Honeywell Completes Sale Of Friction Materials Business To Federal-Mogul

Main Navigation

Advertisement
Social Connect
Resources
Our Brand Family
Counterman - Babcox Media
Counterman has been serving auto parts jobbers, retailers and distributors since 1983.
News

Honeywell Completes Sale Of Friction Materials Business To Federal-Mogul

The transaction does not include the Bendix name or line of products or business in the United States.

Counterman Staff
By Counterman Staff
Published:

MORRIS TOWNSHIP, N.J. – Honeywell has completed the sale of its Friction Materials (FM) business to Federal-Mogul in a cash transaction valued at approximately $155 million. The transaction does not include the Bendix name or line of products or business in the United States. In addition, joint ventures that operate in Australia, Thailand and Malaysia will be retained as will Honeywell’s ownership of the non-operating sites in Conde, France and Guangzhou, China.
 
The company announced that it also will realign its Transportation Systems business segment with its Aerospace business segment to better take advantage of the engineering and technology similarities and the shared business models between these two business segments. Under the realigned segment reporting structure, the company will have three business segments: Aerospace, Automation and Control Solutions and Performance Materials and Technologies.  
 
"The sale of the Friction Materials business is a significant step in our effort to fully align the Honeywell portfolio around ‘Great Positions in Good Industries,’" said Honeywell Chairman and CEO Dave Cote. "Honeywell is a global technology leader and our Turbo business is one of our innovation crown jewels. Born out of our Aerospace business, the automotive turbocharger is a miniature jet engine. To leverage shared strengths and synergies, we will merge Transportation Systems, which includes our Turbo Technologies business, with Aerospace. We expect the transition to be seamless with both businesses benefitting from expanded sharing of the technical expertise that enables them to offer differentiated products to customers in their respective markets."
 
This realignment has no impact on the company’s historical consolidated financial position, results of operations or cash flows. Effective with the reporting of third quarter 2014 results, the company will report its financial performance based on the inclusion of Transportation Systems in Aerospace. To provide historical information on a basis consistent with its new reporting structure, the company will make available during the third quarter of 2014 certain historical segment results recast to conform to the new reporting structure. The re-casted financial information will not represent a restatement of previously issued financial statements.
 
 

Related Articles

You May Also Like

Auto Industry

Customer Service: How It’s Done

Customer service should be your number one priority, and it all starts with the greeting.

Eric Garbe
By Eric Garbe
Eric Garbe is a graduate of Columbus State Community College with a degree in Automotive Maintenance Technology. He has extensive independent and dealership field experience as a technician and shop owner and is an ASE Certified Master Technician and former Adjunct Automotive Professor. He has been professionally writing automotive technical articles and documents for many years and in his free time enjoys restoring old cars and creating custom interiors and upholstery.
Published:

This is always an important topic to discuss, because I consider excellent customer service one of the most important tools you can have to earn trust, respect and repeat business from the customers that come through your door. Whether that customer is do-it-yourselfer from across town or the professional repair shop across the street, your business depends on a solid relationship.It’s a subject that I am passionate about, and it’s one that many people are losing touch with. Whether you are communicating to someone in person, on the phone or using some type of social media, good customer service and bad can both exist. You can’t afford the latter, so this is the first in a series of topics which can and should be shared from the front of the shop to the back. No matter which role you hold, you represent the shop and yourself. Customer service should be your number one priority.First on the list is the greeting. From the second a customer walks in the door, they need to know you appreciate them coming in and how important they are to your business. First impressions are everything and here’s the correct way to do it each and every time: look them directly in the eye, smile and say hello!Of course, you can say “Good morning” or “Welcome to Joe’s Autocare,” but it should be a formal greeting and the most important thing is that you have smiled, looked them in the eye and recognized that they have walked through the door.You should always retain a formal greeting until you are on a first-name basis with a customer. Only once you have established that level of relationship is it OK to use the less formal greeting of “Hi,” followed by the person’s name.This greeting does more than just indicate respect and appreciation for someone walking through the door. Most likely there are customers both new and old who are in earshot of your conversation. For newer customers, this continues to build rapport and reinforce their positive view of your shop; they see that you demonstrate respect and treat everyone in the same manner. For repeat customers, even ones that have been coming for years, the greeting is important because the way you treat them is the reason they continue to come.And when a long-time customer comes in and you greet them with “Hi [First Name],” this indicates your appreciation for them and that you’re glad to see them as a person, more than just a customer. New customers that witness this will see that your repeat customers are comfortable enough to be on a first-name basis, another indication of the trust they have in you.

Read Full Article

More News Posts
MEMA Launches At-Home REPAIR Campaign

The next step in the campaign to get the REPAIR Act passed is to get aftermarket suppliers involved.

By Emma Henderson
Shaw Assumes Leadership of MEMA Original Equipment Suppliers

Collin Shaw succeeds Julie Fream who served 10 years in the position.

By Emma Henderson
AACF Launches 65th Anniversary Fundraising Initiative

The campaign aims to raise $65,000 through 1,000 donations of $65 each.

By Counterman Staff
Schaeffler Publishes 2023 Sustainability Report 

Schaeffler was awarded an “A” score in the climate change category for 2023 by the global non-profit environmental organization CDP for corporate transparency and performance.

By Emma Henderson
Schaeffler Sustainability Report

Other Posts

Introducing ‘Sustainability by Schaeffler’ on Counterman.com

In the weeks and months ahead, stay tuned for more sustainability content from Schaeffler and Counterman.

By Josh Cable
Schaeffler Sustainability
Jacki Lutz Named Content Director at Auto Care Association

Lutz will be tasked with leading a cross-functional and multimedia content strategy, development and execution across all platforms.

By Josh Cable
Jacki Lutz Auto Care
Auto Care Association Certified as a Great Place to Work

“This prestigious award is a testament to the association’s commitment to creating an inclusive, supportive and dynamic work environment for its employees,” Auto Care said.

By Josh Cable
HD Repair Shops Report Increases in Counter Sales, Labor Rates

The data comes from a Fullbay report published in partnership with ATA’s Technology and Maintenance Council.

By Josh Cable
Heavy Duty Repair