In a move to progress its strategic priorities of accelerating organic growth, Honeywell announced that it plans to spin off its Advanced Materials business into an independent, US publicly traded company. The spin-off, which is expected to be tax-free to its shareholders, is likely to be completed by the end of next year or early 2026, subject to certain customary conditions.
Air Products recently completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell for $1.81 billion (€1.63 billion) in cash.
Honeywell and Spanish energy and petrochemicals group Repsol are collaborating to create new production pathways for biofuels and circular materials. The two companies will also explore the possible integration of these methods into Repsol’s existing facilities.
Honeywell and Air Products recently announced that Honeywell has agreed to acquire Air Products’ liquefied natural gas (LNG) process technology and equipment business for €1.67 billion ($1.81 billion) in an all-cash transaction. This represents approximately 13x the estimated 2024 EBITDA.
Polish chemicals and plastics producer Grupa Azoty has started up what it says is the first new polypropylene plant to be built in Europe in 15 years, while also realizing one of the largest investments in the European chemical industry.
Honeywell and Spanish engineering and services company Sacyr will form a joint venture to establish and operate a plastics waste recycling plant in Andalucia.
Honeywell Process Solutions (HPS) has won a contract to upgrade Sidi Kerir Petrochemicals Company’s (Sidpec) production capabilities at its flagship complex in Alexandria, Egypt.
