Having announced its intention to spin off its Advanced Materials business, including its Spectra advanced fibre operations, Charlotte, North Carolina-headquartered Honeywell International is also reported to be exploring the sale of its personal protective equipment (PPE) unit.

The spin off of Advanced Materials to shareholders, expected to be complete by the end of 2025 or early 2026, follows four recent acquisitions by Honeywell as part of a focus on high-return businesses trailing three key megatrends – automation, the future of aviation and energy transition.

“Given the sustained market demand for advanced speciality chemicals and materials around the globe, we are confident now is the right time for Advanced Materials to grow independently, leveraging its leading technologies and deep customer relationships,” said Honeywell chairman and CEO Vimal Kapur. “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.”

Spectra  is an ultra-high molecular weight polyethylene (UHMWPE) fibre that has been trusted globally for decades in applications such as ballistic armour. It is fifteen times stronger than steel and more durable than polyester.

According to Bllomberg, Honeywell is further exploring the sale of its personal protective equipment (PPE) unit to private equity firm Odyssey Investment Partners, in a deal worth $1.5 billion.

During the Covid-19 pandemic, the company significantly increased production capacity for its N95 respirators and disposable surgical face masks, as well as protective wear, and expanded operations to help address increased demand.

In December 2020 alone, it shipped some 225 million face masks to the US health care system.

Following the pandemic, demand naturally waned.

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