I thought it would be not correct to clutter the thread hence replying you thorugh Honeywell thread.
You are correct that prima facie both Honeywell and 3M does not have similar business. However, the underlying factor which drive sales in both companies reveue in India is industrial growth. Hence, I considered same as in my approach. I always believe that investing is more of art and it shall be customised to individual requirement. There are mutilway to analyse business, I consider 3ASH (3M/ ABB/Siemesn/ Honeywell) as MNC gaining for Capacity relocation from China. The extent of gain would definitely differ based each company’s unique position/offering and management approach. So you can device your model to approach investing and like life, there is no prefect generic solution to investing.
Wish you happy investing.