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A 1990 Honeywell-Bull Entry Level Mainframe DPS 7 mainframe. In April 1955, Minneapolis-Honeywell started a joint venture with Raytheon called Datamatic to enter the computer market and compete with IBM. [12]: 118 In 1957, their first computer, the DATAmatic 1000, was sold and installed. In 1960, just five years after embarking on this venture ...
The two companies had patents which blocked each other from further growth. They merged to form the Minneapolis-Honeywell Regulator Company, [3] with Sweatt as chairman and Honeywell as president. As of 2007, Honeywell International, Inc., the corporate descendant of Minneapolis-Honeywell, is a global business with more than 100,000 employees.
The firm was reorganized and its name changed to Honeywell Heating Specialties Company in 1916, and it began to produce automatic temperature controls. By 1927, company sales were more than $1.5 million and 450 people worked in the Wabash factory. Mr. Honeywell's competitor was W.R. Sweatt and his Minneapolis Heat Regulator Company.
Binger joined Honeywell in 1943 and became its president in 1961 and its chairman in 1965. On becoming Chairman, he revamped the company sales approach, placing emphasis on profits rather than volume. He increased the company's international expansion, and changed the company's name from Minneapolis-Honeywell Regulator Co to Honeywell. [4]
Albert Butz (1849–1905) was a Swiss-born American inventor and businessman who founded the Butz Thermo-electric Regulator Company that, through a series of re-organizations, name changes, and mergers, became Honeywell, Incorporated.
The Honeywell Project was a peace group based in Minneapolis, Minnesota, United States that existed from the late 1960s until around 1990. During its existence, the organization waged a campaign to convince the board and executives of the Honeywell Corporation to convert their weapons manufacturing business to peaceful production.
[1] [7] Under his leadership, the company underwent a transformation, diversifying its operations and changing its name to Honeywell. [8] During Wishart's tenure, Honeywell's revenue increased from $200 million to over $400 million, and profits grew from $10 million to $26 million. [8] Wishart retired from his position at Honeywell in 1965. [8]
Honeywell was headquartered in Minneapolis but moved to Morristown, New Jersey to occupy Allied Signal's headquarters after the two companies merged in 1999. Honeywell's former headquarters is now occupied by Wells Fargo. The Soo Line Railroad is based in Minneapolis, but is owned by the Canadian Pacific Railway.