04:29 PM EST, 12/02/2024 (MT Newswires) -- Honeywell ( HON ) announced after close of trade Monday the signing of a strategic agreement with Bombardier (BBD-A.TO, BBD-B.TO), a global player in aviation and manufacturer of business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies.

Among highlights, Monday's statement said the greement includes collaborative research and development centered on Honeywell Anthem avionics, selection of "more powerful" engines, and next-generation satellite communications technologies for Bombardier aircraft.

It added all legacy pending litigation between the companies has been resolved.