Charlotte-based Honeywell has announced it will be splitting into three companies — one focused on advanced materials production, another on industrial and building automation, and another on the aerospace industry.

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.

The industry giant announced its intent to separate its Aerospace and Automation businesses alongside an Advanced Materials offering.