Core Viewpoint - The global chemical new materials industry is experiencing a wave of mergers and acquisitions starting in 2026, indicating a trend towards consolidation and strategic realignment within the sector [2]. Group 1: Mergers and Acquisitions - Mitsubishi Chemical is transferring its synthetic resin emulsion business and acrylic emulsion business to Japan's Konishi [2]. - Zhejiang Longsheng has completed the acquisition of the remaining 37.57% stake in the world's largest textile dye supplier, Dystar Global Holdings, for a total consideration of $702 million (approximately 4.928 billion RMB) [2]. - China Shenhua has received approval from the China Securities Regulatory Commission for its acquisition of equity stakes in 12 target companies held by the State Energy Group and its wholly-owned subsidiary, marking the largest chemical acquisition case in A-shares [2]. Group 2: Major Acquisitions - China BlueStar announced a strategic acquisition of Elkem ASA's organic silicon business, using its entire shareholding in Elkem (338,338,536 shares) as consideration, valued at approximately 1.02 million USD [4]. - Henkel has acquired the specialty coatings company Stahl for €2.1 billion (approximately 17.2 billion RMB), ending Wendel's 20-year control over Stahl [5]. - Henkel also announced the acquisition of Swiss water-based specialty adhesive manufacturer ATP Adhesive Systems, which is expected to generate sales of approximately €270 million in the 2025 fiscal year [6]. - Honeywell is set to acquire Johnson Matthey's catalyst technology business for £1.325 billion (approximately 15.1 billion RMB), with a significant reduction in the original deal price due to market conditions and performance considerations [7][8].

Core Viewpoint - Honeywell announced significant acquisitions and divestitures, including the acquisition of Johnson Matthey's catalyst technology business for £1.8 billion (approximately RMB 17.4 billion) and the sale of its personal protective equipment (PPE) business for $1.325 billion (approximately RMB 9.5 billion) [1][3]. Group 1: Acquisitions - Honeywell agreed to acquire Johnson Matthey's catalyst technology business, expected to be completed in the first half of 2026 [1]. - The catalyst business focuses on low-carbon hydrogen production, sustainable aviation fuel (SAF), and carbon capture and utilization (CCUS) [1]. - This acquisition will enhance Honeywell's UOP business, allowing it to provide comprehensive solutions for low-emission fuels [2]. Group 2: Divestitures - Honeywell completed the sale of its PPE business to Protective Industrial Products for $1.325 billion [3]. - This sale marks Honeywell's exit from the PPE sector, following previous divestitures in related areas [3]. - The company also plans to separate its automation and aerospace businesses by the second half of 2026 [3]. Group 3: Financial Performance - Honeywell's projected sales for 2024 are $38.5 billion, reflecting a 5% year-over-year growth [4]. - In Q1 2025, sales reached $9.8 billion, an 8% increase year-over-year, with a consistent growth in backlog orders [4]. - The company anticipates 2025 sales to be between $39.6 billion and $40.5 billion, continuing its growth trajectory [4].