Honeywell & KE2 Therm To Cut Energy Costs For Retail Grocers
Zacks Investment Research | Sep 23, 2019 11:01PM ET
Honeywell International Inc. (NYSE:HON) recently announced a collaboration with KE2 Therm — a developer and producer of smart refrigeration controllers based in the United States.
Under the partnership, Honeywell will gain selling rights to KE2 Therm Solutions, which include advanced smart refrigeration controllers in the grocery domain. Also, the deal will allow KE2 Therm to sell Honeywell Multisite technologies comprising building controls systems, refrigerant leak detection sensors as well as electrical meters.
Notably, as a retail multi-site energy management solution, Honeywell Multisite provides full-service building management that includes engineering, design, programming as well as software and hardware production among others.
As a matter of fact, Honeywell’s leading service energy management support solutions combined with KE2 Therm’s advanced smart refrigeration controllers will help retail grocers to reduce energy costs and wastage apart from meeting regulatory instructions. The deal will also allow both the companies to serve a larger customer base that consists of retailer, grocer and restaurant chain, offering them an opportunity to realize bottom-line savings.
Our Take
Solid demand for commercial fire and security products is likely to consistently boost revenues at Honeywell’s Building Technologies segment. Also, strength in commercial aftermarket business and robust orders in the U.S. and international defense business are likely to drive the Aerospace segment’s revenues in the quarters ahead.
Furthermore, Honeywell believes that strong demand for its warehouse automation, sensing and IoT businesses will support the Safety and Productivity Solutions segment’s revenue growth.
Year to date, shares of Honeywell have gained 26.5% compared with the Zacks Investment Research
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