Technology
Global Times: Ningbo-Zhoushan Port’s global connectivity seen from a small button controlling bridge crane
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1 year agoon
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BEIJING, May 26, 2025 /PRNewswire/ — When Zhu Shijie started working at the Chuanshan port area of Ningbo-Zhoushan Port in East China’s Zhejiang Province in 1999 as a bridge crane operator loading and unloading containers onto or from ships, the port’s annual handling of 500,000 containers was celebrated with a ceremony. In 2025, the veteran crane operator, said he hopes he could be the one to press the button that picks up this year’s 38 millionth container milestone for Ningbo Zhoushan Port Group.
Reaching that figure this year will be no small feat given the profound turbulence in global trade, as it means a growth of 4 million containers from the last year’s 34 million. In fact, in his 26 years working at the port, Zhu Shijie has had a front-row seat to witness the meteoric rise of Ningbo-Zhoushan Port, now the world’s largest port in terms of cargo throughput.
In 2024, it handled a total of more than 1.37 billion tons of cargo, an increase of 4 percent year-on-year, setting a record high and ranking first in the world for the 16th consecutive year.
Indeed, he has witnessed several key moments of the port’s development. In 2006, when President Xi Jinping, then Party chief of Zhejiang Province, came to the port to personally press the button to pick up the 7 millionth container, Zhu Shijie was the one who operated the bridge crane.
In March 2020, when President Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, visited the Chuanshan port area of the Ningbo-Zhoushan Port, whose throughput has recovered to normal levels due to the timely measures it adopted to resume production amid the COVID-19 pandemic, Zhu Shijie was also onsite.
Regarding the port as a hard-core power, Xi said Ningbo-Zhoushan Port plays an important role in national strategies such as the building of the Belt and Road Initiative (BRI), the development of the Yangtze River Economic Belt and the integration of the Yangtze River Delta, according to the Xinhua News Agency.
Given its strategic importance and sheer size, the Ningbo-Zhoushan Port offers a vantage point into gauging the state of not only China’s foreign trade sector but also global trade as a whole. As global trade encountered tremendous turbulence due to the US’ unilateral tariffs in recent months, the Global Times recently visited the port to find out the impacts of the tariffs on China’s trade with countries and regions around the world.
In interviews with the Global Times, employees like Zhu Shijie and business owners in the logistics and manufacturing sectors said that despite the negative impact on certain US-bound shipments, overall operations remained stable, with better-than-expected performances. From US clients rushing to ship orders following mutual tariff reductions to the surge in shipments to the EU, ASEAN, and other parts of the world, the scenes they described painted a vivid picture of China’s resilient and robust foreign trade sector despite a rising tide of unilateralism and protectionism.
Hardcore strength – surging above the tide
Entering the Ningbo-Zhoushan Port, a bustling scene unfolded – bridge cranes are busy uploading cargoes onto the ships, with both unmanned and manned container trucks rushing to pick up or drop off containers in the port area.
“This ship that is currently docked at the terminal comes from the East Coast of the US,” He Xiaohui, assistant manager of the Operation Department of Meishan port area of Ningbo-Zhoushan Port, told the Global Times, pointing to the ship on a real-time monitoring screen of all vessels at the port.
“In April, we did face the challenge of fluctuations in cargo volume on the US shipping lines. However, we still achieved a cargo throughput of 998,000 containers for the entire month, marking a 5.6 percent growth year-on-year. This week, the weekly throughput has begun to steadily rebound,” said He.
Meishan port area is the terminal with the most US lines in Ningbo-Zhoushan Port, and the volume of US line containers in Meishan accounts for about 40 percent of the port’s total.
On April 2, the US government announced what it claims to be “reciprocal tariffs” against its trading partners, including China. After China took firm countermeasures to safeguard its rights and interests, the US further increased tariffs to levels that even its officials said “unsustainable.” However, on May 12, after a high-level meeting in Geneva, the two countries issued a joint statement announcing the removal of significant tariffs on each other and suspending some duties for 90 days.
Highlighting the anxiety among US businesses caused by the US tariffs, after the China-US joint statement, many US clients have rushed to arrange for the shipping of their products from the Ningbo-Zhoushan Port.
At the 36,000-square-meter warehouse of Ningbo Blue Dragon Logistics in the Beilun port area of the Ningbo-Zhoushan Port, Global Times reporters observed dozens of forklifts moving at high speed, as if in an F1 race, loading goods such as footwear, toys, electronics, and daily necessities onto containers for export.
“From May 12 to 18, previously suspended US-bound export orders are now being expedited for shipment. The volume of goods we received increased by approximately 20 percent week-on-week, and our warehouse temporarily reached full capacity,” Wang Min, business manager of Ningbo Blue Dragon Logistics Co, told the Global Times. “Chinese exporters and US importers are rushing to make up for the delay of Chinese products due to high US tariffs.”
Wang said that their five-story shelves are packed every day, requiring workers to clear space daily for new export cargo coming in.
Surprisingly, Wang found that exports maintained growth in April despite a 30 percent drop in US-bound business volume.
“Initially, we thought the export decline to the US would impact our April performance, as US exports account for about 45 percent of our total,” Wang said, adding that steady growth in other shipping routes has offset the shortfall.
Wang was among thousands of Ningbo’s foreign trade-related enterprises that have made multifaceted efforts to drive exports forward against headwinds.
As a result, Ningbo witnessed 11.5 percent year-on-year growth in its foreign trade from January to April, totaling 872.42 billion yuan ($121.1 billion). Among which, exports were up 17.9 percent year-on-year, according to statistics from the Ningbo customs.
While some US importers eagerly await Chinese products across the Pacific, Zhu Guoqin, owner of Ningbo AT Import & Export Co Ltd., a company specializing in luggage exports, is considering redirecting about 80 containers of luggage worth $15 million, originally booked by a US customer, to other markets, as the customer has not yet contacted her for re-shipment.
She revealed that her company shared the 20 percent US tariffs on Chinese goods in March with US customers. However, after an additional 34 percent tariff in April, American clients halted orders. These tariffs were not included in the recent bilateral tariff reductions.
“This batch of luggage is designed for summer vacations, meant to be shipped to the US in March and on the shelf in April. However, the 80 containers remain in our warehouse. US exports accounted for about 25 percent of our $50 million total exports in 2024,” Zhu Guoqin told Global Times.
However, the 14 production lines of Ningbo AT Import & Export Co were still running in full swing when the Global Times reporters visited its factory recently, as the company’s largest market is Europe and orders are fully booked until July.
“Frankly, the US tariffs didn’t significantly impact our production. We were just less busy,” Chen Guihua, a staff member at Ningbo AT Import & Export Co., told the Global Times.
Chen was among many export-related people who expressed confidence in China’s foreign trade, even when facing headwinds of uncertainty. Such confidence also came from the growth of Ningbo-Zhoushan Port.
The unmanned trucks, running between containers “hills” inside the Meishan port area, are a manifestation of surging trade, as they allow 24-hour operation, Hu Jinqu, head of the publicity department of Ningbo Zhoushan Port Group, told the Global Times.
“Bridge cranes can be controlled from an office kilometers away from the port, with the operation difficulty largely reduced. The task that is often described as ‘threading the needle in the sky’ is now simplified as ‘catching dolls in a claw machine’,” said Hu.
This represents part of the extensive infrastructure upgrading of the Ningbo-Zhoushan Port, which now has more than 630 berths across 20 port areas. Meanwhile, its sea-rail transport expands the service area to neighboring provinces.
The hard-core power of the Ningbo-Zhoushan Port also stems from its global connectivity, with 306 shipping routes connecting with more than 600 ports in over 200 countries and regions, according to the latest official data.
But more importantly, the people. The entire Chinese foreign trade sector has been striving to enhance its resilience.
Ningbo’s enterprises vividly embody the “sweet potato economy,” a theory that was scientifically explained by Xi as the Party chief of Zhejiang more than 20 years ago, symbolizing Zhejiang’s growth strategy, with local investments spreading globally like sweet potato vines, enhancing international engagement and strengthening the local economy.
Well-Prepared for Uncertainties
Zhu Guoqin, for example, said that she sensed the geopolitical uncertainties ahead last year and quickly adjusted her company’s target markets.
In July 2024, Ningbo AT Import & Export Co. registered its own brands and opened flagship stores on Chinese e-commerce platforms, with domestic sales steadily increasing since the beginning of 2025. Additionally, in late 2024, the company applied to participate in South American trade fairs to explore new markets.
“These measures will likely offset the shortfall in US-bound orders in the second half of 2025,” Zhu Guoqin said. “We’ve weathered ‘tariff storms.’ Every challenge has a solution.”
Many Chinese export companies had prepared for – could be as early as 2018 – the uncertainty aroused by the US tariffs.
Wang from the logistics company noted that “since the US-initiated trade war began in 2018, Chinese exporters have increasingly emphasized export diversification.”
The layout of diversifying trade partners has proven effective in Ningbo’s latest trade statistics.
“In the first four months of 2025, the EU was Ningbo’s largest trade partner. It was the US in 2024,” Gao Xuefeng, deputy section chief of Logistics Supervision Section 3 in Daxie Customs affiliated with the Ningbo Customs, told the Global Times.
From January to April, trade between Ningbo and the US decreased by 0.4 percent year-on-year, despite a 2.8 percent growth in export. In contrast, Ningbo’s trade with the EU surged 18.6 percent year-on-year, whilst trade with ASEAN grew 22.7 percent.
It is worth noting that for the trade volume under the multilateral mechanism, Ningbo witnessed a trade growth of 15.9 percent with BRI partner countries, accounting for 51.6 percent of total.
In the first four months, China’s total foreign trade with BRI partner countries surged 3.9 percent, accounting for 51.3 percent of its total. China’s foreign trade with ASEAN, its largest trade partner, grew 9.2 percent year-on-year, accounting for 16.8 percent of the country’s total, official data showed.
The continuous growth and expanding friend circles of China’s foreign trade can be seen from the evolution of the height of the bridge crane at ports.
From a 32-meter-high bridge crane in 1999, working on the crane, to a 52-meter-high bridge crane, working remotely from an office, Zhu Shijie’s workplace transformation exemplifies this development.
“The change in height means a sixfold increase in cargo handling capacity. The 52-meter-high bridge crane, with 5G and other high-tech features, enables 24-hour cargo unload and upload operation for a ship carrying 24,000 TEUs – currently the world’s largest cargo ship,” said Zhu Shijie.
The crane upgrades align with surging cargo handling needs at the port. On its path to becoming a world-class port with hard-core strengths, Ningbo-Zhoushan Port is becoming an open hub, taking on the role of a global supply chain organizer and protector, reflecting the high-quality development and resilience of Chinese foreign trade.
This resilience is evident in both volume and structural optimization. Therefore, when Zhu Shijie presses the button for the new container milestone at the end of 2025, that container may well be heading to or coming from emerging markets or the Global South.
https://www.globaltimes.cn/page/202505/1334733.shtml
View original content:https://www.prnewswire.com/news-releases/global-times-ningbo-zhoushan-ports-global-connectivity-seen-from-a-small-button-controlling-bridge-crane-302465007.html
SOURCE Global Times
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Technology
Keeper Security Introduces Universal Secrets Sync to Eliminate Credential Drift Across Cloud Environments
Published
54 minutes agoon
June 15, 2026By
New KeeperPAM capability automatically distributes rotated secrets to AWS, Azure and Google Cloud in a single rotation event with no manual steps or drift
CHICAGO, June 15, 2026 /PRNewswire/ — Keeper Security, the leading zero-trust and zero-knowledge identity security and Privileged Access Management (PAM) platform, is announcing the availability of Keeper Universal Secrets Sync, which launched on June 4th. The new capability within KeeperPAM® automatically distributes credentials and secrets to external secrets managers and cloud platforms the moment they rotate, closing the gap between stored secrets and what’s actually running in production.
For organizations managing secrets across multi-cloud environments, the risk is not only exposure – it’s drift. When credentials stored in a PAM platform fall out of sync with what is running in production pipelines, the consequences range from access failures and delayed incident response to shadow secrets that carry active privileges no security team can see, govern or revoke. Global research has found that 86% of IT and security leaders agree their organization would benefit from a PAM solution, yet even among organizations with PAM in place, 46% still struggle to manage privileged access consistently across cloud and hybrid environments. Universal Secrets Sync closes that gap.
Automatic Distribution Across Every Cloud Target
Keeper Universal Secrets Sync monitors one or more Keeper Secrets Manager shared folders and automatically distributes the contents to configured cloud targets, including AWS Secrets Manager, Azure Key Vault and Google Cloud Secret Manager. When a secret rotates in KeeperPAM, every cloud environment receives the updated credential automatically, with no manual exports, no custom integration scripts and no reconfiguration after rotation required.
Additional capabilities include:
Automatic sync – Any change to a secret in a linked shared folder triggers an automatic push to all connected cloud targets. No manual action is required; the Gateway processes and distributes the update in the background.Dry Run mode – Security teams preview exactly what will change before any secret is distributed, making Universal Secrets Sync compatible with change control requirements and environments that require additional oversight.Multi-folder sync – Secrets from multiple Keeper shared folders can be synchronized in a single configuration.Sync Identity – Administrators can specify a dedicated IAM role, managed identity or service account, with least-privilege access to the secrets store, for the Keeper Gateway to assume during sync operations.Error recovery – Missing secrets and permission errors are surfaced automatically, reducing the risk of sync failures going undetected.
“Secrets drift is one of the most underappreciated risks in enterprise security programs,” said Craig Lurey, CTO and Co-founder of Keeper Security. “Organizations unknowingly leave stale credentials active in downstream cloud environments when distribution is manual. Universal Secrets Sync makes distribution automatic and auditable. Every secret rotation updates to all connected targets simultaneously, with Dry Run mode giving teams full visibility into what will change before anything is written.”
Flexible Retrieval for Every Workload
Universal Secrets Sync gives developers the right access path for each use case. Cloud-native applications that demand high throughput and low latency continue reading directly from AWS Secrets Manager, Azure Key Vault or Google Cloud Secret Manager using familiar native SDKs and IAM controls – ideal for services performing hundreds of thousands or millions of retrievals per day. For CI/CD pipelines, scripts, internal tools and services running outside the cloud, developers retrieve secrets directly from Keeper Secrets Manager via the KSM SDK or CLI, with full zero-knowledge protection end-to-end. The result is a single source of truth with two complementary access patterns – fast, native retrieval where scale matters, and direct KSM access where reach and zero-knowledge control matter most.
Keeper Universal Secrets Sync is available now as part of KeeperPAM and is included in existing KeeperPAM licenses. Existing customers should contact their Keeper customer success manager to enable this feature. New customers can request a demo at keepersecurity.com.
About Keeper Security
Keeper Security is the leading zero-trust and zero-knowledge identity security solution, trusted by millions of people and thousands of organizations globally. KeeperPAM® is Keeper’s privileged access management platform that unifies password and passkey management, secrets management, privileged session management and endpoint privilege management in a single cloud-native platform, protected with quantum-resistant encryption. KeeperAI delivers real-time, AI-native threat detection across every privileged session. As AI agents proliferate and identity becomes the defining attack surface, Keeper governs access for humans, machines, non-human identities and AI agents, serving as the unified control plane for access, compliance and visibility across the enterprise. For more information, visit KeeperSecurity.com.
Learn more: KeeperSecurity.com
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Media Contact
Katherine Benfield
ICR for Keeper Security
KeeperSecurity@icrinc.com
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SOURCE Keeper Security
Technology
Tripadvisor Enters into Agreement to Sell TheFork to American Express for $700 Million
Published
54 minutes agoon
June 15, 2026By
Transaction highlights the value of Tripadvisor’s portfolio and enables greater focus on experiences
NEEDHAM, Mass., June 15, 2026 /PRNewswire/ — Tripadvisor, Inc. (NASDAQ: TRIP) (the “Company”) today announced it has entered into a put option agreement to sell TheFork, its online restaurant reservation and management platform in Europe, to American Express for $700 million in an all-cash transaction.
The agreement follows Tripadvisor’s February 2026 announcement that it would explore strategic alternatives for TheFork. It recognizes the value created in the business over more than a decade, and allows Tripadvisor to focus even more fully on its Experiences strategy.
“This agreement reflects two things we believe deeply: the tangible value across Tripadvisor Group’s portfolio and our ongoing focus on the opportunity we see ahead in Experiences,” said Matt Goldberg, CEO, Tripadvisor Group. “We’re proud of what we’ve built with TheFork and grateful for the team’s work to secure a leading position in European dining. I’m confident that we’ve found an ideal home for them and look forward to expanding our relationship with American Express in the future.”
The transaction is expected to provide Tripadvisor with significant flexibility to accelerate its capital return policy, maintain a well-capitalized balance sheet, and continue investing in its Experiences business to drive shareholder value. The companies also see opportunities to build on their existing relationship and deliver additional value to travelers over time.
“In addition to welcoming TheFork to the American Express family, we’re excited about the opportunity to deepen our relationship with Tripadvisor going forward,” said Stephen Squeri, Chairman and CEO, American Express. “By building on our shared strengths across dining, travel, and experiences, we have opportunities to create even greater value for customers and partners.”
The proposed transaction is expected to close before the end of 2026, subject to labor consultation and customary closing conditions, including regulatory approvals. The Company anticipates minimal tax cost from the sale of TheFork, with net proceeds expected to closely approximate the gross proceeds. Potential uses of proceeds include share repurchases, debt paydown, or inorganic investment within the experiences category.
As of the first quarter of 2026, the Company’s last reported period, the last twelve-month revenue for TheFork was $232 million and adjusted EBITDA for TheFork segment for the same period was $28 million.
Advisors
Goldman Sachs served as financial advisor and Goodwin Procter LLP and Reed Smith LLP served as legal advisors to Tripadvisor and TheFork.
Note on Segment Adjusted EBITDA
We refer to segment adjusted EBITDA as a measure of segment profitability because it is the measure of profit or loss for our reportable segments provided to our Chief Operating Decision Maker (CODM) in accordance with U.S. GAAP for segment reporting. Segment adjusted EBITDA is a key performance measure used by our CODM and Board of Directors to evaluate our individual operating segments. We define adjusted EBITDA as net income (loss) plus: (1) (provision) benefit for income taxes; (2) other income (expense), net; (3) depreciation and amortization; (4) stock-based compensation; (5) goodwill, long-lived asset, and intangible asset impairments; (6) legal reserves, settlements and other (including indirect tax reserves related to audit settlements and the impact of one-time changes resulting from enacted indirect tax legislation); (7) restructuring and other related reorganization costs; (8) transaction related expenses (including non-operational costs related to significant shareholder activism, which includes third-party advisory, legal, and other professional fees); and (9) non-recurring expenses and income unusual in nature or infrequently occurring.
About Tripadvisor, Inc.
The Tripadvisor Group connects people to experiences worth sharing, and aims to be the world’s most trusted source for travel and experiences. We leverage our brands, technology, and capabilities to connect our global audience with partners through rich content, travel guidance, and two-sided marketplaces for experiences, restaurants, and other travel categories such as hotels. The subsidiaries of Tripadvisor, Inc. (Nasdaq: TRIP), include a portfolio of travel brands and businesses, including Tripadvisor, Viator, and TheFork.
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding the proposed sale of Tripadvisor’s TheFork business to American Express, the anticipated benefits, related agreements and timing of the transaction and potential uses of proceeds. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.
Key factors that could cause such differences include: whether or when the required employee works council consultation processes are completed; the ability of the parties to successfully execute a definitive purchase agreement following exercise of the put option; the satisfaction of closing conditions, including obtaining regulatory and antitrust approvals; difficulties or unexpected costs relating to segregating the integrated technology data and platform of TheFork from our retained operations and anticipated benefits for Tripadvisor as a result of the proposed transaction do not fully materialize; risks related to disruption of management time; the operational risk of running our core business without the integrated data platform of TheFork; and the potential for material adjustments to net working capital or unforeseen tax consequences related to the divestiture. Tripadvisor expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect any change in Tripadvisor’s expectations with regard thereto or any change in events, conditions or circumstances on which such statement is based. Please refer to the publicly filed documents of Tripadvisor, including its most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports Tripadvisor subsequently filed with the SEC, for additional information about Tripadvisor and about the risks and uncertainties related to Tripadvisor’s business which may affect the statements in this release.
TRIP-G
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Technology
HONEYWELL BOARD OF DIRECTORS APPROVES SPIN-OFF OF HONEYWELL AEROSPACE
Published
54 minutes agoon
June 15, 2026By
Spin-off distribution is expected to occur on June 29, 2026Honeywell Aerospace will be a leading global tier-1 aerospace and defense supplier of mission critical systems and technologiesHoneywell Technologies will be a global leader of the industrial world’s transition from automation to autonomy
CHARLOTTE, N.C., June 15, 2026 /PRNewswire/ — Honeywell (NASDAQ: HON) today announced that its Board of Directors has formally approved the planned spin-off of Honeywell Aerospace. This approval represents a significant milestone in the separation process, which remains on track for completion on June 29, 2026. Following the completion of the spin-off, the remaining pure-play automation company will be known as Honeywell Technologies.
At 12:01 a.m. New York City time on June 29, 2026 (the “Distribution Date”), Honeywell will distribute all of the issued and outstanding shares of Honeywell Aerospace common stock pro rata to Honeywell shareowners of record on June 15, 2026 (the “Record Date”), on the basis of one share of Honeywell Aerospace common stock for every two shares of Honeywell common stock held as of the close of business on the Record Date. The distribution is subject to the satisfaction or waiver of certain conditions, as set forth in the form of Separation and Distribution Agreement filed with the U.S. Securities and Exchange Commission (“SEC”) as part of Honeywell Aerospace’s registration statement on Form 10, which was declared effective by the SEC on June 11, 2026.
“Today’s announcement clears the path to establishing two independent industry leaders in Honeywell Aerospace and Honeywell Technologies and also reflects our significant portfolio transformation over the past three years,” said Vimal Kapur, Chairman and CEO of Honeywell. “With clear strategies and growth drivers that build on Honeywell’s century-long legacy, we are confident that both companies will be well-positioned to maximize long-term value for customers, employees and shareowners.”
Honeywell Aerospace common stock is expected to begin trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “HONAV” on a “when-issued” basis on or about June 15, 2026. Honeywell Aerospace common stock is expected to begin “regular-way” trading on Nasdaq under the ticker symbol “HONA” on June 29, 2026. Following the separation, Honeywell Technologies will continue to trade on the Nasdaq under the ticker “HON.”
Beginning on or about June 15, 2026 and continuing through June 26, 2026, it is expected that there will be two markets in Honeywell common stock on Nasdaq: a “regular-way” market under Honeywell’s current ticker symbol “HON”, in which Honeywell shares will trade with the right to receive shares of Honeywell Aerospace common stock on the Distribution Date, and an “ex distribution” market under the ticker symbol “HONIV”, in which Honeywell shares will trade without the right to receive shares of Honeywell Aerospace common stock on the Distribution Date.
As previously announced, a 1-for-2 reverse stock split of Honeywell Technologies common stock will immediately follow the spin-off along with a proportionate reduction in the Company’s number of authorized shares of common stock, subject to and contingent on the completion of the Honeywell Aerospace spin-off.
About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology that help make the world smarter and safer as well as more sustainable.
Additional Information
Honeywell uses our Investor Relations website, www.honeywell.com/investor, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.
Forward-Looking Statements
Certain statements in this release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. Some of the important factors that could cause Honeywell’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the ability of Honeywell to effect the spin-off transaction described above and to meet the conditions related thereto; (ii) the possibility that the spin-off transaction will not be completed within the anticipated time period or at all; (iii) the possibility that the spin-off transaction will not achieve its intended benefits; (iv) the impact of the spin-off transaction on Honeywell’s businesses and the risk that the spin-off transaction may be more difficult, time-consuming or costly than expected, including the impact on Honeywell’s resources, systems, procedures and controls, diversion of management’s attention and the impact and possible disruption of existing relationships with regulators, customers, suppliers, employees and other business counterparties; (v) the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the spin-off transaction; (vi) the uncertainty of the expected financial performance of Honeywell or Honeywell Aerospace following completion of the spin-off transaction; (vii) negative effects of the announcement or pendency of the spin-off transaction on the market price of Honeywell’s securities and/or on the financial performance of Honeywell; (viii) the ability to achieve anticipated capital structures in connection with the spin-off transaction, including the future availability of credit and factors that may affect such availability; (ix) the ability to achieve anticipated tax treatments in connection with the spin-off transaction and future, if any, divestitures, mergers, acquisitions and other portfolio changes and the impact of changes in relevant tax and other laws; (x) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with the spin-off transaction and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions; and (xi) the possibility that the reverse stock split and authorized share reduction will not be completed within the anticipated time period or at all, including due to a failure of the spin-off transaction to occur. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the SEC. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.
Honeywell Contacts:
Media
Investor Relations
Stacey Jones
Mark Macaluso
(980) 378-6258
(704) 627-6118
Honeywell Aerospace Contacts:
Media
Investor Relations
Brian Grace
Sean Meakim
(602) 897-0205
(704) 627-6200
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SOURCE Honeywell
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HONEYWELL BOARD OF DIRECTORS APPROVES SPIN-OFF OF HONEYWELL AEROSPACE
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