In today’s briefing:
- Quiddity Leaderboard F100/F250 Sep25: ~10 Regular & Intra-Review Changes Likely in September
- Honeywell Files Form 10 for the Spin-Off of Solstice Advanced Materials (SOLS)
- The Beat Ideas: Scoda Tubes – Ready to Double Capacity, But Can It Deliver?
- The Beat Ideas: SJS Enterprises, A Niche Premiumisation Play
- What’s News in Amsterdam – 28 August (Van Lanschot Kempen | PostNL Dutch politics)
Quiddity Leaderboard F100/F250 Sep25: ~10 Regular & Intra-Review Changes Likely in September
- In this insight, we take a look at the potential index changes for F100 and F250 in the run-up to the September 2025 index rebal event.
- Our latest estimates suggest there could be two regular changes for F100 and six regular changes for F250 during the September 2025 rebalance.
- After that, we expect multiple M&A-related intra-review changes over the next few weeks.
Honeywell Files Form 10 for the Spin-Off of Solstice Advanced Materials (SOLS)
- Honeywell submitted a Form 10 registration statement to the SEC on August 21, formally initiating the planned separation of Solstice Advanced Materials as a standalone company
- The new entity will focus on specialty materials such as refrigerants, semiconductor materials, protective fibers, and healthcare packaging.
- Honeywell retains Aerospace Technologies, Industrial Automation, Building Automation, and the non-Advanced-Materials pieces of Energy & Sustainability Solutions.
The Beat Ideas: Scoda Tubes – Ready to Double Capacity, But Can It Deliver?
- Scoda Tubes is doubling seamless capacity and scaling welded capacity to 20,068 MTPA and 13,150 MTPA by FY27, with trial runs from H2 FY26.
- This expansion positions Scoda to grow 2.5–3x industry pace, capture global demand, and strengthen its competitive edge against larger peers.
- Scoda’s integrated operations and strong export growth improve long-term visibility, making Scoda a potential re-rating candidate.
The Beat Ideas: SJS Enterprises, A Niche Premiumisation Play
- Management reiterated a plan to double revenues in 3–4 years, anchored on premiumisation, global expansion, and synergies from the Walter Pack acquisition.
- Decorative aesthetics is gaining relevance as OEMs push differentiation via design, while exports de-risk domestic cyclicality.
- The growth vision is credible, but execution in integrating Walter Pack, sustaining >25% EBITDA margins, and scaling exports to ~15% of sales will determine delivery.
What’s News in Amsterdam – 28 August (Van Lanschot Kempen | PostNL Dutch politics)
- In this edition: • Van Lanschot Kempen | mixed feelings after a drop in 1H25 results • PostNL | CBB hearing on the back of PostNL’s financial compensation request • Dutch politics | VVD and BBB to continue as ‘hull cabinet’
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