Honeywell (HON) plans to spin off its Advanced Materials business, targeting completion by end of 2025 or early 2026, boosting sales growth.

Honeywell will spin off its advanced materials unit into a publicly traded company, the U.S. conglomerate said on Tuesday, simplifying its business to sharpen its focus on aviation, automation and energy transition.

Honeywell International Inc. plans to spin off its advanced materials division, the latest move by the industrial conglomerate to reshape its portfolio and streamline its holdings.

(Reuters) -Diversified manufacturer Honeywell is planning to spin off its advanced materials division, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Shares of the company,

Vimal Kapur, Honeywell chairman and CEO, joins 'Squawk on the Street' to discuss why Kapur is making a 'radical' move to reinvent Honeywell, the chief executive thoughts on the company's energy transition,

KEY TAKEWAYS Honeywell shares are rising 3% in premarket trading after the conglomerate said it plans to spin off its Advanced Materials division as it joins its peers in pursuing a more focused strategy.

Honeywell's spin-off of their Advanced Materials business could potentially accelerate its organic growth and optimize their cost structures. See more here.