Honeywell Announces Garrett as Company Name for Transportation Systems Business After Spin-Off & Olivier Rabiller to continue as CEO of Garrett – Advancing Motion
MORRIS PLAINS, NJ, June 14, 2018 – Honeywell (NYSE: HON) today announced that its Transportation Systems business will rebrand itself “Garrett – Advancing Motion” upon successful completion of the previously announced spin which is expected to close before the end of the third quarter.
The Garrett name ties back to Honeywell’s turbo origins in the 1950s. At that time, entrepreneur and engineer Cliff Garrett led a project team to develop a turbocharger for a Caterpillar D9 crawler tractor that launched in 1954, marking the beginning of the turbocharged era for the automotive industry. Since then, Transportation Systems technologies and innovations have been used by nearly every major global auto maker, resulting in approximately 100 million vehicles with our products and an average launch rate of 100 new applications annually spanning, gas, diesel, natural gas, electric and fuel cell powertrains.
Honeywell Transportation Systems has been using the Garrett name to brand its current portfolio of aftermarket replacement and performance upgrade turbochargers for gasoline and diesel passenger and commercial vehicles. The decision was made to name the new company Garrett to acknowledge its long history of innovation while adding the tag line ”Advancing Motion” to embrace the future and the broader portfolio of differentiated products and services that Transportation Systems offers its global customers. The new Garrett company is well-positioned to be a global leader in turbocharger technologies with best-in-class engineering capabilities for a broad range of engine types across automobile, truck and other vehicle markets. It will build upon its established track record as an industry leader by providing innovative solutions helping auto makers develop electrified powertrains with our eBoosting solutions and connected vehicles that use our software for safe and secure performance.
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