Avient Corporation

Avient Corporation is a global manufacturer of specialized polymer materials headquartered in Avon Lake, Ohio. Its products include thermoplastic compounds, plastic colorants and additives, thermoplastic resins, vinyl resins, thermoplastic composites and specialty thermoset composite materials.

Avient Corporation
FormerlyPolyOne Corporation
(2000–2020)
TypePublic
IndustryPlastics
FoundedAugust 31, 2000 (2000-08-31)
HeadquartersAvon Lake, Ohio, U.S.
Key people
Robert M. Patterson, CEO
ProductsSpecialty polymer materials and compounds
RevenueIncrease US$3.28 billion (2023)
Number of employees
9,700 (2022)
Websiteavient.com
Footnotes / references
[1]

History

PolyOne was formed on August 31, 2000 from the consolidation of The Geon Company (Geon) and M.A. Hanna Company (Hanna). The merger between M.A. Hanna Company and The Geon Company in 2000 produced PolyOne Corporation.[2] In 2009, PolyOne was ranked #731 on the Fortune 1000 list and included in the S&P 600 investment index.[3]

Hanna was formed in 1885 as a privately held company focused on mining and shipping and became publicly held in 1927. In the mid-1980s, Hanna began to divest its historic mining and shipping businesses to focus on polymers. Hanna purchased its first polymer company in 1986.

Geon’s roots date back to 1927 when BFGoodrich scientist Waldo Semon produced the first usable vinyl polymer, marketed under the trade name “Geon”. In 1933, Waldo Semon was granted US Patent for PVC (U.S. Patent No. 1929453),[4] and in 1948, BFGoodrich created a vinyl plastic division that was subsequently spun off through a public offering in 1993, creating Geon as a separate publicly held company.

In October 2019, PolyOne sold its performance products and solutions business unit, renamed to GEON Performance Solutions, to SK Capital.[5]

In 2020, PolyOne acquired a division of Clariant and rebranding to the name Avient,[6] and in 2021 acquired Magna Colours Ltd. for $48 million.[7]

In April 2022, Avient Corporation has entered into an agreement with Royal DSM to purchase the DSM Protective Materials business for a purchase price of $1.485B.[8]

References
  1. "PolyOne". Fortune. Archived from the original on 2019-02-15. Retrieved 2019-02-14.
  2. Case Western Reserve, Encyclopedia of Cleveland History: M. A. Hanna
  3. "Fortune 500: 731. PolyOne".
  4. "Hall Of Fame - Inventor Profile". Archived from the original on 2010-07-28. Retrieved 2011-09-02.
  5. "SK Capital Closes Acquisition of Performance Products & Solutions from PolyOne, Creating New Leader in Plastic Compounds Named GEON Performance Solutions | SK Capital Partners".
  6. "PolyOne Completes Clariant Masterbatch Acquisition, Announces New Name: Avient Corporation | Avient".
  7. "Avient Expands Sustainable Solutions Portfolio with Acquisition of Magna Colours LTD. | Avient".
  8. "Avient agrees to acquire DSM Protective Materials for $1.485B | Seeking Alpha".
  • Business data for Avient Corporation:
  • Avient official website
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.