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Honeywell got its start from Albert Butz, who invented the damper flapper in 1885; the damper flapper was a thermostat made specifically for coal furnaces. Honeywell was founded in Wabash, Indiana in 1886, and then merged with the Minneapolis Heat Regulator Company in 1927. Today the company is based out of Morristown, NJ and was a part of the DOW as recently as 2008. As a Fortune 500 company, Honeywell produces a variety of products for consumer and commercial needs, as well as providing aerospace systems and engineering services. Home thermostats are perhaps the most recognizable product produced by Honeywell today.