https://www.avient.com/sites/default/files/2024-09/OnFlex-Lip gloss tube tip -case study snapshot_0904.pdf
Cosmetic packaging manufacturer COSMETIC PACKAGING MANUFACTURER L I P G L O S S T U B E T I P • Excellent clarity and high fluidity • FDA thermoplastic elastomer • Overmolds to PE as good sealing performance • Met customer’s design requirements, such as a skin-like feel • Offered transparent appearance • Met FDA 21 compliance • Overmolded onto PE compared with silicone OnFlex Thermoplastic Elastomers KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2020-07/versaflex-hc-syringe-plunger-english.pdf
Versaflex HC - Syringe Plunger - English SYRINGE MANUFACTURER D I S P O S A B L E S Y R I N G E P L U N G E R • USP VI and ISO 10993-4,5 compliant • Sterilize by gamma & EtO • Long-term sealing performance • Low coefficient of friction (COF) • Consistent performance across barrel sizes • Provided a formulated solution that met rigorous medical application requirements • Improved global supply continuity • Increased process efficiency by replacing previous thermoset material with TPE Versaflex™ HC 2110-57B KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2020-12/versaflex-cosmetic-droppers-case-study-brief.pdf
VIROSPACK C O S M E T I C D R O P P E R S • Improved chemical resistance • Hardness 45 – 50 • Natural/transparent color • Food contact compliance • REACH compliance • Provided dedicated customer service resources • Reduced cycle time while maintaining similar mechanical properties • Provided a material with easy molding • Enhanced chemical resistance to oil in extreme conditions Versaflex™ Thermoplastic Elastomer KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2023-03/Versaflex - Pallet Non-slip Strips- Application Snapshot.pdf
PALLET MANUFACTURER N O N - S L I P S T R I P S • Improve top deck coefficient of friction • Chemically bond to HDPE and extrude at lower temperatures • Durability to withstand 7-10 year product lifespan • Provided onsite technical support to incorporate a secondary material in the existing manufacturing process • Shortened the product development life cycle by quickly providing a durable material within our existing product portfolio that improved grip • Ensured supply continuity to ease concerns • Trusted provider of sustainable rigid, elastomer, and color polymer solutions to enable product innovation Versaflex™ TPE Formulation KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2023-01/Versaflex-Lip gloss tip brush-Application snapshot.pdf
COSMETIC PACKAGING OEM L I P G L O S S T I P B R U S H • Good chemical resistance • Shore 40A hardness at a 60-degree angle • Natural/transparent color • Can be flocked • Delivered a formulation with good chemical resistance to oil in long-term environments • Provided an easy-to-mold TPE and replaced TPU/TPEE with a better soft touch feel • Offered good adhesion with an epoxy resin glue with no impact on the flocking process Versaflex™ Thermoplastic Elastomers KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2020-12/case-study-versaflex-ce-waterproof-speaker-2.pdf
TOP SPEAKER MANUFACTURER W A T E R P R O O F S P E A K E R G A S K E T • Provide good sealing properties • Protect from water and dust • Reduce production time and costs • Increase design freedom • Provided a low compression set TPE with IP67 ingress protection • Easily prevented ingress of dust and water • Decreased cycle times and reduced overall manufacturing costs • Increased design freedom with overmolding Versaflex™ CE 3120-40 Thermoplastic Elastomer KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2024-08/Versollan TPE-Compression Controller - Case study snapshot.pdf
AVIENT SOLUTION MEDICAL DEVICE MANUFACTURER C O M P R E S S I O N C O N T R O L L E R H O U S I N G G R I P • Good adhesion to PCTG • Comfortable grip combined with ergonomics • Medical regulation compliance • Provided a medical-grade TPE with excellent bonding to PCTG and good chemical resistance • Improved ergonomics and aesthetics with a soft- touch material • Met medical regulation compliance: FDA21 CFR 177.2600 • Delivered good colorability to ensure a stable esthetic KEY REQUIREMENTS OVERMOLDING + REGULATORY SUPPORT LEARN MORE Versollan Thermoplastic Elastomers Copyright © 2024, Avient Corporation.
https://www.avient.com/sites/default/files/2020-07/gls-tpe-closurelogic-cap-liner-spanish.pdf
GLS TPE - Closurelogic Cap Liner - Spanish CLOSURELOGIC GMBH L I N E R P A R A T A P A D E A L U M I N I O • Compliance with food contact regulations • Seals to glass, PET and aluminum bottles • Excellent pressure retention for carbonated beverages • Ofrece un TPE de baja migración con excelentes propiedades organolépticas • Permitió el procesamiento a temperaturas 20 °C más bajas que los materiales comparativos Elastómero termoplástico GLS™ REQUERIMIENTOS CLAVE ¿POR QUÉ AVIENT?
https://www.avient.com/sites/default/files/2020-10/avient-design-impact-protection-project.pdf
Avient Corporation 3 Simplified Drop Test • 65g steel ball • Dropped from 305mm • Onto 3.175mm thickness flat samples Materials Tested • Standard TPE 30 Shore A • TPU alloy 60 Shore A • Damping TPE 32 Shore A VDT reduces bounce Avient Corporation 4 SIMULATION & CALIBRATION E N 1 6 2 1 - 1 L E V E L 2 Image courtesy of Airobag TV https://www.youtube.com/c/AirobagTV/videos Simulation of Impact A weight dropped onto protective element in contact with rigid substrate https://www.youtube.com/c/AirobagTV/videos Avient Corporation 5 SIMULATION & CALIBRATION E N 1 6 2 1 - 1 L E V E L 2 REFINING THE DESIGN D E S I G N A N D M A T E R I A L C O M B I N A T I O N Avient Corporation 6 • A number of different shapes and designs are created and simulated to determine which one works best • Refining to meet EN standard • VDT TPEs can help reach compliance with EN1621-1 level 2 and EN1621-2 level 1 • Optimum protection can be achieved by combining industrial design and engineering Avient Corporation 7 VALIDATION P R O T O T Y P I N G W I T H 3 D P R I N T I N G 3D Printing Validation -15% -10% -5% 0% 5% 10% Density Tensile Strength // Tear resistance // Rebound resilience 2mm 3D Printed VDT vs Injection Molded VDT can be 3D printed for concept evaluation early in the design process SUMMARY Avient Corporation 8 • Enabled a new, compact design with a customized VDT TPE formulation • Improved user comfort and functionality • Fulfilled EN standards • Reduced number of prototyping tools required • Reduced time spent in product development by 40 percent, enabling faster commercialization of product
https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-may-2021-w-non-gaap-recs.pdf
D is t. ) K W R R P M P P G A V Y F U L G C P IF F H X L F M C F O E H U N E C L K R A E M N A S H C E S C L G R A A LB Median: 5%Median: 3% Source: Peer data per Bloomberg market data as of April 27, 2021 Avient reflects 2021 estimated revenue of $4,300M and excludes one-time synergy capture CAPEX ($20M) Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2021E (%) Being asset light helps us to generate strong free cash flow that is in line with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA Median: 84% Median: 77% HIGH FREE CASH FLOW CONVERSION Avient reflects 2021 estimated EBITDA of $560M and excludes one-time synergy capture CAPEX ($20M) Source: Peer data per Bloomberg market data as of April 27, 2021 87 89 87 86 82 81 76 88 87 84 82 81 78 77 77 77 76 73 70 69 50 19 A vi en t K W R P P G R P M A V Y F U L G C P F M C IF F H X L U N V R E C L A S H C E B N R F O E E M N G R A H U N K R A S C L A L B Source: Peer data per Bloomberg market data as of April 27, 2021 Total Enterprise Value / 2021E EBITDA Our current valuation with updated guidance implies an EBITDA multiple that is below specialty formulator peers and the majority of our chemical peers.
With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 28 Avient reflects 2021 estimated EBITDA of $560M OUR VALUATION VERSUS PEERS Avient Specialty Formulators Other Chemical/Specialty Companies 10.2 17.7 16.0 14.9 14.6 11.6 11.1 26.7 24.0 22.8 14.3 12.7 11.5 11.2 11.1 11.0 10.3 10.1 9.5 9.4 8.3 7.0 A vi en t K W R A V Y R P M P P G G C P F U L A L B H X L E C L IF F F M C B N R A S H G R A F O E S C L E M N U N V R C E K R A H U N Median: 11.1xMedian: 14.8x SUMMARY: WHY INVEST IN AVIENT?