Honeywell’s advanced materials segment will be known as Solstice Advanced Materials after it is separated into an independent company, officials announced last week.
Honeywell officials also named the new business’ leadership team — including a former WestRock Company and Sherwin Williams executive as its new CEO.
Honeywell announced plans to spin off the advanced materials business last fall as part of a broader effort to narrow the focus of the once-sprawling industrial conglomerate. The company last month announced a plan to further split its remaining operations into three separate companies.
Solstice, the company said, will be a nearly $4 billion business focused on specialty chemicals and materials, including its Solstice brand hydrofluoroolefin technology and other leading offerings.
It will be headquartered in Morris Plains, New Jersey, and led by David Sewell, who joined Honeywell as president and CEO of the advanced materials business effective Tuesday. Other top officials of the segment include non-executive Chairman Rajeev Gautam, CFO Tina Pierce, and Jeff Dormo and Simon Mawson, who will both hold senior vice president and general manager titles.
"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,” Honeywell Chairman and CEO Vimal Kapur said in the announcement.
The spinoff is expected to be completed in either late 2025 or early 2026.
