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Honeywell Seeks To Simplify Structure, Boost Flexibility With $10B Spin-Off Of Advanced Materials Unit

Honeywell Seeks To Simplify Structure, Boost Flexibility With $10B Spin-Off Of Advanced Materials Unit

霍尼韦尔寻求简化结构,通过价值100亿美元的爱文思控股高级材料部门的剥离来提高灵活性
Benzinga ·  10/08 19:07

On Tuesday, diversified manufacturing and technology company Honeywell International (NASDAQ:HON) announced its plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company. The Wall Street Journal first reported the tax-free separation.

爱文思控股周二宣布计划将其高级材料业务分拆为独立的美国上市公司。《华尔街日报》首次报道了这项免税分拆。

"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...," said Vimal Kapur, Chairman and CEO of Honeywell.

霍尼韦尔的董事长兼首席执行官Vimal Kapur表示:“通过战略性的并购以及剥离高质量但非核心业务线,我们继续完善我们的投资组合,并进一步紧密与三大引人注目的宏观趋势——自动化、航空未来和能源过渡紧密对齐,”

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By simplifying the company's structure, Kapur aims to increase the focus and flexibility of Honeywell's growth initiatives.

通过简化公司架构,Kapur旨在提高霍尼韦尔增长计划的聚焦性和灵活性。

The Wall Street Journal report highlighted the deal is expected to position the business as a separately traded public company with a potential value exceeding $10 billion.

《华尔街日报》的报道指出,该交易预计将使业务成为一个价值超过100亿美元的独立交易的上市公司。

The advanced materials business manufactures polymers, performance fluids, and additives. In 2024, it generated approximately $3.8 billion in revenue with an EBITDA margin greater than 25%.

该高级材料业务生产聚合物、性能流体和添加剂。2024年,其营业收入约为38亿美元,EBITDA毛利率超过25%。

The Wall Street Journal highlighted that the business unit's sales accounted for around 10% of Honeywell's overall revenue.

《华尔街日报》指出,该业务部门的销售额约占霍尼韦尔总营业收入的10%。

As part of Kapur's efforts to rejuvenate the company, Honeywell has been active on the acquisition front, including Carrier Global Corporation's (NYSE:CARR) Global Access Solutions business for $4.95 billion in an all-cash transaction, CAES Systems from Advent International for about $1.9 billion, and Air Products And Chemicals, Inc.'s (NYSE:APD) liquefied natural gas process technology and equipment business for $1.81 billion.

作为Kapur努力振兴公司的一部分,霍尼韦尔一直活跃于收购的行动中,包括以全现金交易价值约49.5亿美元收购纽约交易所Carrier Global Corporation的全球准入解决方案业务,以约19亿美元从Advent International收购CAES Systems,以及以18.1亿美元收购纽约交易所Air Products And Chemicals, Inc.的液化天然气工艺技术及设备业务。

The decision to spin off the advanced materials segment is seen as a strategic move to provide Honeywell and the new entity with enhanced financial flexibility.

将高级材料部门剥离的决定被视为一项战略举措,以提供霍尼韦尔和新实体更强大的财务灵活性。

Honeywell targets a tax-free spin-off to shareowners to be completed by the end of 2025 or early 2026.

霍尼韦尔旨在通过无税分拆向股东分享,预计将于2025年底或2026年初完成。

It follows a broader trend among industrial conglomerates to simplify operations in response to investor demands for clearer business models.

这符合工业集团简化运营的更广泛趋势,以响应投资者对更清晰业务模式的需求。

Honeywell recently increased its annual cash dividend from $4.32 to $4.52 per share.

霍尼韦尔最近将其年度现金股息从每股4.32美元增加到每股4.52美元。

The increase would apply to the fourth-quarter dividend of $1.13 per share, payable on December 6, 2024, to holders of record as of the close of business on November 15.

此增长将适用于每股1.13美元的第四季度股息,于2024年12月6日支付给截至2024年11月15日收市的股东。

Price Action: At last check Tuesday, HON stock was up 1.76% at $206.90 during the premarket session.

价格走势:截至周二最后一次查询,霍尼韦尔股票在盘前交易中上涨1.76%,报206.90美元。

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