Since taking charge in 2002, Dave Cote has built one of the world’s most successful industrial conglomerates by making dozens of opportunistic acquisitions in such diverse fields as avionics, plastics and security systems. In early 2015, Cote veered from that deliberate strategy to launch a hostile, $90 billion bid for rival United Technologies. Anti-trust issues, and complaints from Boeing and Airbus, who wanted to keep both suppliers as competitors, killed the campaign. Since then, Cote has excelled at his regular practice of buying mundane-sounding industrial businesses, then strongly improving their profitability. Last year, he plowed $5.8 billion into new deals, including the purchase of German gas meter-maker Elster. He’s juggling divestitures as well, announcing the sale of the resins and chemicals units. The Cote treatment still works: Honeywell delivered its sixth straight years of double-digit increases in EPS. His contract expires in late 2017, but it’s certain that shareholders would love to see the GE veteran stay on the job.
News about Honeywell International
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