Honeywell Announces Move Of Global Headquarters To Charlotte

MORRIS PLAINS, N.J., Nov. 30, 2018 /PRNewswire/ -- Honeywell (NYSE: HON) today announced it will relocate its global corporate headquarters to Charlotte, North Carolina, a business- and family-friendly city close to several of Honeywell's businesses in the Southeast United States. Honeywell also announced it will relocate the headquarters of its Safety and Productivity Solutions (SPS) business group from Fort Mill, South Carolina, to Charlotte. The final decision is subject to the recently passed North Carolina Job Development Investment Grant (JDIG) legislation becoming law and the final award of state and local incentives, which the company expects to be completed early next week.

As part of the move, about 150 to 200 New Jersey-based senior management positions and about 100 South Carolina-based positions will relocate to Charlotte between now and September 2019. The company envisions gradually adding about 500 Honeywell corporate and SPS positions to the Charlotte location over the next five years, bringing total employment there to about 750 by the end of 2024. Any corporate roles that will be added in Charlotte will come from multiple locations, not just New Jersey.

"Today's announcement reflects our commitment to locate our corporate headquarters close to our large centers in Charlotte alongside Safety and Productivity Solutions, and Atlanta, where our Honeywell Building Technologies and Honeywell Connected Enterprise businesses are located. Charlotte is a top-10 destination city in the U.S. that will readily enable us to recruit and retain the world-class talent we will need over the long term to support Honeywell's strategic focus on leading technology and software solutions within our end markets," said Darius Adamczyk, Honeywell chairman and chief executive officer. "We also are strong believers in supporting our communities, and we look forward to bringing Honeywell Hometown Solutions &endash; our award-winning corporate citizenship initiative &endash; to the Charlotte area.

"Our decision does not reflect any issues with the quality of our experience in New Jersey," Adamczyk added. "We value the strong relationship that we have built with the state of New Jersey and with Governor Murphy. New Jersey will remain a substantial employment center for us."

Approximately 1,000 Honeywell employees will remain in New Jersey across the company's six locations in the state, including about 800 employees at Honeywell's offices in Morris Plains. Fort Mill will also continue to be a significant employment center for Honeywell.

Honeywell (www.honeywell.com/us/en) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/us/en/news.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.