Honeywell announced plans to sell its Productivity Solutions and Services (PSS) business to Brady Corporation, an international manufacturer of identification and protection solutions.
The transaction follows the sell of its Warehouse and Workflow Solutions (WWS) business to further simplify the company's portfolio alongside the planned spin-off of its Aerospace business.
"With the PSS divestiture, we are nearing completion of our multi-year portfolio transformation, further accelerating value creation as we prepare to separate our Aerospace and Automation businesses into two independent industry leading public companies. The sale also enables us to continue strengthening our financial and operational focus on the company's core businesses," says Vimal Kapur, chairman and CEO of Honeywell. "Going forward, PSS will benefit from Brady's highly complementary and specialized leadership in industrial identification and safety, creating a broader, more integrated offering for warehouse, logistics and manufacturing customers."
Key takeaways:
· PSS is a provider of mobile computers, barcode scanners and printing solutions serving the warehouse and logistics market. PSS is currently part of Honeywell's Industrial Automation (IA) business portfolio.
· Brady Corporation is an international manufacturer and marketer of high-performance labels, signs, safety devices and printing systems for electronics, manufacturing and aerospace industries.
· This announcement follows the divestiture of Honeywell's Personal Protective Equipment (PPE) business in 2024.
