Honeywell to spin-off its Advanced Materials business.

Honeywell, an American multinational conglomerate producing commercial and consumer products, is set to spin-off its Advanced Materials business. "Given the sustained market demand for advanced specialty chemicals and materials around the globe, we are confident now is the right time for this business to grow independently, leveraging its leading technologies and deep customer relationships," Vimal Kapur, Honeywell Chairman and CEO.