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Honeywell
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, Honeywell Operating
System and Functional Transformation, 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.
Honeywell
was founded and shaped by inventive technical people and superior leadership.
These same values power the new Honeywell. The new Honeywell captures the best
of its AlliedSignal and Honeywell Inc. heritage, and is one of the world’s
leading companies.
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