US manufacturer Honeywell has announced that it plans to book double-digit earnings growth through 2018, as the company looks to boost annual sales to $51 billion.
Ahead of its annual investor conference, Honeywell outlined plans to spend $10 billion on mergers and acquisitions that would add $5 billion to $8 billion in sales over the next five years. It expects sales to increase organically by $7 billion to $12 billion, lifting total revenue up to $51 billion.
“We have a great pipeline of potential targets,” Chief Executive Officer Dave Cote said in an investor meeting today in New York. “I’d like to be able to spend $10 billion on M&A; I can promise you I’m only going to do it if it’s smart.”
Honeywell’s product line ranges from car coolants to fighter-jet parts to thermostats, giving the company access to consumer and industrial markets. It manufactures many different products for the supermarket industry, most notably point of sale technologies.
Shares in Honeywell have climbed 49% since the start of 2013.
© 2014 - European Supermarket Magazine by Enda Dowling
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