expansion annually, and over 10% earnings growth annually at over 90% free cash flow conversion over the next three years," said Vimal Kapur, Chairman and CEO of Honeywell.