Honeywell Group

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Not to be confused with Honeywell, a multinational American conglomerate.
Honeywell Group
Company typePrivate
IndustryConglomerate
Founded1972; 52 years ago (1972)
FounderOba Otudeko
HeadquartersLagos, Lagos State, Nigeria
Products
Services
  • Energy
  • Real Estate
  • Security
  • Hospitality
  • Power
Number of employees
10,000
Subsidiaries
  • Honeywell Flour Mills
  • HOGL Energy Limited
  • Pivot Engineering Company
  • Uraga Real Estate
  • Anchorage Leisures
  • Pavilion Technology
  • Broadview Engineering
  • Hudson Power
  • Uraga Power Solution
  • Honeywell Energy
WebsiteOfficial website

Honeywell Group is a conglomerate based in Nigeria. It operates in diversified businesses such as foods and agriculture, telecommunication and infrastructure, real estate and financial services.[1] The company was founded by Dr. Oba Otudeko, who is the group chairman.[2]

Overview[edit]

Honeywell operates across five main sectors.[3] The Group is diversified along the lines of foods and agro-allied, real estate, infrastructure, energy and services.[4] The conglomerate includes:[5]

  • HOGL Energy Limited
  • Pivot Engineering Company Limited (PECL)
  • Uraga Real Estate Limited
  • Anchorage Leisures Limited
  • Pavilion Technology Limited

History[edit]

Oba Oteudeko started Honeywell Group as a trading enterprise in 1972.[5][6] Initially, the company majored in importation and marketing of commodities between the North and South of Nigeria and later across the West African sub-region, especially Ghana.[7] The company traded baking yeast, stock fish, glass, steel rods and other commodities.[8] The Group has since evolved into a leading Nigerian conglomerate employing over 5000 staff.[9] Gateway Honeywell Flour mills, a food processing company, was registered in 1985.[6] The company later changed its name to Honeywell Flour Mills Plc.[6] It produces flour-based products including baking flour, ball foods, noodles and pasta.[10]

Honeywell Group has also recorded a number of milestones in its almost five decades of operations. Some of these milestones are: listing of Honeywell Flour Mills on the Nigerian Stock Exchange in 2009 after an initial public offering (IPO) in 2008;[11] opening of the first Radisson Blu hotel brand in Nigeria in 2011 (the Radisson Blu Anchorage Hotel in Victoria Island);[12] and launch of the first trampoline park in West Africa, called Upbeat Recreation Centre, Lekki Lagos.[13]

During the Centenary anniversary of Nigeria in 2014, the Federal Government recognised the Honeywell Group among the top 100 companies in the country.[14]

In 2021, Flour Mills of Nigeria acquired 71.6% of Honeywell Flour Mills. [15][16]

Subsidiaries[edit]

The Group is divided into five main sectors; namely, Foods & Agro Allied, Infrastructure, Energy, Real Estate and Services. The Foods & Agro Allied subsidiary is Honeywell Flour Mills Plc (flour-based consumer products) which is listed under the Nigerian Stock Exchange.[17] Under Infrastructure, there are Pivot Engineering Company Limited (an electrical and mechanical engineering contracting firm) and Broadview Engineering Ltd (an EPC contracting company in oil and gas).[18]

In the Energy sector, the Group’s interests include HOGL Energy Limited (an operator in the downstream sector of the oil industry that incorporated in 1995[10]); Hudson Petroleum Limited (representing the upstream oil activities of the Group); Hudson Power Limited (a power generation and distribution company) and Honeywell Energy Resources International Ltd (energy provider). The Honeywell Group with its energy aspect of business partnered with General Electric (GE) in 2013 to boost power generation in Nigeria.[19]

Uraga Real Estates Limited (a property development company)[20] and Anchorage Leisures Limited (a tourism and hospitality promotion outfit) make up the Real Estate sector of the Group. Pavilion Technology Limited is the Group's operating company in the Service sector.[21]

Contributions[edit]

Honeywell contributes to human and economic development through a number of initiatives. It has the Honeywell Baking School programme, which is a vocational training programme in Baking Technology. The programme offers participants skills on modern and more efficient baking methods that will ensure better baked products.[22] Honeywell Group also runs the Honeywell Excellence Programme (HEP). HEP is a platform for young, intelligent Nigerian graduates of tertiary institutions to hone their business management skills by providing them with a comprehensive and robust training in business management principles, over a-12 month period.[23] Recently, Honeywell launched an accelerator programme called 'Itanna'.

[24] Itanna is a social impact investment aimed at facilitating rapid growth of innovative, tech-based start-ups and transform them into strategic enterprises that will further propel economic growth on the African continent.[25] Finally, Honeywell regularly donates gifts, cash and products to orphanages as part of its corporate social responsibility.[26]

Leadership[edit]

Dr. Oba Otudeko has served as chairman since 2012.[27] Previously, he was Group Chairman of FBN Holdings PLC. He studied at Leeds College of Commerce.[27] He also serves on the board for Lagos Sheraton Hotel.[27]

Nino Albert Ozara is the Executive Director and Manufacturing Director of Honeywell Flour Mills Plc.[28]

References[edit]

  1. ^ "Honeywell Group". World Economic Forum. Retrieved 2017-06-10.
  2. ^ "Leadership - Honeywell Group". Honeywell Group. Retrieved 2017-06-10.
  3. ^ Kudaya, Francis (2012). "Business & Management Journal". Dr. Oba Otudeko: The Driving Force of Nigeria's Entrepreneurial Renaissance. Vol. 2, no. 3. Michael Stevens Consulting.
  4. ^ "Honeywell Group: Private Company Information - Bloomberg". bloomberg.com. Retrieved 2017-06-11.
  5. ^ a b "Oba Otudeko: A self-made billionaire entrepreneur". Nairametrics. 2020-08-15. Retrieved 2021-09-22.
  6. ^ a b c Nwachukwu, Ikenna (2018-03-28). "Brands We Love: Honeywell Group • Connect Nigeria". Connect Nigeria. Retrieved 2021-11-07.
  7. ^ Kudaya, Francis (2012). "Business & Management Journal". Dr. Oba Otudeko: The Driving Force of Nigeria's Entrepreneurial Renaissance. Vol. 2, no. 3. Michael Stevens Consulting.
  8. ^ Agekameh, Dele. "Oba Otudeko: Celebrating an Icon". thenationonlineng.net. The Nation. Retrieved 30 July 2019.
  9. ^ Komolafe, Babajide. "Oba Otudeko: Lifetime of Entrepreneurship". vanguardngr.com. Vanguard Newspapers. Retrieved 30 July 2019.
  10. ^ a b "Oba Otudeko: A self-made billionaire entrepreneur". Nairametrics. 2020-08-15. Retrieved 2021-09-09.
  11. ^ Kudaya, Francis (2012). "Business & Management Journal". Dr. Oba Otudeko: The Driving Force of Nigeria's Entrepreneurial Renaissance. Vol. 2, no. 3. Michael Stevens Consulting.
  12. ^ "Radisson Blu Anchorage Hotel opens in Lagos". BivNze's Space. Retrieved 30 July 2019.
  13. ^ Ajomale, Gboyinwa. "First ever West Africa trampoline park opens in Lagos". pulse.ng. Pulse.ng. Retrieved 30 July 2019.
  14. ^ Adeleke, Dr. Wale. "Jonathan hosts CEOs of the Top 100 businesses in Nigeria - Regions". NaijaSky. Retrieved 2017-06-20.
  15. ^ Femi Adekoya (22 November 2021). "FMN, Honeywell Flour Mills merge under N80billion shares transfer deal". The Guardian. Retrieved November 25, 2021.
  16. ^ Nseobong Okon-Ekong; Kayode Tokede (November 23, 2021). "Honeywell Group Agrees N80bn Deal with Flour Mills of Nigeria". The Nation. Retrieved November 25, 2021.
  17. ^ "HONYFLOUR:Lagos Stock Quote - Honeywell Flour Mill PLC". Bloomberg.com. Retrieved 2017-06-20.
  18. ^ (http://www.hydrant.co.uk), Site designed and built by Hydrant (2012-11-08). "OBG talks to Oba Otudeko, Chairman, Honeywell Group". Oxford Business Group. Retrieved 2017-06-11.
  19. ^ Gupta, Kasturi. "Honeywell and GE to build 150MW power plant in Nigeria". African Review (in Polish). Retrieved 2017-06-11.
  20. ^ "Uraga Real Estate Company Profile | Matchdeck". matchdeck.com. Retrieved 2018-03-09.
  21. ^ "Oba Otudeko: Lifetime of Entrepreneurship". Vanguard News. 2018-01-01. Retrieved 2019-06-14.
  22. ^ "Honeywell graduates 14 master bakers". Punch Newspapers. Retrieved 2019-06-14.
  23. ^ "Growing Capacity Through Training". ThisDay. 2015.
  24. ^ Ojekunle, Aderemi. "Honeywell Group launches Itanna, an accelerator program for tech startups in Nigeria". Business Insider by Pulse.
  25. ^ "Honeywell Group launches Lagos-based Itanna accelerator and investment vehicle". Ventureburn. 2018-08-07. Retrieved 2019-06-14.
  26. ^ "Honeywell Restates Commitment to CSR, Donates to Orphanages". ThisDay. 2019-05-31. Retrieved 2019-06-14.
  27. ^ a b c "Ayoola Oba Otudeko, Honeywell Flour Mill PLC: Profile and Biography". www.bloomberg.com. Retrieved 2021-09-03.
  28. ^ "HONYFLOUR.NG | Honeywell Flour Mills PLC Company Profile & Executives - WSJ". www.wsj.com. Retrieved 2021-09-03.
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