Honeywell to Spin Off Advanced Materials Division

Honeywell has decided to spin off its Advanced Materials business, which will be named Solstice Advanced Materials after its tax-free spinoff to shareholders, which is expected to be completed by late 2025 or early 2026. The independent company will be headquartered in Morris Plains, New Jersey.

Solstice Advanced Materials will be a publicly traded, sustainability-focused, specialty chemicals and materials company. Solstice will offer leading technologies with premier brands, including the Solstice hydrofluoroolefin, which is used as a refrigerant. The company has also announced several members of the new company’s leadership team.

Vimal Kapur, Chairman and CEO of Honeywell said "With a trusted legacy built from its breakthrough low global warming Solstice® technology and its next-generation chemistry advances, Solstice Advanced Materials is already well-positioned to be a leader in the specialty chemicals and materials market."

In addition to its headquarters in Morris Plains, New Jersey, Solstice Advanced Materials will have teams located in Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest and Mexico City. The independent company will maintain its global manufacturing footprint along with additional R&D sites. With a large-scale domestic manufacturing base, Solstice Advanced Materials will be positioned to benefit from a compelling investment profile and a more flexible and optimized capital allocation strategy.