 HoneywellCompany Description:In 2002, David M. Cote was named Chairman and CEO of Honeywell. Under his leadership the company focuses on five key initiatives: Growth, Productivity, Cash, People and the Enablers, DigitalWorks and Six Sigma, in order to strengthen Honeywell’s position as one of the world's leading enterprises in the new millennium.Honeywell can trace its roots back to 1885, when an inventor named Albert Butz patented the furnace regulator and alarm. He formed the Butz Thermo-Electric Regulator Co., Minneapolis, on April 23, 1886, and a few weeks later invented a simple, yet ingenious device that he called the "damper flapper." Here's how it worked. When a room cooled below a predetermined temperature, a thermostat closed the circuit and energized an armature. This pulled the stop from the motor gears, allowing a crank attached to the main motor shaft to turn one-half revolution. A chain connected to the crank opened the furnace's air damper to let in air. This made the fire burn hotter. When the temperature rose to the preset level, the thermostat signaled the motor to turn another half revolution, closing the damper and damping the fire. The temperature correction was automatic. Over the years, many Honeywell products have been based upon similar, but more complicated closed-loop systems. The Consolidated Temperature Controlling Co. incorporated, acquired Butz's patents and business, and by 1893, had renamed itself Electric Heat Regulator Co. The first company ads ran in 1895 featuring the now famous thermostat. In 1898, the company was purchased by W. R. Sweatt, who, by 1916, had changed the name of the company to Minneapolis Heat Regulator Company, expanded its product line and patented the first electric motor approved by Underwriters Laboratories. Worldwide Headquarters:
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