Honeywell 2002 Annual Report Download - page 20

which is incorporated herein by reference and in Item 3. Legal Proceedings of
this Annual Report on Form 10-K.
EMPLOYEES
We have approximately 108,000 employees at December 31, 2002, of which
approximately 63,000 were located in the United States.
ITEM 2. PROPERTIES
We have over 1,000 locations consisting of plants, research laboratories,
sales offices and other facilities. Our headquarters and administrative complex
is located at Morristown, New Jersey. Our plants are generally located to serve
large marketing areas and to provide accessibility to raw materials and labor
pools. Our properties are generally maintained in good operating condition.
Utilization of these plants may vary with sales to customers and other business
conditions; however, no major operating facility is significantly idle. We own
or lease warehouses, railroad cars, barges, automobiles, trucks, airplanes and
materials handling and data processing equipment. We also lease space for
administrative and sales staffs. Our properties and equipment are in good
operating condition and are adequate for our present needs. We do not anticipate
difficulty in renewing existing leases as they expire or in finding alternative
facilities.
Our principal plants, which are owned in fee unless otherwise indicated, are
as follows:
AEROSPACE
---------
Glendale, AZ South Bend, IN Albuquerque, NM
(partially leased) Olathe, KS (leased) Rocky Mount, NC
Phoenix, AZ Minneapolis, MN Urbana, OH
Tempe, AZ Plymouth, MN Redmond, WA
Tucson, AZ Teterboro, NJ Toronto, Canada
Torrance, CA Yeovil, Somerset
(partially leased) United Kingdom
Clearwater, FL
AUTOMATION AND CONTROL SOLUTIONS
--------------------------------
Phoenix, AZ Northford, CT Golden Valley, MN
San Diego, CA Freeport, IL Syosset, NY
SPECIALTY MATERIALS
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Baton Rouge, LA Pottsville, PA Hopewell, VA
Geismar, LA Columbia, SC Seelze, Germany
Moncure, NC Chesterfield, VA Longlaville, France
TRANSPORTATION AND POWER SYSTEMS
--------------------------------
Mexicali, Mexico Thaon-Les-Vosges, France Atessa, Italy
Glinde, Germany Skelmersdale, United
Kingdom
ITEM 3. LEGAL PROCEEDINGS
SHAREOWNER LITIGATION -- Honeywell and seven of its current and former
officers were named as defendants in several purported class action lawsuits
filed in the United States District Court for the District of New Jersey (the
Securities Law Complaints). The Securities Law Complaints principally allege
that the defendants violated federal securities laws by purportedly making false
and misleading statements and by failing to disclose material information
concerning Honeywell's financial performance, thereby allegedly causing the
value of Honeywell's stock to be artificially inflated. On January 15, 2002, the
District Court dismissed the consolidated complaint against four of Honeywell's
current and former officers. The Court has granted plaintiffs' motion for class
certification defining the purported class as all purchasers of Honeywell stock
between December 20, 1999 and June 19, 2000.
The parties have agreed to participate in a two day settlement mediation in
April, 2003 in an attempt to resolve the cases without resort to a trial. All
significant discovery in the cases has been stayed pending further order of the
court.
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