| Honeywell Automation India Ltd (HAIL) is a market leader in Electronics-Instrumentation and Process Control Equipment industry. HAIL is leading provider of integrated automation and software solution that improves productivity enhancing comfort and ensuring the safety and security to homes and business premises. The Company's main products are distributed control systems, building control systems and smart transmitters. The Company is engaged primarily in the business of Automation & Control systems on turnkey basis and otherwise.
HAIL incorporated in January 13th, 1984 as Tata Process Controls Private Ltd in Maharashtra. The Company became as a Public Limited Company in May 1987. Initially, the Company promoted by Tata Group. Thereafter it was promoted as a 40:40 Joint Venture Company between Tata Group and Honeywell Asia Pacific Inc, USA. In 2004, Tata Group sold its share holding 40.62 per cent in favor of its foreign joint venture partner. Now Honeywell Asia Pacific Inc, holds 81.24 per cent of Equity Shares of the Company.
Honeywell has set up an impressive 36,000 square feet state-of-the-art manufacturing, design and engineering facilities in the industrial city of Pune in 1988. It is equipped with system integrated services, testing facilities, systems assembly & staging centre, printed wiring assembly manufacturing facility and a smart technology centre.
In March 1993, the company came out with a Right Issue of 2080000 equity shares at a premium of Rs. 25 per share, aggregating Rs. 7.28 crores to part finance normal capital expenditure and long term working capital requirements, totaling Rs. 13.8 crores. The issue was fully subscribed. The allotment of the equity was made in May, 1993.
In 1993-94, the company was awarded the prestigious ISO 9001 certificate. The certification covers the entire of its operations, from design to production, installation, commissioning, and extends into service support functions. The company was the first one and only company in India in the field of Industrial Automation and Control to be awarded this certification.
The company has diversified its operations. It has also setup Software Technology Park (STP) in Pune and are now well established. In 1998-99 the STP operations are expanded at Chennai.
In 2003, the Company's GPS Manufacturing was certified by the DRDO, the premier defense research organization in India. HAIL is also the first automation company in India to have received a double certification of ISO 14001 and OHSAS 18001. It reflects company's commitment towards quality services to its customer.
In 2003-04, Honeywell decided to expand its existing facility to accommodate additional 300 people. It started to construct a new building in the existing premises. A state of the art Experion (new control system) testing centre will be housed in this building.
During the year 2005, Honeywell completed construction of new building, which has provided additional seating space for 425 people and also provides space for the test labs. The company has also set up a new Electronic Hardware Technology Park (EHTP), to facilitate manufacturing and export of Electronic Systems. It launched a new business called Honeywell Security Group (HSG) in 2005, which offers various Electronic security products and systems through a network of channel partners.
In 2006, Honeywell made major capital investment to expand manufacturing and office space.
During year 2019, Honeywell Asia Pacific Inc. (HAPI) was merged into HAIL Mauritius Limited, resulting in change in the immediate promoter of the Company, and an inter-se transfer of 6,631,142 equity shares aggregating to 75% of the shareholding in the Company, from HAPI to HAIL Mauritius. |