Honeywell sells engineering plastics unit to BASF for $90 million plus BASF nylon fiber business
Honeywell today announced definitive agreements with BASF for two transactions that are part of a planned restructuring of Honeywell's
Specialty Materials business unit.
Under terms of the agreements, Honeywell will sell its engineering plastics
business to BASF and will acquire BASF's nylon fiber business. Honeywell will
receive $170 million in cash and all of BASF's nylon fiber business at closing. Honeywell will pay $80 million to BASF within one year of the transaction's close.