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Honeywell shareholders to get spinoff shares in AdvanSix on Oct. 1

September 09/2016

MOSCOW (MRC) -- Honeywell International Inc.'s shareholders will receive a stake in AdvanSix next month, as part of Honeywell's spinoff of the USD1.3 billion resins and chemicals business, said Reuters.

The New Jersey-based industrial conglomerate, best known as a maker of thermostats, has been expanding its industrial software business.

Under the terms of the dividend tied to the AvanSix spinoff, Honeywell shareholders of record as of 5 p.m. ET on Sept. 16 will receive 25 AdvanSix shares on Oct. 1.

AdvanSix stock is expected to begin trading in the "when issued" market on Sept. 14. Regular trading of ASIX on the New York Stock Exchange is expected to begin Oct. 3.

Honeywell's stock closed Wednesday at USD114.24, up 10% this year.

As MRC informed earlier, Honeywell International Inc. said that it would spin off its USD1.3 billion resins and chemicals business into a stand-alone, publicly traded company.

Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advanced materials, process technologies and automation solutions. PMT"s Advanced Materials businesses manufacture a wide variety of high-performance products, including environmentally friendlier refrigerants and materials used to manufacture end products such as bullet-resistant armor, nylon, computer chips and pharmaceutical packaging. Process technologies developed by PMT"s UOP business form the foundation for most of the world"s refiners, efficiently producing gasoline, diesel, jet fuel.
Author:Anna Larionova
Tags:PA, poliamid, min.udobreniya, Honeywell, USA.
Category:General News
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