HONEYWELL ANNOUNCES LEADERSHIP TEAM AND COMPANY NAME FOR ADVANCED MATERIALS SPIN-OFF

Core Viewpoint - Honeywell is set to spin off its Advanced Materials business, which will be named Solstice Advanced Materials, into an independent publicly traded company by late 2025 or early 2026, focusing on sustainability and specialty chemicals [1][2][6]. Group 1: Company Structure and Leadership - Solstice Advanced Materials will be headquartered in Morris Plains, New Jersey, and will maintain a global presence with teams in various cities including Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest, and Mexico City [2][3]. - The leadership team includes Dr. Rajeev Gautam as Chairman of the Board, David Sewell as President and CEO, and Tina Pierce as CFO, all bringing extensive experience in the industry [3][4]. - The company aims to leverage its legacy of low global warming technology and next-generation chemistry to establish itself as a leader in the specialty chemicals and materials market [2][4]. Group 2: Financial Performance and Market Position - Solstice Advanced Materials reported nearly $4 billion in revenue last year, indicating a strong financial foundation for the new entity [2]. - The spin-off is part of Honeywell's broader strategy to optimize its portfolio, which includes significant acquisitions totaling approximately$11 billion and divestitures to streamline operations [6][7]. Group 3: Strategic Focus and Future Outlook - The new company will focus on sustainability and innovation in specialty chemicals, positioning itself to benefit from a compelling investment profile and optimized capital allocation strategy [5]. - Honeywell's strategic actions since December 2023 aim to drive organic growth and simplify its portfolio, enhancing the future prospects of both Honeywell and Solstice Advanced Materials [7].