CHARLOTTE, N.C. — Honeywell International Inc. plans to spin off its Advanced Materials business into an independent, publicly traded company, a move that is expected to be completed by the end of 2025 or in early 2026.

The new business will be positioned to benefit from a strategic focus and the financial flexibility to pursue innovation and growth opportunities, a Honeywell press release said. The spinoff will enable Honeywell to focus on accelerating organic growth, evolving its Accelerator operating system, and optimizing its portfolio, the press release said.

“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,” said Vimal Kapur, Honeywell’s chairman and CEO. “As a sector leader, this new company will have a greater strategic focus on innovation, enabling it to develop new, more sustainable solutions and products with next-generation chemistry to create further value for shareowners.”

Kapur added, “Today’s announcement is the latest step in the optimization of the Honeywell portfolio, a key priority I laid out in my first year leading the company. Through the powerful combination of strategic bolt-on acquisitions and subtractions of high quality but non-core business lines, we continue to enhance our portfolio mix and further tighten Honeywell’s alignment to three compelling megatrends: automation, the future of aviation, and energy transition — underpinned by our Accelerator business models.”