Honeywell to Rebrand Turbo Unit as Garrett

Honeywell International Inc. will rename its turbocharger business as Garrett when it spins off the unit later this year.

The company said last October that it aimed to turn its Honeywell Transportation Systems operations into a publicly listed company before the end of 2018. The unit employs 6,500 people and generates annual revenue of about $3 billion.

Honeywell already uses Garrett to brand its aftermarket turbochargers for passenger and commercial vehicles. The name refers to engineer Cliff Garrett, who led the development of a turbocharger system for Caterpillar tractors in the early 1950s.