Garrett Motion Inc., a technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, earlier this month marked its first day as an independent company following its successful tax-free spinoff from Honeywell.
Garrett CEO and President Olivier Rabiller led Garrett’s executive leadership team in marking a new era in the more than 60-year history of the company by ringing the opening bell above the trading floor at the New York Stock Exchange on Oct. 1.
“This is a memorable milestone for a company that already celebrates more than six decades as an automotive technology pioneer, inventor and innovator,” Rabiller said. “We have a robust and talented organization of world-class people, and we have established a strong position for providing differentiated technologies that are in demand.”
The new Garrett will continue its industry leadership in its core turbocharger business while continuing to expand into new growth markets like electrification and connected vehicles, specifically cybersecurity and integrated vehicle maintenance.
“In leveraging our rich heritage as Honeywell Transportation Systems, we have evolved Garrett into a new dynamic and forward-thinking company. 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 its original equipment manufacturer (OEM) customers, Garrett also provides replacement parts to the global independent aftermarket meeting a range of end-customer needs.
Garrett enjoys longstanding collaborative relationships with leading global automakers and has a proven track record of operational excellence. It currently serves approximately 40 global automakers with 13 well-positioned manufacturing plants and five research and development centers to meet worldwide demand.