Industrial conglomerate Honeywell announced Thursday its intention to pursue major acquisitions ranging from $2 billion to $4 billion in value, with particular focus on expanding its industrial automation operations.
During the company’s investor presentation in New York, Peter Lau, who leads Honeywell’s Industrial Automation division, expressed enthusiasm about potential deals in the sector.
“There is a ton of opportunity for M&A,” Lau stated, noting that his division operates within an approximately $35 billion marketplace.
Despite the acquisition focus, Lau emphasized that internal growth continues to be a key priority for the company. He characterized the automation business as “way underpenetrated” when it comes to solutions and software offerings.
Company-wide, Honeywell indicated it plans to pursue strategic acquisitions within its stated $2 billion to $4 billion target range. The corporation is concentrating on automation technologies and other critical operational sectors where management anticipates clear business advantages and robust profit potential.
