Honeywell 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. Honeywell operates four business segments: Aerospace, Automation and Control Solutions, Performance Materials and Technologies, and Transportation Systems. In July 2014, the Company announced that it has completed the sale of its Friction Materials (FM) business to Federal-Mogul.