Honeywell International Inc. announced that Tim Mahoney has been named President and CEO of its $11 billion Aerospace business, effective immediately. Mahoney will report to Honeywell's Chairman and CEO Dave Cote. Mahoney succeeds Rob Gillette who is leaving Honeywell to become CEO of First Solar Inc. Mahoney was most recently Chief Technology Officer (CTO) at Honeywell Aerospace with a $2 billion research and development budget and leading more than 10,000 engineers. In that capacity, Mahoney had global responsibilities for new product development and research, leading projects with key customers such as Airbus, Boeing and Gulfstream. The company named Kevin Moriarty as Vice President and CFO for Honeywell Aerospace, succeeding Bob Hau who has accepted the CFO role at Lennox International. Moriarty, who was previously Vice President and CFO of Honeywell Specialty Materials, will be replaced by Paul Vasington, who was Vice President and CFO for Honeywell Security and Data Collection. Bob Smith, Vice President, Advanced Technologies, will replace Mahoney as CTO of Honeywell Aerospace.

Honeywell Aerospace reported unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported profit of $454 million on net sales of $2,719 million against profit of $602 million on net sales of $3,281 million for the same period a year ago. Sales were down 17%, compared with the second quarter of 2008, resulting from lower volumes in Commercial Aerospace, particularly Business Aviation, and the unfavorable impact of divestitures. Excluding the net impact of acquisitions and divestitures, sales were down 14%. Profit declined 25%, due to lower sales volumes partially offset by increased net productivity. For the six months, the company reported profit of $942 million on net sales of $5,478 million against profit of $1,165 million on net sales of $6,311 million for the same period a year ago.

Nano-Terra LLC announced a partnership with Honeywell Aerospace to develop functional surfaces for a variety of aerospace applications. Under the long-term agreement, the companies will work together to utilize Nano Terra's surface engineering technology to develop the fabrication of thin films for certain military and commercial aerospace applications designed specifically to enhance performance. This relationship will combine Honeywell's aerospace technology and systems integration expertise with Nano Terra science, which enables the efficient functionalization of surfaces.