13 Dec Honeywell divest PPE to broaden its portfolio

Honeywell has revealed that it will sell its Personal Protective Equipment (PPE) business to Protective Industrial Products (PIP) for USD$1.325 billion in cash.

This decision is part of Honeywell’s plan to focus on more important areas like automation technology, aviation, and energy solutions.

The PPE division, which produces safety gear for workers, has around 5,000 employees and operates 20 factories and 17 distribution centers around the world.

Honeywell will keep its gas detection product line within its automation division.

PIP, which is backed by Odyssey Investment Partners and has a strong reputation as a global supplier of personal protective gear, is expected to help the PPE business grow further.

Honeywell’s Chairman and CEO, Vimal Kapur, pointed out the improvements and expansion the PPE division has achieved over the past five years and believes that PIP will continue to drive innovation.

The sale, which needs regulatory approval and other usual conditions, is anticipated to be finalised in the first half of 2025.