Selling wax

Honeywell announced today that it has sold its industrial wax operations in the United States to The International Group for an undisclosed sum.


Honeywell announced today that it has sold its industrial wax operations in the United States to The International Group, Inc (IGI).



Under terms of the transaction, Honeywell sold its wax operations in FarmersValley and Titusville, Pennsylvania, and Marshall, Texas, to Canada’s IGI, a leader in the development and manufacture of petroleum based wax products. Financial terms were not disclosed.



The transaction does not include Honeywell’s Specialty Additives business, which sells A-C performance additives, Rheochem customised lubricants for the vinyl processing industry and Lumilux luminescent pigments.



The sale to IGI completes Honeywell’s divesture of its non-core industrial wax business. In April, Honeywell sold its European and Asian operations to Paramelt.



Honeywell Specialty Materials’ plans to focus investment on select core businesses built around technologies including fluorines, advanced fibres and composites, reagents, electronic materials and barrier solutions.