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Honeywell is spinning off its nylon and chemicals business into an independent public company called AdvanSix
.
??????? Erin Kane will serve as president and chief executive officer of the new company
.
She has served as Vice President and General Manager of Honeywell's Resins and Chemicals Business Unit since October 2014
.
??????? The new company will include Honeywell's nylon 6 resin and film business, caprolactam (nylon precursor) business, and ammonium sulfate fertilizer and chemical intermediates business, including phenol, acetone and cyclohexanone
.
??????? The transaction is expected to be completed in early 2017
.
??????? Honeywell Chairman and CEO Goldway said on May 12 that the company's $1.
3 billion resin and chemical business is in a leading position in the industry it serves and has a global cost advantage
.
As an independent enterprise, it will have greater flexibility to invest in enhancing its products and services
.
??????? The business's pre-tax profit in 2015 was US$107 million, and the net profit was US$68.
1 million
.
??????? Among them, nylon 6 resin sales reached 312 million US dollars, accounting for about a quarter of the new company's business
.
Honeywell said that the global nylon market has undergone tremendous changes in the past five years.
Chinese companies continue to enter the market and expand global supply
.
Chinese companies currently account for 43% of the global nylon 6 production capacity, much higher than the 26% in 2010
.
??????? Due to rising supply and increased competition, the profit margin of nylon 6 resin has been affected and has reached a historical low
.
??????? In August last year, the DSM Group also sold the majority of its shares in its two subsidiaries that included the nylon resin business to an investment company
.
??????? Honeywell added 90 million pounds of nylon production capacity in the United States last year, including nylon 6 and nylon 6/6/6
.
??????? Honeywell is also the 55th largest film and sheet manufacturer in North America, with an estimated annual sales of US$120 million
.
.
??????? Erin Kane will serve as president and chief executive officer of the new company
.
She has served as Vice President and General Manager of Honeywell's Resins and Chemicals Business Unit since October 2014
.
??????? The new company will include Honeywell's nylon 6 resin and film business, caprolactam (nylon precursor) business, and ammonium sulfate fertilizer and chemical intermediates business, including phenol, acetone and cyclohexanone
.
??????? The transaction is expected to be completed in early 2017
.
??????? Honeywell Chairman and CEO Goldway said on May 12 that the company's $1.
3 billion resin and chemical business is in a leading position in the industry it serves and has a global cost advantage
.
As an independent enterprise, it will have greater flexibility to invest in enhancing its products and services
.
??????? The business's pre-tax profit in 2015 was US$107 million, and the net profit was US$68.
1 million
.
??????? Among them, nylon 6 resin sales reached 312 million US dollars, accounting for about a quarter of the new company's business
.
Honeywell said that the global nylon market has undergone tremendous changes in the past five years.
Chinese companies continue to enter the market and expand global supply
.
Chinese companies currently account for 43% of the global nylon 6 production capacity, much higher than the 26% in 2010
.
??????? Due to rising supply and increased competition, the profit margin of nylon 6 resin has been affected and has reached a historical low
.
??????? In August last year, the DSM Group also sold the majority of its shares in its two subsidiaries that included the nylon resin business to an investment company
.
??????? Honeywell added 90 million pounds of nylon production capacity in the United States last year, including nylon 6 and nylon 6/6/6
.
??????? Honeywell is also the 55th largest film and sheet manufacturer in North America, with an estimated annual sales of US$120 million
.
