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Solstice Advanced Materials completed its spinoff from Honeywell – celebrating its first day Oct. 30 as an independent, publicly traded company.

NJBIZ previously reported on this story. Honeywell had announced plans to separate its Advanced Materials Business into an independent entity. It also said Solstice Advanced Materials – a sustainability focused, specialty chemicals and material pure play – will have its headquarters in Morris Plains. In 2019, Honeywell relocated its global corporate headquarters from Morris Plains to Charlotte, N.C.

At the market open Thursday, shares of Solstice began trading on the Nasdaq Stock Market under the symbol “SOLS.”

“Today marks the beginning of an exciting new chapter for Solstice,” said David Sewell, president and CEO of Solstice Advanced Materials, in a press release. “Our independence positions us to capitalize on powerful secular trends shaping our industry – from regulatory-driven transitions in cooling and building solutions to the rapid proliferation of AI and advanced computing.”

Key things to know about Solstice:

• Brings an advanced materials heritage of more than 130 years
• Positioned to build on its track record of innovation and operational excellence
• Its technologies enable high-performance solutions for critical global sectors, including:
  • HVAC/R
  • Semiconductor manufacturing
  • Data center thermal management
  • Nuclear energy
  • Defense
  • Life sciences

The company launches with nearly 4,000 employees, 24 manufacturing sites, and four R&D centers that serve more than 3,000 customers across 120 countries and territories.

Sewell added, “With our differentiated technologies, unmatched customer partnerships, highly talented global workforce and experienced leadership team, we are ready to unleash our growth potential and unlock meaningful long-term value for our stakeholders.”