Mark Honeywell founded Honeywell in 1906 as a heating company called Honeywell Heating Specialty Company. In 1898, W.R. Sweatt bought out the remaining shares of the company and expanded it into new industries such as aerospace, home and building technologies, safety and production, and information technology. Today, Honeywell is an American multinational conglomerate that produces commercial and consumer products, engineering services, and aerospace systems used in applications like water tanks, security cameras, and nuclear bombs.