Honeywell Completes Sale of U.S. Nylon Carpet Fibers Business to Shaw Industries
MORRIS TOWNSHIP, N.J., Nov. 1 /PRNewswire-FirstCall/ -- Honeywell announced today that it has completed the sale of its U.S. nylon carpet fibers business to Shaw Industries Group, Inc., a subsidiary of Berkshire Hathaway, Inc.
Honeywell sold its nylon fiber manufacturing operations in Anderson, Clemson and Columbia, S.C., and its 50 percent stake in Evergreen Nylon Recycling, based in Augusta, Ga., to Shaw Industries.
As part of that transaction, Honeywell and Shaw also agreed to a long-term supply agreement for Honeywell to supply Shaw with caprolactam and nylon resin, two intermediate chemicals used in the production of nylon fibers for carpeting and other applications.
Honeywell will retain its intermediates operations, which manufacture caprolactam, Aegis® nylon resins for various fiber and plastic applications, Sulf-N® ammonium sulfate fertilizer and other chemicals.
Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com.
Honeywell Specialty Materials, based in Morristown, N.J., is a global leader in providing customers with high-performance specialty materials, including fluorocarbons, specialty films and additives, advanced fibers and composites, customized research chemicals, and electronic materials and chemicals.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.