October 9, 2024 15:31

The American chemical company Honeywell has decided to spin off its Advanced Materials division. This business unit covers a broad range of activities, from technical and packaging films Aclar to ultra-high molecular weight polyethylene (UHMWPE) fibers used in military and medical applications, as well as refrigerants and blowing agents. These activities generate approximately $3.8 billion in revenue.

The spin-off is expected to culminate in the listing of this autonomous company on the stock market by late 2025 or early 2026. The company expects to execute the operation in a tax-free manner to its shareholders.

Once the separation of Advanced Materials is completed, Honeywell will restructure its portfolio to focus on three megatrends: automation, the future of aviation, and energy transition.

"Given the sustained market demand for advanced specialty chemicals and materials around the globe, we are confident now is the right time for this business to grow independently, leveraging its leading technologies and deep customer relationships," commented Vimal Kapur, Honeywell's president and CEO. "The new company will have a greater strategic focus on innovation, enabling it to develop new, more sustainable solutions and products with next-generation chemistry to create further value for shareholders."

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