Honeywell International, Inc. (NYSE: HON) is a major conglomerate company that produces a variety of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments.
Honeywell is a Fortune 100 company with a workforce of approximately 130,000, of which approximately 58,000 are employed in the United States.[2] The company is headquartered in Morristown, New Jersey. Its current chief executive officer is David M. Cote. The company and its corporate predecessors were part of the Dow Jones Industrial Average Index from December 7, 1925 until February 9, 2008.
The current "Honeywell International Inc." is the product of a merger in which Honeywell Inc. was acquired by the much larger AlliedSignal in 1999. The company headquarters were consolidated to AlliedSignal's headquarters in Morristown, New Jersey; however the combined company chose the name "Honeywell" because of its superior brand recognition.
Honeywell has many brands that consumers may recognize. Some of the most recognizable products are its line of home thermostats (particularly the iconic round type), Garrett turbochargers, and automotive products sold under the names of Prestone, Fram, and Autolite.
Honeywell International Inc. (Honeywell), incorporated in 1985, is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. The Company operates in four business segments: Aerospace, Automation and Control Solutions, Specialty Materials and Transportation Systems. In May 2010, the Company acquired Akuacom, an automated demand response technology and services for the smart grid. The Akuacom Demand Response Automation Server provides utilities and independent system operators (ISOs) two way communication with energy management systems at commercial and industrial sites. In June 2010, Honeywell acquired Matrikon Inc. On July 21, 2010, the Company acquired E-Mon, LLC, a portfolio company of Branford Castle, Inc. In October 2010, the Company acquired Sperian Protection (Sperian).
Aerospace
The Company’s Aerospace segment is a global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, and space and airport operations. The products/services classes manufactured by the Company include turbine propulsion engines, auxiliary power units (APUs), environmental control systems, electric power systems, engine systems accessories, avionics systems, aircraft lighting, inertial sensor, control products, space products and sub systems, management and technical services, and landing systems.
The Company competes with United Technologies, Rolls Royce/Allison, Turbomeca, Williams, Auxilec, Barber Colman, Dukes, Eaton-Vickers, General Electric, Goodrich, Liebherr, Pacific Scientific, Parker Hannifin, TAT, Safran, BAE, Boeing/Jeppesen, Garmin, Kaiser, L3, Lockheed Martin, Northrop Grumman, Rockwell Collins, Thales, Trimble/Terra, Universal Avionics, Universal Weather, Bruce, Hella, LSI, Luminator, Siemens, Whelen, Astronautics-Kearfott, Ball, GEC, L3 Com, KVH, Rockwell, Rosemount, Solarton, Ithaco, Raytheon, Bechtel, Boeing, Computer Sciences, Dyncorp, ITT, SAIC, The Washington Group, United Space Alliance, Dunlop Standard Aerospace, K&F Industries, Messier-Bugatti and NASCO.
Automation and Control Solutions
The Automation and Control Solutions segment is a global provider of environmental and combustion controls, sensing controls, security and life safety products and services, scanning and mobility devices and process automation and building solutions and services for homes, buildings and industrial facilities. Approximately 2% of total 2010 sales of Automation and Control Solutions products and services were exports of United States manufactured products.
The Company competes with Bosch, Cherry, Danfoss, Eaton, Emerson, Endress & Hauser, Holmes, Invensys, Johnson Controls, Motorola Solution, Schneider, Siemens, United Technologies, Yamatake, Draeger, GE, Hubbell Inc, Mine Safety Appliances, Pelco, Phillips, Riken Keiki, Siemens Tyco, 3M, Datalogic, Intermec Technologies, ABB, AspenTech, Emerson, Freescale Semiconductor, Omron, Yokogawa, Ameresco, GroupMac, Ingersoll Rand, Johnson Controls, Safegate, Trane and Thorn.
Specialty Materials
The Company’s Specialty Materials segment is engaged in providing customers with specialty materials, including hydrocarbon processing technologies, catalysts, adsorbents, equipment and services, fluorine products, specialty films and additives, advanced fibers and composites, intermediates, specialty chemicals, electronic materials and chemicals. The products/services classes of the Company in this segment include resins and chemicals, hydrofluoric acid (HF), fluorocarbons, fluorine specialties, nuclear services, research and fine chemicals, performance chemicals, imaging chemicals, chemicals processing sealants, advanced fibers and composites, specialty films, specialty additives, electronic chemicals, semiconductor materials and services, catalysts, adsorbents and specialties, process technology and equipment, and renewable fuels and chemicals.
The Company competes with BASF, DSM, UBE, Sinopec, Mexichem Flour, Solvay, Arkema, Dupont, Ineos, Air Products, Asahi Glass, LiMing, Comeco, Comurhex, Rosatom, Avecia, Degussa, E. Merck, Thermo Fisher Scientific, Lonza, Sigma-Aldrich, Atotech, Teijin, American Biaxis, CFP, Daikin, Kolon, Unitika, Clairant, Eastman, KMG, WR Grace, Haldor, General Chemical, Nikko, Praxair, Tosch, Brewer, Kyocera, Shinko, Axens, BP/Amoco, Exxon-Mobil, Chevron Lummus Global, Chicago Bridge & Iron, Koch Glitsch, Linde AG, Natco, Shaw Group, Shell/SGS, Neste Oy, Lurgi, Syntroleum and Dynamotive.
Transportation Systems
The Transportation Systems segment is engaged in the manufacturing of engine boosting systems for the passenger cars and commercial vehicles. The Company is also a provider of automotive care and braking products. The products/service classes of the segment of the Company include charge-air systems, thermal systems, aftermarket filters, spark plugs, electronic components, car care products, brake hard parts, and other friction materials.
The Company competes with Borg-Warner, Holset, IHI, MHI, Behr, Modine, Valeo, AC Delco, Bosch, Champion, Mann & Hummel, NGK, Peak/Old World Industries, Purolator, STP/ArmorAll, Turtle Wax, Zerex/Volvoline, Advics, Akebono, Continental, Federal-Mogul, ITT Corp, JBI, Nisshinbo, TRW and TMD Friction.
The early part of the 21st century brought troubles to Honeywell when the European Commission rejected General Electric's purchase of Honeywell. The purchase would have been a real boon to Honeywell; but the failed merger caused the company morale problems, initiated a tumble in stock price, and cost CEO Michael Bonsignore his job. The company subsequently split into four operating segments and earnings plunged 92 percent. The European Union (EU) had rejected the merger fearing the company would have too much power in the aircraft industry. Honeywell in turn appealed the rejection, not to overturn the ruling so much as to ensure that they would not be held accountable for any potential findings of abuse of power by the EU.
Despite the setback the company was quick to rebound and move forward with grace. Though the GE buyout failure was a real blow, Honeywell used the experience to strengthen its core businesses. CEO Bonsignore was replaced by veteran AlliedSignal executive Larry Bossidy. Honeywell continued to roll out new products, including its 900-series jet engines. The company started an aggressive acquisition strategy with the goal to increase revenues to $12-13 billion (a few billions' increase). They divested small, underperforming operations, reduced the number of suppliers, and streamlined operations in small ways elsewhere. On the public relations front, Honeywell executives worked to boost morale, retain their best managers, make it clear that the company was not for sale, and assure their customers that, in the words of President and CEO Robert Johnson, "all that merger stuff is behind us."
Results were promising. Honeywell continued to win 86 percent of its contract bids, sales were ahead of budget, and the rate of turnover among middle and senior managers were not significantly greater than the same period a year prior. Customer satisfaction was also up. By making some changes after the GE fiasco, the company actually had learned some tough lessons.
Honeywell Continues Worldwide Presence and Future Growth
Thermostats are still a major part of Honeywell's business; today home and commercial accounts together make up a quarter of Honeywell sales. In the commercial arena, Honeywell designs computerized control systems that regulate heat and electricity flow for large buildings, and also manufactures its own switches, electronic parts, and motors for these systems. The company has also ventured into "smart" buildings that regulate themselves with packages that can link together a building's phone lines, control devices, and information systems.
When David M. Cote took over as Chairman and CEO in 2002, global operations and company growth were continuing to thrive at Honeywell. By 2002 the company had customers and products in more than 95 countries and employed 43,000 people worldwide. Its footprint included the Asian Pacific, Europe, Middle East, Africa, and Latin American regions, and incorporated all aspects of the Honeywell business--manufacturing, aerospace, control technologies, turbocharging systems, chemical, power generation, electronics, and others. On the home front, Honeywell worked with the Federal Aviation Administration on air safety initiatives in the wake of the September 11, 2001, terrorist attacks. For the near future, the company also outlined commitments to employee learning and satisfaction, superior customer service and product quality, and desires to continue building up the businesses.
Principal Subsidiaries:Honeywell Aerospace; Honeywell Automation & Control; Honeywell Industrial Control; Honeywell Mesurex Corp.; Honeywell Transportation & Power; Honeywell Consumer Products; Honeywell Sensing and Control; Honeywell DMC SVC Inc., Honeywell Friction Materials; Honeywell Federal Systems Inc.; Honeywell Finance Inc.; Honeywell Asia Pacific Inc. (Hong Kong); Honeywell Ltd. (Canada); Honeywell Europe S.A.; Tata Honeywell Ltd. (India, 50%); GoldStar-Honeywell Co., Ltd. (South Korea, 50%).
Principal Competitors:Eaton; General Electric; Pratt & Whitney.
OVERALL
Beta: 1.34
Market Cap (Mil.): $47,968.16
Shares Outstanding (Mil.): 787.01
Annual Dividend: 1.33
Yield (%): 2.18
FINANCIALS
HON Industry Sector
P/E (TTM): 21.28 23.04 16.98
EPS (TTM): 31.65 -- --
ROI: 8.67 4.97 3.28
ROE: 21.65 16.94 5.91
Statistics:
Public Company
Incorporated: 1927 as Minneapolis-Honeywell Regulator Co.
Employees: 115,000 (2001)
Sales: $23.65 billion (2001)
Stock Exchanges: New York London Paris Amsterdam Brussels Geneva Zurich Basel
Ticker Symbol: HON
NAIC: 334512 Automatic Environmental Control Manu- facturing for Residential, Commercial, and Appliance Use; 334511 Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing; 334513 Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables; 334290 Other Communications Equipment Manufacturing
Key Dates:
1883: Damper Flapper is created by Albert Butz.
1909: First controlled thermostat is created.
1927: Company incorporated as Minneapolis-Honeywell Regulator Company.
1941: Honeywell becomes a major defense contractor during WWII.
1950-1959: Honeywell's advancements in microswitches lead the company to enter the computer market.
1967: The computer division shows a profit for the first time.
1988: The company focuses on its aerospace divisions to boost company profits.
1999: AlliedSignal and Honeywell merge.
2000: Honeywell's acquisition by General Electric is rejected by the European Union.
Name Age Since Current Position
Cote, David 58 2002 Chairman of the Board, Chief Executive Officer
Anderson, David 61 2003 Chief Financial Officer, Senior Vice President
Fradin, Roger 57 2004 President and Chief Executive Officer - Automation and Control Solutions
Kramvis, Andreas 58 2008 President and Chief Executive Officer - Specialty Materials
Ismail, Alexandre 45 2009 President and Chief Executive Officer - Transportation Systems
Mahoney, Timothy 54 2009 President and Chief Executive Officer - Aerospace
Adams, Katherine 46 2009 Senior Vice President, General Counsel
James, Mark 49 2007 Senior Vice President - Human Resources and Communications
Mikkilineni, Krishna 51 2010 Senior Vice President - Engineering and Operations
Bethune, Gordon 69 1999 Independent Director
Chico Pardo, Jaime 61 1999 Independent Director
Hollick, Clive 65 2003 Independent Director
Sheares, Bradley 54 2004 Independent Director
Davis, D. Scott 59 2005 Independent Director
Deily, Linnet 65 2006 Independent Director
Paz, George 55 2008 Independent Director
Burke, Kevin 60 2010 Independent Director
Address:
Honeywell Plaza
101 Columbia Road
P.O. Box 4000
Morristown, New Jersey 07962-2497
U.S.A.
Honeywell is a Fortune 100 company with a workforce of approximately 130,000, of which approximately 58,000 are employed in the United States.[2] The company is headquartered in Morristown, New Jersey. Its current chief executive officer is David M. Cote. The company and its corporate predecessors were part of the Dow Jones Industrial Average Index from December 7, 1925 until February 9, 2008.
The current "Honeywell International Inc." is the product of a merger in which Honeywell Inc. was acquired by the much larger AlliedSignal in 1999. The company headquarters were consolidated to AlliedSignal's headquarters in Morristown, New Jersey; however the combined company chose the name "Honeywell" because of its superior brand recognition.
Honeywell has many brands that consumers may recognize. Some of the most recognizable products are its line of home thermostats (particularly the iconic round type), Garrett turbochargers, and automotive products sold under the names of Prestone, Fram, and Autolite.
Honeywell International Inc. (Honeywell), incorporated in 1985, is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. The Company operates in four business segments: Aerospace, Automation and Control Solutions, Specialty Materials and Transportation Systems. In May 2010, the Company acquired Akuacom, an automated demand response technology and services for the smart grid. The Akuacom Demand Response Automation Server provides utilities and independent system operators (ISOs) two way communication with energy management systems at commercial and industrial sites. In June 2010, Honeywell acquired Matrikon Inc. On July 21, 2010, the Company acquired E-Mon, LLC, a portfolio company of Branford Castle, Inc. In October 2010, the Company acquired Sperian Protection (Sperian).
Aerospace
The Company’s Aerospace segment is a global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, and space and airport operations. The products/services classes manufactured by the Company include turbine propulsion engines, auxiliary power units (APUs), environmental control systems, electric power systems, engine systems accessories, avionics systems, aircraft lighting, inertial sensor, control products, space products and sub systems, management and technical services, and landing systems.
The Company competes with United Technologies, Rolls Royce/Allison, Turbomeca, Williams, Auxilec, Barber Colman, Dukes, Eaton-Vickers, General Electric, Goodrich, Liebherr, Pacific Scientific, Parker Hannifin, TAT, Safran, BAE, Boeing/Jeppesen, Garmin, Kaiser, L3, Lockheed Martin, Northrop Grumman, Rockwell Collins, Thales, Trimble/Terra, Universal Avionics, Universal Weather, Bruce, Hella, LSI, Luminator, Siemens, Whelen, Astronautics-Kearfott, Ball, GEC, L3 Com, KVH, Rockwell, Rosemount, Solarton, Ithaco, Raytheon, Bechtel, Boeing, Computer Sciences, Dyncorp, ITT, SAIC, The Washington Group, United Space Alliance, Dunlop Standard Aerospace, K&F Industries, Messier-Bugatti and NASCO.
Automation and Control Solutions
The Automation and Control Solutions segment is a global provider of environmental and combustion controls, sensing controls, security and life safety products and services, scanning and mobility devices and process automation and building solutions and services for homes, buildings and industrial facilities. Approximately 2% of total 2010 sales of Automation and Control Solutions products and services were exports of United States manufactured products.
The Company competes with Bosch, Cherry, Danfoss, Eaton, Emerson, Endress & Hauser, Holmes, Invensys, Johnson Controls, Motorola Solution, Schneider, Siemens, United Technologies, Yamatake, Draeger, GE, Hubbell Inc, Mine Safety Appliances, Pelco, Phillips, Riken Keiki, Siemens Tyco, 3M, Datalogic, Intermec Technologies, ABB, AspenTech, Emerson, Freescale Semiconductor, Omron, Yokogawa, Ameresco, GroupMac, Ingersoll Rand, Johnson Controls, Safegate, Trane and Thorn.
Specialty Materials
The Company’s Specialty Materials segment is engaged in providing customers with specialty materials, including hydrocarbon processing technologies, catalysts, adsorbents, equipment and services, fluorine products, specialty films and additives, advanced fibers and composites, intermediates, specialty chemicals, electronic materials and chemicals. The products/services classes of the Company in this segment include resins and chemicals, hydrofluoric acid (HF), fluorocarbons, fluorine specialties, nuclear services, research and fine chemicals, performance chemicals, imaging chemicals, chemicals processing sealants, advanced fibers and composites, specialty films, specialty additives, electronic chemicals, semiconductor materials and services, catalysts, adsorbents and specialties, process technology and equipment, and renewable fuels and chemicals.
The Company competes with BASF, DSM, UBE, Sinopec, Mexichem Flour, Solvay, Arkema, Dupont, Ineos, Air Products, Asahi Glass, LiMing, Comeco, Comurhex, Rosatom, Avecia, Degussa, E. Merck, Thermo Fisher Scientific, Lonza, Sigma-Aldrich, Atotech, Teijin, American Biaxis, CFP, Daikin, Kolon, Unitika, Clairant, Eastman, KMG, WR Grace, Haldor, General Chemical, Nikko, Praxair, Tosch, Brewer, Kyocera, Shinko, Axens, BP/Amoco, Exxon-Mobil, Chevron Lummus Global, Chicago Bridge & Iron, Koch Glitsch, Linde AG, Natco, Shaw Group, Shell/SGS, Neste Oy, Lurgi, Syntroleum and Dynamotive.
Transportation Systems
The Transportation Systems segment is engaged in the manufacturing of engine boosting systems for the passenger cars and commercial vehicles. The Company is also a provider of automotive care and braking products. The products/service classes of the segment of the Company include charge-air systems, thermal systems, aftermarket filters, spark plugs, electronic components, car care products, brake hard parts, and other friction materials.
The Company competes with Borg-Warner, Holset, IHI, MHI, Behr, Modine, Valeo, AC Delco, Bosch, Champion, Mann & Hummel, NGK, Peak/Old World Industries, Purolator, STP/ArmorAll, Turtle Wax, Zerex/Volvoline, Advics, Akebono, Continental, Federal-Mogul, ITT Corp, JBI, Nisshinbo, TRW and TMD Friction.
The early part of the 21st century brought troubles to Honeywell when the European Commission rejected General Electric's purchase of Honeywell. The purchase would have been a real boon to Honeywell; but the failed merger caused the company morale problems, initiated a tumble in stock price, and cost CEO Michael Bonsignore his job. The company subsequently split into four operating segments and earnings plunged 92 percent. The European Union (EU) had rejected the merger fearing the company would have too much power in the aircraft industry. Honeywell in turn appealed the rejection, not to overturn the ruling so much as to ensure that they would not be held accountable for any potential findings of abuse of power by the EU.
Despite the setback the company was quick to rebound and move forward with grace. Though the GE buyout failure was a real blow, Honeywell used the experience to strengthen its core businesses. CEO Bonsignore was replaced by veteran AlliedSignal executive Larry Bossidy. Honeywell continued to roll out new products, including its 900-series jet engines. The company started an aggressive acquisition strategy with the goal to increase revenues to $12-13 billion (a few billions' increase). They divested small, underperforming operations, reduced the number of suppliers, and streamlined operations in small ways elsewhere. On the public relations front, Honeywell executives worked to boost morale, retain their best managers, make it clear that the company was not for sale, and assure their customers that, in the words of President and CEO Robert Johnson, "all that merger stuff is behind us."
Results were promising. Honeywell continued to win 86 percent of its contract bids, sales were ahead of budget, and the rate of turnover among middle and senior managers were not significantly greater than the same period a year prior. Customer satisfaction was also up. By making some changes after the GE fiasco, the company actually had learned some tough lessons.
Honeywell Continues Worldwide Presence and Future Growth
Thermostats are still a major part of Honeywell's business; today home and commercial accounts together make up a quarter of Honeywell sales. In the commercial arena, Honeywell designs computerized control systems that regulate heat and electricity flow for large buildings, and also manufactures its own switches, electronic parts, and motors for these systems. The company has also ventured into "smart" buildings that regulate themselves with packages that can link together a building's phone lines, control devices, and information systems.
When David M. Cote took over as Chairman and CEO in 2002, global operations and company growth were continuing to thrive at Honeywell. By 2002 the company had customers and products in more than 95 countries and employed 43,000 people worldwide. Its footprint included the Asian Pacific, Europe, Middle East, Africa, and Latin American regions, and incorporated all aspects of the Honeywell business--manufacturing, aerospace, control technologies, turbocharging systems, chemical, power generation, electronics, and others. On the home front, Honeywell worked with the Federal Aviation Administration on air safety initiatives in the wake of the September 11, 2001, terrorist attacks. For the near future, the company also outlined commitments to employee learning and satisfaction, superior customer service and product quality, and desires to continue building up the businesses.
Principal Subsidiaries:Honeywell Aerospace; Honeywell Automation & Control; Honeywell Industrial Control; Honeywell Mesurex Corp.; Honeywell Transportation & Power; Honeywell Consumer Products; Honeywell Sensing and Control; Honeywell DMC SVC Inc., Honeywell Friction Materials; Honeywell Federal Systems Inc.; Honeywell Finance Inc.; Honeywell Asia Pacific Inc. (Hong Kong); Honeywell Ltd. (Canada); Honeywell Europe S.A.; Tata Honeywell Ltd. (India, 50%); GoldStar-Honeywell Co., Ltd. (South Korea, 50%).
Principal Competitors:Eaton; General Electric; Pratt & Whitney.
OVERALL
Beta: 1.34
Market Cap (Mil.): $47,968.16
Shares Outstanding (Mil.): 787.01
Annual Dividend: 1.33
Yield (%): 2.18
FINANCIALS
HON Industry Sector
P/E (TTM): 21.28 23.04 16.98
EPS (TTM): 31.65 -- --
ROI: 8.67 4.97 3.28
ROE: 21.65 16.94 5.91
Statistics:
Public Company
Incorporated: 1927 as Minneapolis-Honeywell Regulator Co.
Employees: 115,000 (2001)
Sales: $23.65 billion (2001)
Stock Exchanges: New York London Paris Amsterdam Brussels Geneva Zurich Basel
Ticker Symbol: HON
NAIC: 334512 Automatic Environmental Control Manu- facturing for Residential, Commercial, and Appliance Use; 334511 Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing; 334513 Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables; 334290 Other Communications Equipment Manufacturing
Key Dates:
1883: Damper Flapper is created by Albert Butz.
1909: First controlled thermostat is created.
1927: Company incorporated as Minneapolis-Honeywell Regulator Company.
1941: Honeywell becomes a major defense contractor during WWII.
1950-1959: Honeywell's advancements in microswitches lead the company to enter the computer market.
1967: The computer division shows a profit for the first time.
1988: The company focuses on its aerospace divisions to boost company profits.
1999: AlliedSignal and Honeywell merge.
2000: Honeywell's acquisition by General Electric is rejected by the European Union.
Name Age Since Current Position
Cote, David 58 2002 Chairman of the Board, Chief Executive Officer
Anderson, David 61 2003 Chief Financial Officer, Senior Vice President
Fradin, Roger 57 2004 President and Chief Executive Officer - Automation and Control Solutions
Kramvis, Andreas 58 2008 President and Chief Executive Officer - Specialty Materials
Ismail, Alexandre 45 2009 President and Chief Executive Officer - Transportation Systems
Mahoney, Timothy 54 2009 President and Chief Executive Officer - Aerospace
Adams, Katherine 46 2009 Senior Vice President, General Counsel
James, Mark 49 2007 Senior Vice President - Human Resources and Communications
Mikkilineni, Krishna 51 2010 Senior Vice President - Engineering and Operations
Bethune, Gordon 69 1999 Independent Director
Chico Pardo, Jaime 61 1999 Independent Director
Hollick, Clive 65 2003 Independent Director
Sheares, Bradley 54 2004 Independent Director
Davis, D. Scott 59 2005 Independent Director
Deily, Linnet 65 2006 Independent Director
Paz, George 55 2008 Independent Director
Burke, Kevin 60 2010 Independent Director
Address:
Honeywell Plaza
101 Columbia Road
P.O. Box 4000
Morristown, New Jersey 07962-2497
U.S.A.