Investing.com -- Honeywell (NASDAQ:HON) is expected to announce plans to spin off its advanced materials unit in a tax-free separation, The Wall Street Journal has reported, citing people familiar with the matter. The division could be worth over $10 billion as a separately traded public company, the paper reported. It is on pace to register around 10%, or approximately $3.8 billion, of Honeywell's total sales this year, the WSJ said. The materials business specializes in everything from polymers to performance fluids and employs over 3,000 people, according to Honeywell's website. Related ArticlesHoneywell planning to spin off advanced materials division - WSJIndia stocks higher at close of trade; Nifty 50 up 0.88%Honeywell to spin off advanced materials business

Source: Wall Street Journal October 08, 2024 10:41 UTC