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." The planned spin-off is expected to create value for all stakeholders as both Honeywell and the Advanced Materials business will benefit from: Honeywell's Continued Simplification and Portfolio Optimization The planned spin-off of the Advanced Materials business follows four recent acquisitions Honeywell announced as part of its disciplined capital deployment strategy.