Honeywell announced the filing of its Form 10 registration statement with the SEC for the planned spin-off of Solstice Advanced Materials.
Solstice Advanced Materials will be a pure-play specialty materials company with leading market positions in refrigerants, semiconductor materials, protective fibers, and healthcare packaging solutions.
The filing marks a significant milestone as Solstice prepares to become a standalone public company in the fourth quarter of 2025.
Key Offering
Solstice Advanced Materials will be a differentiated advanced materials company with a focus on refrigerants, semiconductor materials, protective fibers, and healthcare packaging.
Financial Performance
In 2024, Solstice generated net sales of $3.8 billion, net income of $0.6 billion, and adjusted EBITDA of $1.1 billion.
Operating Segments
Solstice Advanced Materials will be organized into two segments: Refrigerants & Applied Solutions and Electronic & Specialty Materials.
- Solstice Advanced Materials is positioned to capitalize on secular growth trends in cooling, building solutions, artificial intelligence, and advanced computing.
- The company aims to unleash growth and unlock substantial long-term value for all stakeholders through innovation and strategic partnerships.
The Form 10 filing signifies a pivotal step towards the spin-off of Solstice Advanced Materials as an independent company. Honeywell is focused on forming industry-leading public companies to deliver exceptional customer service, expand opportunities for employees, and unlock shareholder value.