Honeywell Aerospace Technologies, a unit of Honeywell, has announced plans to invest $84 million in expanding its manufacturing facility in Olathe, Kansas. The expansion project aims to strengthen the company's supply chain and secure the availability of parts for next-generation avionics and printed circuit board assemblies. The investment will create new production lines and employ 156 additional workers, making the facility one of Honeywell's most technologically advanced aerospace manufacturing sites. The expansion aligns with Honeywell's focus on the future of aviation and its commitment to developing a strong and resilient domestic supply chain. The Olathe plant currently manufactures glass panels and weather radars and requires skilled workers for the expansion. The announcement was attended by local, federal, and state politicians, highlighting the significance of the project [9060c0f6].
Governor Laura Kelly announced that Honeywell will invest $84 million to expand its aerospace manufacturing facility in Olathe, creating 156 new jobs. The project is expected to generate nearly $47 million in total gross domestic product (GDP) and contribute $18.3 million in state and local taxes in its first six years. The expansion will create one of Honeywell’s most technologically advanced aerospace manufacturing facilities. The facility currently manufactures components for avionics, safety and flight control systems, complex radio frequency systems, radar altimeters, and weather radar. The newly expanded facility will create ongoing economic benefits, supporting more than 200 jobs in other sectors of the Kansas economy. The construction and installation of new equipment will create temporary, one-time economic benefits, including 268 one-year jobs supported in Kansas and generating nearly $25 million in GDP. U.S. Senator Jerry Moran and U.S. Representative Sharice Davids praised the expansion for its role in supporting the domestic industrial base in the aviation sector and generating good-paying jobs. Lieutenant Governor and Secretary of Commerce David Toland highlighted the expansion as a testament to the state's aerospace and advanced manufacturing sectors [fa99f2ea].
In addition to the facility expansion, Honeywell has announced its intention to acquire Civitanavi Systems, a company specializing in position navigation and timing technology. The acquisition will strengthen Honeywell's capabilities in autonomous operations in aircraft and other vehicles. The transaction is expected to close in Q3 2024, subject to customary closing conditions and antitrust clearance. The acquisition aligns with Honeywell's portfolio strategy around three megatrends, including the future of aviation and automation. The equity value of the acquisition is approximately €200 million, with a cash offer of €6.30 per share. Civitanavi's technology complements Honeywell's existing navigation and sensors business, further enhancing its position in the market [88165144].