Original News Release Posted at MarketWatch

Honeywell International Inc. HON, -0.01% said Tuesday it plans to spin off its Homes product portfolio and its ADI global distribution business, as well as its Transportation Systems business, into two separate publicly-traded companies. The spinoffs are expected to be completed by the end of 2018. The new Homes and Global Distribution business is expected to have annualized revenue of $4.5 billion, with 13,000 employees, while the new Transportation Systems business is expected to have revenue of $3 billion with 6,500 employees. “The remaining Honeywell portfolio will consist of high-growth businesses in six…

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