Honeywell Aerospace will remain headquartered in Phoenix after being spun off from Honeywell International. The tax-free spinoff will result in three separate, publicly listed companies, each focused on distinct industries.

Honeywell plans to separate its automation and aerospace technologies businesses from the U.S. industrial conglomerate, following similar actions by companies such as General Electric and Alcoa.

Headquarters for Honeywell Aerospace will stay in Phoenix after the conglomerate breaks into three independent companies.