CHAROTTE — Honeywell International Inc. has agreed to sell off another business unit as it reconfigures its portfolio under CEO Vimal Kapur.
The Charlotte-based conglomerate announced today that it reached a deal to sell its Personal Protective Equipment business to Protective Industrial Products Inc. for $1.325 billion. The all-cash transaction will complete Honeywell’s exit from the PPE sector.
Honeywell’s PPE business has approximately 5,000 employees, 20 manufacturing sites and 17 distribution locations across the U.S., Mexico, Europe, Africa and Asia.
Honeywell has been active in reshaping its footprint since Kapur took over as CEO last year. Kapur rolled out a reorganization plan in October 2023 to focus on three “megatrends” in automation, energy transition and the future of aviation. Honeywell’s following moves have been with that plan in mind.
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