Honeywell International Inc. will spin off its aerospace division to create a new, standalone company that will be headquartered in Phoenix, company officials announced Thursday.

An activist investor's dream scenario has come to fruition with Honeywell's decision to break up the company. Here's how it will affect workers in Phoenix.

Honeywell International Inc., one of the last remaining U.S. industrial conglomerates, will split into three independent companies, following in the footsteps of manufacturing giants like General Electric and Alcoa.

Honeywell Aerospace will become a separate company with its headquarters still in Phoenix, officials confirmed after details of its parent company's breakup were announced Thursday morning.

Honeywell Aerospace will become a separate company with its headquarters still in Phoenix, officials confirmed after details of its parent company's breakup were announced Thursday morning.