Honeywell closes BASF pacts and creates Honeywell Nylon
Honeywell has completed two transactions with BASF in which Honeywell sold its engineering plastics business to BASF in exchange for BASF’s nylon fiber business and $90 million in cash.
For Honeywell, the transactions are the latest steps in the restructuring of its Specialty Materials business unit. The new combined business entity, Honeywell Nylon, is expected to yield annual sales of approximately $1 billion, the company says.