Honeywell announced Wednesday that its Homes product portfolio and ADI global distribution business will be named “Resideo” when it completes its previously announced spinoff later this year.
The Morris Plains-based conglomerate announced late last year that it would spin off both Transportation Systems — which will take the name “Garrett” — and its Homes and ADI global businesses.
“The home is the biggest investment most of us will ever make — the place where we create a lifetime of memories,” said Mike Nefkens, CEO and president, Honeywell Homes, the business that will become Resideo. “Because the home is a centerpiece of our lives, we expect it to be secure, comfortable and safe at all times. Resideo builds on Honeywell’s strength in providing the world’s best solutions to help people to live more productive, comfortable and safer lives. And because smart home choices can be truly overwhelming, our mission is to provide consumers with integrated, simple solutions for today’s connected home.”
“Through its iconic brand and unparalleled presence in the home and low-voltage product distribution markets, Resideo will have an enviable position from its first day,” said Roger Fradin, chairman of the board, Resideo. “Resideo has several distinct advantages: a pipeline of innovative products and services, a sharp focus on its customers and global scale with a world-class brand. Given its ability to serve a wide range of customers around the world, Resideo is poised to be the preferred choice for consumers and channel partners, and a very compelling investment for shareowners.”
