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Honeywell spins off its nylon and chemicals business

Honeywell is divesting its nylon and chemicals business to become an independent listed enterprise called advansix

Honeywell spins off nylon and chemicals business

erin Kane will serve as the president and CEO of the new company. She has been the vice president and general manager of Honeywell's resin and chemicals business since October 2014

the new company will include Honeywell's Nylon 6 resin and film business, caprolactam (nylon precursor) business, and ammonium sulfate fertilizer and chemical intermediates business, including phenol, acetone and cyclohexanone

the transaction is expected to be completed in early 2017

on May 12, Honeywell's chairman and CEO, Galway, said that the company's $1.3 billion resin and chemicals business is in a leading position in the industry it serves and has a global cost advantage. As an independent enterprise, it will have greater flexibility to invest in enhancing its products and services

the pre tax profit of this business in 2015 was US $107 million. The successful transformation of Yulian group played an exemplary and leading role in resolving the excess capacity of the industry, with a net profit of US $68.1 million

among them, the sales of nylon 6 resin reached US $312million, accounting for about a quarter of the new company's business

Honeywell said that great changes have taken place in the global nylon Market in the past five years, and Chinese enterprises continue to enter the market and expand global supply. At present, Chinese enterprises have accounted for 43% of the global nylon 6 production capacity, which is much higher. Therefore, the measurement of the experimental data of the tensile testing machine is more solid. The dosage and calibration are closely related to the anti-interference design, up from 26% in 2010

due to the rising supply and intensifying competition, the profit margin of nylon 6 resin has been affected, reaching a historical low

last August, DSM group also sold most of the shares of its two subsidiaries including nylon resin business to investment companies

Honeywell added 90million pounds of nylon capacity in the United States last year, including nylon 6 and nylon 6/6/6

Honeywell is also the 55th film and sheet manufacturer in North America, with an estimated annual sales of US $120million

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