NEWS
PolyOne becomes Avient on closing Clariant deal
Global compounder PolyOne changed its name to Avient at the beginning of this month. The rebrand- ing follows the closing of its previously-announced acquisition of the colour masterbatch businesses of Clariant and Clariant Chemicals India. The acquired businesses become part of the Avient Colour, Additives & Inks segment. They include 46 manufacturing operations and technology centres in 29 countries and some 3,500 employees. The net purchase price amounted to $1.44bn, with the newly combined operations posting sales of $2.9bn and employing 9,100 employees in 2019. “With this acquisition,
Avient now expects over 85% of adjusted EBITDA to be generated from special- ity applications,” said Robert M Patterson, Chairman,
Robert M Patterson, CEO of Avient (formerly PolyOne)
President and CEO of Avient. “This is up from less than 10% when our special- ity journey began over a decade ago.” n Shortly before the completion of the deal, what was then PolyOne an- nounced expansion of manufacturing of three of its specialty product lines. Its Nymax PIR recycled PA products and ReSound bio-based TPEs, which are
currently made only in Europe, will in future also be produced in the US. And OnFlex TPEs, currently made in the US, will be produced in Europe. Nymex PIR grades contain 20-100% post- industrial materials and are said to offer comparable performance to virgin PA. ReSound bio-based TPEs contain 40-50% bio-renewa- ble content from sugarcane and are said to offer hardness levels and perfor- mance comparable to standard TPEs. OnFlex TPEs are primarily
aimed at automotive applica- tions. OnFlex LO grades meet stringent odour and fogging standards for use in HVAC seals and flaps; OnFlex AF grades are said to provide long-term sealing perfor- mance, reduced noise and vibration, and very good UV resistance and weatherability. �
www.avient.com
Adient amends Yanfeng JV
Automotive seating giant Adient, which employs 81,000 people at 220 plants in 34 countries worldwide, has amended its agreement to form a joint venture with China’s Yanfeng Automotive Trim Systems. This was original- ly concluded on 31 January and is expected to be closed in the last quarter of Adient’s current fiscal year. The amount Yanfeng
will pay Adient for a 30% stake in Yanfeng Global Automotive Interior Systems (YFAI) has been reduced from $379m to $369m, of which $309m will be paid at closing. Adient will be paid an earnout of 30% of YFAI’s distributable earnings in each of YFAI’s fiscal years until the remaining $60m is fully paid. �
www.adient.com �
www.yfai.com
Diener follows Dornscheidt at Messe Düsseldorf
Werner M. Dornscheidt stepped down from heading Messe Düsseldorf Group – home of the K Show – at the end of June. He had been with the group for 37 years, 17 of them as President and CEO. Dornscheidt has been succeeded by Wolfram N. Diener, Managing
Director of operative business since 2018. Also on the board will be Erhard Wienkamp, as Managing Director of fair management, and Bernhard J. Stempfle, Managing Director of finance and technical opera- tions, digital strategy and communication. As well as being the venue for the triennial K show, Messe Düsseldorf hosts multiple global shows in its four ‘global portfolios’ of Processing & Packaging, Plastics & Rubber, Health & Medical Technologies and Metals & Flow Technologies. These include Medica and Interpack, among many others. Last year, Messe Düsseldorf’s sales grew by 28.7% to €378.5m and group earnings after tax more than doubled to €56.6m. �
www.messe-duesseldorf.com
4 INJECTION WORLD | July/August 2020
Werner Dornscheidt (left) has been succeeded by Wolfram Diener as President and CEO
www.injectionworld.com
IMAGE: MESSE DÜSSELDORF
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