Honeywell announced the planned spin-off of Solstice Advanced Materials as an independent, publicly traded company, expected to be completed in the fourth quarter of 2025. The new entity will focus on specialty materials, with leading positions in refrigerants, semiconductor materials, protective fibers, and healthcare packaging.
Solstice will operate with a clearly defined structure and leadership. Dr. Rajeev Gautam, former President and CEO of Honeywell’s Performance Materials and Technologies division, has been named Independent Chair of the Board of Directors. David Sewell, who currently leads the Solstice business, will serve as President and CEO. The 10-member Board will include experienced executives from the industrial, technology, and materials sectors.
One of Solstice’s key business units will be Refrigerants & Applied Solutions (RAS). This segment includes a portfolio of low-global-warming-potential (LGWP) refrigerants, blowing agents, solvents, and aerosol propellants, marketed under well-established brands such as Solstice, Genetron, and Aclar. In 2024, RAS generated net sales of $2.7 billion, making it the company’s largest operating segment.
Solstice is expected to begin trading as a standalone company following the completion of the spin-off process. Honeywell has filed a Form 10 registration statement with the U.S. Securities and Exchange Commission as part of this transition.
"With Honeywell’s legacy and a purpose-built management team and Board, Solstice is set up for a very bright future," said Vimal Kapur, Chairman and CEO of Honeywell.
David Sewell added, "Solstice will enter this next chapter with strong momentum, a clear strategic vision, and a team ready to deliver."
