Lot of chatter before but full silence now. Did Honeywell or TH lee pull out or are they finalizing the deal? Anyone some more news or insights, would be great to see an Intelligrated - Fortna merger
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It sounds like the Intelligrated folks need to keep their resumes updated. I think Intelligrated business will be down about 40% compared to last year. Which was a down year too. Personally, I'm hoping for a voluntary RIF. Sad to see a once vibrant, growing business destroyed by Honeywell management. What is Honeywell going to destroy next?
There are very few orders booked for later this year...
Like a luxury electric vehicle, the value of Intelligrated just keeps plummeting and the longer you hold out the more antiquated the tech becomes.
Should have sold when they had the opportunity. Oh greed.
Is there anything new on this front? I've heard that there is something in the works, but it was not from a reliable source and may be old news.
Trew will be moving into the 263,000 sq/ft office and manufacturing facility in West Chester that HW shuttered last year. Since they offer a similar product line what IP is really left?
@wyfu+1qjVNCGI
You are wrong and it is obvious that you are not well connected.
Yeh, Honeywell has missed the window to sell it's IP. There is some incredible advancements coming from competitors in 2025 +. I have seen what is on the cards and it is game over for Intelligrated. Tragic.
It is interesting how Trew basically offers same products like Intelligrated. V-belts, belts and MDRs are almost 1:1 copy and now even shoesorter. I understand why, those are former designers of those things. But it must have impact on Intelligrated bussiness.
@wbig+1qjVNCGI It was never on in the first place. Made up rumor.
Officially the fortna Intelligrated deal is kaput for now.
Also officially, everything at Honeywell is always for sale, provided the right offer comes along.
The truth is that they will try to keep Intelligrated operating but at the same time continue on the path to it's demise. A slow painful death, the Honeywell way.
They have now missed the boat to sell what IP they could.
There is some incredible new tech coming next year from one competitor that will be game changing, some really clever use of AI and next level robotics.
Game over, I will enjoy watching from the profitable side whilst tucking into a nice bag of 'I told you so' :) :)
They are not shutting down Intelligrated you mo--n
@glve+1qjVNCGI
This doesn't surprise me one bit. Now I'm wondering what VK is going to discuss at the upcoming Townhall on the 24th. I was hoping that he was going to announce the sale of Intelligrated. Maybe he'll announce the shutting down of Intelligrated? He's got to do something to comfort the stockholders.
The same inside source who had valid inside information even before talks of a mhs / fortna merger was common, informed my team that HW valuation was way off and all parties walked away.
@ebru+1qjVNCGI
I know the R&D unit still exists, but it doesn't seem to be too effective. They have had the same issues as the rest of us with losing people and being granted no money to actually do anything. Managers making promises that there workers can't keep. Meanwhile, our competitors are cleaning our clock. Honeywell execs are only interested in lining their own pockets with the employee's cash.
Who is from Intelligrated, how the R&D projects are running? Or being started/closed? Do you see any trend?
There was some guys in green and black racing looking shirts walking around like they were doing an audit in the office before the holidays
@6zfv+1qjVNCGI Additionally, any remaining positions to be filled within the new entity will need existing HON employees to re-apply, and re-interview, with HON making the final call on who gets to go to stay on with the new company! Outrageous. Same thing just happened at Fairfield, OH media site. How they bargain this in is beyond me.
Just leave now before its too late.
So with work drying up and the sale to Fortna not likely to happen... whats in store?
@7ukd+1qjVNCGI No you are mistaken, that post is on the 2024 Layoff Thread not on here. My guess is the rumor of some deal with Fortna has legs, for sure there is a lot of strange stuff going on with SPS right now.
Hold on, some guy mentioned he believed that all parties walked away because the valuation was outrageous... and the post has vanished! What the heck does that mean!!
Selling company without employees makes no sense. But usually before any company is offered/sold/merged, most R&D is removed to reduce cost and on paper improve financial balance. So we can expect to see many R&D guys and similar functions that are not critical for short term functionality to be fired, probably many projects terminated unless in final stage and maybe even some sites closed.
@1xvl
Are you saying that if the potential buyer (Fortna??) doesn't hire you, then you get nothing? I think at this point that the divestiture may not happen, but it looks like there are still organizational changes being made in the SPS/Intelligrated sphere? I am still not comfortable with all of this even though I'd like to get out from Honeywell's incompetence.
Didn't refer to this site by name. I said the Internet.
@mez+1qjVNCGI You ratted on the site?
Get you resume done. All positions will require a new interview. This will be ugly
Any details about scale of this? Is this only about some particular part or factory or whole intelligrated all over the globe?
Heard it's a done deal according to someone who was okayed to share it, but no announcement yet. My boss's boss was asking how we knew. I said this site.
I haven’t heard any updates on top of what has been shared across the rumor mill at both Intelligrated and Fortna. If things are happening, it will be shared publicly (i.e. Wall Street) before any internal communication to be compliant with guidelines.