Honeywell International Inc. (HON.US) board approves the spin-off of Solstice, expected to debut on NASDAQ at the end of the month.

Honeywell International Inc. (HON.US) announced on Thursday that its Board of Directors has formally approved the spin-off plan for the Solstice Advanced Materials business unit. The spin-off work is proceeding as planned and is expected to be completed on October 30. As of October 17, registered shareholders will receive 1 share of Solstice common stock for every 4 shares of Honeywell International Inc. common stock they hold. Solstice common stock is expected to begin pre-trading on Nasdaq around October 20 under the ticker symbol "SOLSV" and will officially start regular trading on October 30 under the ticker symbol "SOLS." Solstice will become a pure-play company focused on specialty chemicals and materials, with leading technology and top brands, including the Solstice hydrofluoroolefin technology. The business unit generated nearly $4 billion in revenue last year.