Garrett Motion Inc., a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today marks its first day as an independent company following its successful tax-free spinoff from Honeywell.
President and CEO Olivier Rabiller says he is ready to lead Garrett into a new era of advancing motion, celebrating its first day of trading as an independent company. The new company’s stock will be traded under the symbol “GTX.”
“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.
“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 also is known as a strong turbo brand within the performance and enthusiast community. Its aftermarket performance portfolio serves OEM factory teams competing at the highest levels of international competition as well as private grassroots racers and tuners seeking improved engine performance.
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.
Garrett has more than 7,500 employees including some 1,200 engineers contributing to 1,400 issued or pending patents. In 2017, the company’s revenues were approximately $3.1 billion.
