Honeywell and Allied
Signal have signed a merger agreement that will make them a global technology company with
revenues of $25 billion. The merged entity will also gain product and technical leadership
across a wide range of industries. It will be named Honeywell, and have its headquarters
in Morristown, New Jersey.
Honeywell''s major activity is in the
avionics business, while Allied Signal manufactures electronic devices and avionics for
aerospace industries. Allied Signal was in talks with AMP Inc., which failed as AMP merged
with Tyco International Ltd.
Against this background,
R. Makhija, managing director and chief executive officer of Tata Honeywell, the joint
venture between Tata Industries and Honeywell, has asserted that the global merger will
not affect the operations of the Indian joint venture.
Tata Honeywell is in the industrial
automation and control, and homes and building control systems.