Honeywell to spin off Resins and Chemicals; ammonium sulfate to be part of new company

摘要

Honeywell, Morris Plains, N.J., announced on May 12 its intention to spin off its Resins and Chemicals business into a standalone, publicly-traded company named AdvanSix Inc. Completion of the transaction is expected to occur by early 2017 and is subject to certain customary conditions, including, among others, assurance that the spin-off of AdvanSix will be tax-free to Honeywell shareowners; the effectiveness of appropriate filings with the U.S. Securities and Exchange Commission; and final approval by Honeywell's board of directors. The company said there is no impact to financial guidance at this time.