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Garrett Files Chapter 11

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St. Paul
#6
Probably nothing. Looks like they are just looking to be bought out.
Are they not already owned by Honeywell?

Maybe not...

from Wikipedia
"On October 1, 2018, Garrett Motion Inc. became an independent publicly-traded company through a pro rata distribution of Garrett shares to Honeywell’s stockholders. Each Honeywell stockholder of record received one share of Garrett common stock for every 10 shares of Honeywell common stock held on the record date. Approximately 74 million shares of Garrett common stock were distributed on October 1, 2018, to Honeywell stockholders"

I guess that could explain the issue.
 


TyphoonFiST

9000 Post Club
Premium Account
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7,986
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Rich-fizzield
#7
Are they not already owned by Honeywell?

Maybe not...

from Wikipedia
"On October 1, 2018, Garrett Motion Inc. became an independent publicly-traded company through a pro rata distribution of Garrett shares to Honeywell’s stockholders. Each Honeywell stockholder of record received one share of Garrett common stock for every 10 shares of Honeywell common stock held on the record date. Approximately 74 million shares of Garrett common stock were distributed on October 1, 2018, to Honeywell stockholders"

I guess that could explain the issue.

https://www.honeywell.com/en-us/new...onds-to-garrett-motion-incs-bankruptcy-filing
 


Messages
114
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171
Location
South Jersey
#8
I believe Honeywell dropped them cause they were losing money.
They probably need to move more manufacturing to China 😉

I'm sure they'll be acquired and recover. They are a great brand.
 


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