The collaboration will merge Honeywell’s industrial data from its Forge platform with Google Cloud’s advanced AI technology, creating solutions to enhance autonomous operations for companies across multiple industries.

Scheduled to launch in 2025, these AI-driven solutions will provide businesses with benefits such as reducing maintenance expenses, increasing productivity, and enabling employee development. 

Honeywell’s expertise in industrial processes combined with Google Cloud’s AI capabilities promises to bring changing insights to enterprises, enabling them to simplify operations and make informed decisions with ease.

Vimal Kapur, CEO of Honeywell, explained that the partnership with Google Cloud will allow industries to bridge physical and digital operations effectively. 

According to Kapur, this collaboration will help companies optimise asset performance, improve workforce efficiency, and refine operational processes.

Thomas Kurian, CEO of Google Cloud, also spoke on the importance of this partnership, speaking on the role of AI in unlocking new opportunities for industrial innovation. 

Integrating Honeywell’s data expertise with Google’s cutting-edge AI technologies will enable industrial organisations to be better prepared to address operational challenges and maximise their overall output.

One of the immediate applications will include AI-powered agents tailored to the specific needs of engineers and technicians, enabling faster problem resolution and reduced project timelines. 

These tools will allow users to handle data from various sources, such as images, videos, and sensor readings, which are critical for industrial maintenance and design tasks. 

Again, the collaboration will enhance cybersecurity measures by incorporating Google Threat Intelligence into Honeywell’s existing security platforms to protect industrial infrastructures.

This venture follows the industrial sector’s issues with labour shortages, particularly as the baby boomer generation retires. 

The AI tools developed through this partnership are expected to help mitigate these challenges by enhancing workforce capabilities without replacing jobs. 

Honeywell’s recent report also reveals that while many companies have started exploring AI, only a small percentage have fully implemented these technologies, signalling the need for effective AI adoption in the sector.

In the meantime, both companies aim to explore further advancements in edge computing, with the possibility of more intelligent devices that can function independently of cloud-based systems. 

Honeywell’s focus on innovation, alongside Google Cloud’s expertise in AI, will ensure this partnership boosts resilience in industrial automation.

Honeywell has a longstanding history in industrial solutions, while Google Cloud continues to expand its AI services across various sectors, making this collaboration a promising venture for future advancements in autonomous operations.

The Supreme Court dismissed an appeal by Honeywell Flour Mills Limited challenging the judgement of the Court of Appeal in the debt dispute with Ecobank Nigeria Limited.

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The five-member panel of the Supreme Court, led by Tijjani Abubakar, delivered the judgement that Honeywell, Anchorage, and Siloam were indeed indebted to Ecobank. In the lead judgement delivered by Emmanuel Agim, the Supreme Court declared the verdict of the Court of Appeal, which said Honeywell and its sister companies are still indebted to Ecobank.

“I affirm the judgment of the Court of Appeal, setting aside the decision of the Federal High Court, granting the reliefs claimed for by the appellants (Honeywell). “I hold that the appellants’ claim at the trial court fails and it is hereby dismissed. “The appellants shall pay the cost of N1 million to the respondent (Ecobank),” Agim said.

By the instant judgment of the apex court confirming the indebtedness of the named customers to the Bank, the Bank can now proceed to recover from the debtor-customers the total outstanding debt of N5.5Billion including all the accrued interest from 2015.

In the wake of the legal tussle, Dr Oba Otudeko, Honeywell Group chairman, had told a Court of Appeal that the sum was owed by individual companies.

These companies include Anchorage Leisures Limited, Siloam Limited, and Honeywell Flour Mills Plc.

Otudeko maintained that his companies had paid N3.5 billion as of December 12, 2013, as the full and final payment for the N5.5 billion debt as agreed by the parties at a July 22, 2013, meeting. With the latest Supreme Court judgement, the companies remain indebted to the Bank.

Background

On 6 August 2015, Honeywell, and its sister firms, Anchorage Leisures Ltd and Siloam Global Ltd, sued Ecobank before the Federal High Court in Lagos over repayments of a N5.5 billion debt. In the suit, the companies urged the Federal High Court in Lagos to declare that “having paid the sum of N3.5 billion in cumulative settlement of their total outstanding indebtedness” (of N5.5 billion) to Ecobank, “they owned no further debt obligation” to Ecobank “arising from their banker-customer relationships.”

As a result, they also asked the court to hold that Ecobank “was obligated to issue letters of discharge, release collaterals by which the prior indebtedness was secured.” In addition, Honeywell and its sister companies begged the court to compel Ecobank to “update” their status on the “Credit Risk Management System Portal of the Central Bank of Nigeria.”

But in its defence, Ecobank argued that an agreement was reached between it, Honeywell, Anchorage and Siloam on 22 July 2013, “for a definite settlement of N3.5 billion to be paid in terms of N500 million immediately and the balance of N3 billion before the exit of the CBN examiners from” Ecobank’s offices. Ecobank had contended that the repayment agreement period was for six months as it rejected Honeywell and its sister companies’ request to “pay the balance over a one-and-half-year period in three equal half-yearly instalments.”

The bank informed the court that the debt repayment agreement “lapsed in August 2013.” But in its judgement, the judge, Ayokunle Faji of the Federal High Court, upheld the arguments of the Honeywell Group and granted their prayers. Dissatisfied with the verdict, Ecobank in 2015, approached the Court of Appeal. In its decision, the appellate court overturned the judgement of the Federal High Court, setting the stage for the Supreme Court’s appeal which was resolved in favour of the Bank.

The company is delighted to announce that Suhail Jiwani has been promoted to Chief Technology Officer; Sheena Chandra has been appointed Chief Strategy and Business Development Officer; and Citalouise Geiggar has been appointed Vice President of Marketing.

The strategic appointments represent a key element of Kevin’s strategy to capitalize on the momentum to serve and broaden its customer base.

The senior appointments aim to advance Kelvin’s position in the market and enable it to continue partnering with global enterprises to solve unique industrial customer challenges by allowing companies to connect, create, and scale control applications across their operations, with market-leading solutions including  Kelvin Carbon Maps and Kelvin Copilots.

“The right talent is vital to Kelvin’s success, so it gives me great pleasure to welcome Suhail, Sheena, and Citalouise to Kelvin’s executive leadership team. With their years of extensive experience and vast achievements in prior roles, they are well-proven appointments that give us the ability to build further on the impressive momentum we’ve built with Kelvin over the last few years. Together, the expansion of our team boasts diverse and strong expertise that will thrust Kelvin into the next phase of its global growth,” said Peter Harding, Founder & CEO of Kelvin.

“We look forward to working with global enterprises and delivering industrial intelligence via our market-leading collaborative control solutions. Our solutions have proven themselves across energy and manufacturing sectors, empowering businesses to achieve their net-zero goals, find and fix issues across their entire production process, with automation and closed-loop control.”

In his new role, Suhail serves as the executive technology leader for Kelvin’s engineering and product division. With deep industry and technology expertise, and over 16 years of experience, Suhail is driving the acceleration of technological innovation in Kelvin’s next growth stage to best serve our customers needs.

He oversees all product and solutions development requirements phases, including system design, implementation, and continuing engineering.

Suhail’s vision is to deliver innovative, first-class technology that helps industrial organizations reach their net zero goals.

Before joining Kelvin, he was Chief Product Officer at Honeywell, managing their software portfolio for Connected Industrials.

With a BTech in Electronics Engineering and specialization in Machine Learning from Stanford University, Suhail is a subject matter expert and a leader in their digital transformation journey.

Sheena joins Kelvin from AWS to take the executive role of Chief Strategy & Business Development Officer. She has over 20 years of experience developing strategic partnerships, business development, and go-to-market motion from her background with Microsoft, AWS, and Databricks.

Sheena will be responsible for driving the company’s growth globally including leading strategic planning and initiatives, expanding Kelvin’s footprint in the market, and building key partnerships.

She holds a BS in Microbiology and Chemistry and an MBA.

With over 18 years of experience, Citalouise is the executive marketing leader responsible for overseeing Kelvin’s global marketing strategy, which includes strengthening the company’s market position, and leading the company’s brand and integrated communication functions including internal and external communications.

Prior to her role at Kelvin, she was Head of Global Alliances Marketing at AVEVA, leading strategic partners and exponential growth. Citalouise holds an MBA and a B.A. in Business Communications.

“Across all industries, organizations are accelerating their progress on their pathways to achieving sustainability goals. Leaders in the Energy, Manufacturing, and Oil & Gas industries seeking to hit net zero will benefit from solution providers that take the initiative to ensure they meet growing needs to serve new and existing clients effectively while also addressing new challenges. Kelvin is signaling industry growth by expanding its leadership team to enable its organization to optimally serve customers during this period of rapid growth,” said Peter Manos, ARC Analyst.

“At Kelvin, we take great pride in our selection process to ensure there’s a perfect fit. Our recruitment process is intensive, but we’re confident in our choices and look forward to seeing them thrive in their respective roles. I personally look forward to working with each of them as we embark on Kelvin’s next phase of global growth,” said Miguel Madeira, Global Head of People Operations.

In a report made available to investors on Thursday, Honeywell Flour Mills revealed that it had made an offer to shareholders to buy 79.30 million shares for N333.06 million, or N4.20kobo per share.

Through Ecowise Horizon Investment Limited and Creywise Investment Solution Limited, which together hold a 76.75 percent stake in Honeywell Flour, Flour Mills of Nigeria will buy the new shares.

Flour Mills purchased 6,086,381,572 ordinary shares of 50 Kobo in April, amounting to a 76.75 percent acquisition, with 71.69 percent coming from Honeywell Group and 5.06 percent from other sources.

Buying 6,086,381,572 ordinary shares of 50 Kobo apiece in April, Flour Mills purchased 76.75 percent of the company, with 71.69 percent coming from Honeywell Group and 5.06 percent coming from First Bank of Nigeria Plc.

According to a statement from Honeywell Flour – “By way of additional information-following the previous notification to Nigerian Exchange Limited on July 29, 2022, regarding the Flour Mills of Nigeria Plc (“Flour Mills”) Mandatory Take-Over Offer (MTO) by Honeywell Flour Mills Plc (“Honeywell” or “the Company”) (through Ecowise Horizon Investment Limited and Greywise Investment Solution Limited).

As per the pricing at which the block trade was completed, the MTO is valued at N4.20 (Four Naira, Twenty Kobo) per share. The statement states that the offer has started.