Honeywell Eyes $2 Billion Restructuring as PSS and WWS Divisions Face Strategic Review Ahead of 2026 Split

On July 8, Honeywell revealed it will launch a strategic review for its two major divisions—Productivity Solutions & Services (PSS) and Warehouse & Workflow Solutions (WWS)—each boasting 2024 revenues exceeding $1 billion. This move is a pivotal step in Honeywell’s plan to streamline its structure and accelerate its transformation into a pure-play automation company by 2026.

The review, part of an ongoing company-wide evaluation begun early in 2024, sets the stage for a three-way split. PSS and WWS serve the transportation, logistics, and warehousing sectors, offering advanced products like mobile terminals, barcode scanners, automated sorting, and robotics.

Chairman and CEO Vimal Kapur stated, “This assessment is crucial for sharpening our focus on building, process, and industrial automation, where we see long-term global growth opportunities.” He also emphasized that both PSS and WWS have robust customer bases, wide product portfolios, and strong innovation pipelines, and Honeywell is committed to unlocking their value through various strategic alternatives.

Additionally, Honeywell appointed industry veteran Jim Masso as President and CEO of its Process Automation business, effective July 14. Centerview Partners is acting as financial advisor for the review. Notably, Honeywell recently sold its personal protective equipment unit in May, continuing its aggressive push to simplify and focus its business since June 2023.