Garrett begins trading as an independent company
Garrett Motion has begun trading as an independent company following its successful spin-off from Honeywell. Regular-way trading on the New York Stock Exchange begins under the GTX ticker symbol.
“In leveraging our rich heritage as Honeywell Transportation Systems, we have evolved Garrett into a new dynamic and forward-thinking company,” said Garrett CEO and president Olivier Rabiller. “The Garrett name has been synonymous with advancing motion by revolutionizing turbocharger technology that has become foundational to modern internal combustion engines.
“Now, as an independent company, Garrett will vigorously pursue opportunities to provide electric boosting and automotive software solutions addressing global macro issues, including more stringent fuel economy regulations and increased connectivity, which are heavily driving future vehicle development.”
In addition to providing its technology to OEM customers, Garrett also provides replacement parts to the global independent aftermarket. The company, which is known for its turbo technologies, also develops aftermarket performance solutions for OEM factory teams competing at the highest levels of international competition as well as private grassroots racers and tuners seeking greater performance.