On October 8, 2024, Honeywell announced a plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company, Solstice Advanced Materials, Inc., which is targeted to be completed in the fourth quarter of 2025.

As a pure-play specialty materials company with leading market positions in refrigerants, semiconductor materials, industrial-grade fibers and healthcare packaging solutions, Solstice will be well-positioned to benefit from a simplified strategic focus and greater financial flexibility to pursue innovation and growth opportunities through investment cycles.

Upon completion of the spin-off, the Advanced Materials business will be a pure-play specialty materials company with leading market positions in refrigerants, semiconductor materials, industrial-grade fibers and healthcare packaging solutions. 

The business offers technologies that include the low global warming potential Solstice® hydrofluoro-olefin (HFO) technology. Additionally, the business manufactures a wide variety of high-performance specialty materials technologies ranging from Spectra®, a fiber used in high-end armor technology to protect in law enforcement and military applications, to Hydranal®, one of the industry’s most trusted brands in Karl Fischer titration, to Aclar®, a high-performance pharmaceutical packaging material critical to preserving prescription drugs and keeping them safe.

Honeywell has announced several members of the new company’s leadership team including:

• Dr. Rajeev Gautam, Non-Executive Chairman of the Board of Directors, effective on completion of the spin
• David Sewell, President and Chief Executive Officer of Solstice Advanced Materials
• Tina Pierce, Chief Financial Officer of Solstice Advanced Materials
• Jeff Dormo and Simon Mawson: Senior Vice Presidents and General Managers of Solstice Advanced Materials’ two business segments

Honeywell has also announced the future Board of Directors for Solstice Advanced Materials, comprised of senior leaders with innovation, technology, and industrial sector expertise.

• You can learn more about Solstice by visiting this website: https://advancedmaterials.honeywell.com/us/en/spin-update

The new company will be headquartered in Morris Plains, New Jersey. 

Solstice Advanced Materials will be organized into two operating segments:

• Refrigerants & Applied Solutions (“RAS”): A leading portfolio of low-global-warming-potential (LGWP) refrigerants, blowing agents, solvents and aerosol materials, distributed and sold through the Solstice®, Genetron®, and Aclar® brands. This segment generated net sales of $2.7 billion in 2024.
• Electronic & Specialty Materials (“ESM”): A leading portfolio of electronic materials, industrial-grade fibers, laboratory life sciences materials, and specialty chemicals, distributed and sold through the Spectra®, Fluka®, and Hydranal® brands. This segment generated net sales of $1.0 billion in 2024.

Honeywell’s Advanced Materials business generated net sales of $3.8 billion and net income of $0.6 billion in 2024. 

Solstice Advanced Materials will be supported by more than 3,900 employees, 21 manufacturing sites and four R&D sites. 

Solstice Advanced Materials will be supported by more than 3,900 employees around the world. In addition to its headquarters in Morris Plains, New Jersey, teams will be located in Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest and Mexico City. The independent company will operate 21 manufacturing sites and four R&D sites.

Email communications will be sent to current customer contacts.

Overall updates will also be shared on our website:   https://advancedmaterials.honeywell.com/us/en/spin-update

The Advanced Materials business is committed to a seamless transition with no disruption to customer operations or relationships. Individual commercial circumstances can be discussed 1:1 with your sales representative if required.

Contracts will need to be transferred to a new legal entity. Our team will work with you on providing the necessary information and documentation prior to the official separation of the Advanced Materials business.

Contracts will need to be transferred to a new legal entity. Our team will work with you on providing the necessary information and documentation prior to the official separation of the Advanced Materials business.

Your primary point of contact is your sales representative. A secondary contact is customer service. If you do not know your contact, please use the form on our spin-off website, and a Honeywell representative will contact you.

• For any inquiries, you can:
  • Submit a query on our spin-off website.
  • Contact your sales representative; or email customer support at sm-af&c-fax@honeywell.com.

The Advanced Materials business is committed to a seamless transition with no disruption to customer operations or relationships.

Contracts will need to be transferred to a new legal entity. Our team will work with you on providing the necessary information and documentation prior to the official separation of the Advanced Materials business.

Depending on your relationship with the Advanced Materials business as a customer, partner or supplier, there will be different types of information to update. We will provide that information as soon as possible.

Communications are being sent to all customers containing the necessary details.

If you have not received the details, please contact your account manager or kindly email us at sm-af&c-fax@honeywell.com to reach the customer support team. 

We kindly ask that you proceed with the payment using the account information included on the invoice you received.

We will contact you when all the information is available to begin the process. 

The promised delivery date will not change if we can use the existing Sales Order with your PO number.

All open orders will be transferred to the new legal entity, along with updated bank account information and Tax ID or VAT number.

We will continue to process your order with the new details.

If you have any concerns related to this plan, we kindly ask you to email us at sm-af&c-fax@honeywell.com to reach the customer support team.

The order will be rebooked with the new legal entity, and the delivery priority will change. This means the initial promised delivery date will be lost, and a new one will be confirmed only if you cannot issue a new PO in the acceptable formats.

If you're able to share your purchase order (PO) number with us outside of the EDI connection, we can manually update our system to align with your original PO. This will allow us to preserve your original promised delivery date.

However, if you cannot provide your PO details outside of the EDI connection, we will be unable to match the order to your original request. In that case, the original delivery date will no longer apply, and we will confirm a new delivery date for you.

If you have an open order with partial deliveries, please notify us whether you would like to use the existing sales order number or if you require a new purchase order for the remaining order quantity.

All open, in-transit orders will be delivered as scheduled. 

Yes, all relevant documents will be included with the delivered items.

Yes, you should be able to track the status of your in-transit order. Please refer to the same tracking system you are using today or contact customer service for detailed updates on your shipment.

Our current process will not change, only the supporting documents will be updated.

All data will be available to you on the existing website.

• https://advancedmaterials.honeywell.com/us/en/secure/orders
• https://lab.honeywell.com