Honeywell has taken a significant step in its portfolio transformation by filing the necessary paperwork to spin off its specialty materials business — Solstice Advanced Materials which will be headquartered in Morris Plains. The move will create a new, independent, publicly traded company expected to list on the Nasdaq exchange under the ticker symbol “SOLS” by the fourth quarter of 2025.
The newly formed company, Solstice Advanced Materials, emerges as a major player in its sector with strong financial performance. Solstice will be organized into two main business segments. The Refrigerants & Applied Solutions (RAS) segment, and the Electronic & Specialty Materials (ESM) segment.
To guide the new company, Honeywell has appointed a 10-person Board of Directors. Dr. Rajeev Gautam, former president and CEO of Honeywell’s Performance Materials and Technologies business, will serve as independent chair, bringing extensive experience to the role. David Sewell, president and CEO of Solstice, will also join the board. Sewell has over three decades of experience in the materials and chemicals industries, including previous leadership roles at WestRock Company and The Sherwin-Williams Company.
Solstice’s competitive strengths include a strong intellectual property portfolio with over 5,700 patents, a broad customer base spanning 120 countries, and a commitment to innovation.
