Honeywell to invest in leading Chinese supply chain software provider
December 8, 2017
FORT MILL, SC – Honeywell (NYSE: HON) announced it has signed an agreement to acquire a 25 percent ownership interest in FLUX Information Technology, a leading provider of warehouse management and related supply chain software in China.
Honeywell will also form a new joint venture company with FLUX’s founder to serve customers outside China. Honeywell will hold a 75 percent stake in the new joint venture, which will initially focus on opportunities in the Asia Pacific region. The investment in FLUX is expected to close by the end of the fourth quarter pending Chinese regulatory approvals.
FLUX develops and implements warehouse management systems and other software for customers in multiple industries, and is a leading player in China’s booming e-commerce, apparel, pharmaceutical, retail, third-party logistics, cold chain and manufacturing sectors. FLUX’s supply chain execution solutions include its Warehouse Management System, Transportation Management System, Order Management System and Data Exchange Platform.
FLUX’s offerings complement those of Honeywell Safety and Productivity Solutions, which develops hardware and software that improve productivity, enhance worker safety, and increase accuracy and throughput of supply chains.
Over the past decade, FLUX’s business has grown significantly. Its software now manages more than 12 million square meters of warehouse space in China alone. During China’s Nov. 11 “Singles’ Day” online shopping festival – the largest e-commerce day in the world — FLUX’s solutions helped process up to 650,000 orders per warehouse per day. E-commerce sales currently total more than $1.3 trillion in the Asia Pacific region according to expert estimates, and sales are expected to more than double to $3 trillion by 2021.
FLUX Information Technology is a leading provider of logistics software and solutions in China. It provides supply chain execution solutions including Warehouse Management System (WMS), Transportation Management System (TMS), Order Management System (OMS) and Data Exchange Platform (Datahub) to customers in multiple industries, such as e-commerce, apparel, pharmaceuticals, retail, 3rd party logistics, cold chain and manufacturing.
Honeywell Safety and Productivity Solutions (SPS) provides products, software and connected solutions that improve productivity, workplace safety and asset performance for our customers across the globe. We deliver on this promise through industry-leading mobile devices, software, cloud technology and automation solutions, the broadest range of personal protective equipment and gas detection technology, and custom-engineered sensors, switches and controls. We also manufacture and sell a broad portfolio of footwear for work, play and outdoor activities, including XtraTuf™ and Muck Boot™ brand footwear.
Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.
