Honeywell has completed
two transactions with BASF, previously announced on Jan. 14, 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, to
be known as Honeywell Nylon, is expected to yield annual sales of approximately $1 billion.