Honeywell (NYSE: HON), Morris Plains, NJ, announced plans to spin off its resins and chemicals business into a standalone, publicly- traded company named AdvanSix Inc. 

Erin Kane will serve as president and CEO of AdvanSix upon completion of the transaction. Kane currently serves as vice president and general manager of the resins and chemicals business.

“Our $1.3 billion Resins and Chemicals business enjoys a leading position in the industries it serves and a global cost advantage," said CEO Dave Cote. "It is favorably positioned to continue to achieve global growth as a standalone enterprise, with added flexibility to make capital investments that enhance its offerings and service to customers.”