https://www.avient.com/sites/default/files/2022-06/Maxxam FR Injection Molding Processing Guide.pdf
Tool Steel • P20 tool steel is acceptable when proper processing and shut down procedures are followed • Chrome plating or PH stainless steel is preferred for all halogen-based systems • The use of stainless steel in hot runner systems is highly suggested • Avoid the use of aluminum when designing production tools Vents • Place vents at the end of fill and anywhere potential knit/weld lines will occur • All vents need to be vented to atmosphere • Cut vent depths to 0.0010"–0.0015" with a minimum 0.040" land length.
Increase the vent depth to 0.010" at 0.100" away from the cavity and vent to atmosphere. • Vents should be placed at the intersection of each 90° bend in the runner system off of the cold slug well and vented to atmosphere PROBLEM CAUSE SOLUTION Black Specks Contamination • Purge barrel with general purpose PP • Verify correct nozzle is being used • Pull screw for cleaning Degraded/overheated material • Decrease melt temperature • Decrease back pressure • Decrease injection speed • Use appropriately sized barrel Brittleness Degraded/overheated material • Decrease melt temperature • Decrease back pressure • Decrease injection speed • Use appropriately sized barrel Gate location and/or size • Relocate gate to nonstress area • Increase gate size to allow higher flow rate and lower molded-in stress Burning Process related • Decrease nozzle and barrel temperatures • Decrease mold temperature • Decrease injection rate Mold design • Clean, widen and increase number of vents • Increase gate size to reduce shear Fibers/Minerals on Surface or Uneven Surface Appearance Melt temperature too low • Increase melt temperature • Increase mold temperature • Increase injection speed Insufficient packing • Increase hold pressure and time • Increase shot size Flash Injection pressure too high • Decrease injection pressure • Increase clamp pressure • Decrease injection rate • Increase transfer position Excess material volume • Adjust transfer position • Decrease pack pressure • Decrease shot size • Decrease injection rate Melt and/or mold too hot • Decrease nozzle and barrel temperatures • Decrease mold temperature • Decrease screw speed Loose clamp • Reset mold height • Increase clamp tonnage Troubleshooting Recommendations PROBLEM CAUSE SOLUTION Incomplete Fill Melt and/or mold too cold • Increase nozzle and barrel temperatures • Increase mold temperature • Increase injection rate Mold design • Enlarge or widen vents and increase number of vents • Check that vents are unplugged • Check that gates are unplugged • Enlarge gates and/or runners • Perform short shots to determine fill pattern and verify proper vent location • Increase wall thickness to move gas trap to parting line Shot size • Adjust transfer position to 98% full • Increase shot size Nozzle Drool Nozzle temperature too hot • Decrease nozzle temperature • Decrease back pressure • Increase screw decompression Shrink Too much shrink • Increase cooling time • Decrease mold temperature Too little shrink • Decrease cooling time • Increase mold temperature Sink Marks Part geometry too thick • Reduce wall thickness • Reduce rib thickness Melt too hot • Decrease nozzle and barrel temperatures • Decrease mold temperature Insufficient material volume • Adjust transfer position • Increase shot size • Increase injection rate • Increase packing pressure Troubleshooting Recommendations (continued) PROBLEM CAUSE SOLUTION Sticking in Mold Overfilled cavity • Decrease injection rate and pressure • Decrease hold pressure • Adjust transfer position • Decrease nozzle and barrel temperatures • Decrease mold temperature • Decrease cooling time Mold design • Increase draft angle • Polish cores in direction of ejection Part is too hot • Decrease nozzle and barrel temperatures • Decrease mold temperature • Increase cooling time Warp Process related • Increase cooling time • Increase melt temperature • Increase pack pressure • Increase pack time • Decrease mold temperature Mold design • Inspect for non-uniform mold cooling Part design • Inspect for non-uniform wall thickness Temperature control unit incorrect temperature • Check settings • Inspect thermocouple Weld Lines Melt front temperatures are too low • Increase pack and hold pressure • Increase melt temperature • Increase injection rate • Increase mold temperature Mold design • Increase gate size • Perform short shots to determine fill pattern and verify proper vent location • Add vents and/or false ejector pin • Move gate location 1.844.4AVIENT www.avient.com Copyright © 2022, Avient Corporation.
https://www.avient.com/sites/default/files/2020-12/therma-tech-processing-guide.pdf
Place vents at the end of fill and anywhere potential knit/weld lines will occur. 2.
Maintain a minimum draft angle of 1° per side. 4 Therma-Tech Troubleshooting Recommendations Problem Cause Solution Incomplete Fill Melt and/or mold too cold • Increase nozzle and barrel temperatures • Increase mold temperature • Increase injection rate • Increase pack and hold pressure • Increase nozzle tip diameter • Check thermocouples and heater bands Mold design • Enlarge or widen vents and increase number of vents • Check that vents are unplugged • Check that gates are unplugged • Enlarge gates and/or runners • Perform short shots to determine fill pattern and verify proper vent location • Increase wall thickness to move gas trap to parting line Shot size • Increase shot size • Increase cushion • Decrease transfer position Brittleness Low melt temperature • Increase melt temperature • Increase injection rate • Measure melt temperature with pyrometer Degraded/ overheated material • Decrease melt temperature • Decrease back pressure • Use smaller barrel/excessive residence time • Decrease screw rpm Gate location and/or size • Relocate gate to nonstress area • Increase gate size to allow higher flow rate and lower molded in stress Fibers on Surface (Splay) Melt temperature too low • Increase melt temperature • Increase mold temperature • Increase injection speed • Increase screw rpm Insufficient packing • Increase pack and hold pressure, and time • Increase shot size • Increase gate size Processing Guide 5 Problem Cause Solution Sink Marks Part geometry too thick • Reduce wall thickness • Reduce rib thickness • Maintain nominal wall thickness Melt too hot • Decrease nozzle and barrel temperatures • Decrease mold temperature Insufficient material volume • Increase shot size • Increase injection rate • Increase pack pressure/time • Increase gate size Flash Injection pressure too high • Decrease injection pressure • Increase clamp pressure • Decrease injection rate • Increase transfer position Excess material volume • Decrease pack pressure • Decrease shot size • Decrease injection rate Melt and/or mold too hot • Decrease nozzle and barrel temperatures • Decrease mold temperature • Decrease screw speed Excessive Shrink Too much orientation • Increase packing time and pressure • Increase hold pressure • Decrease melt temperature • Decrease mold temperature • Decrease injection speed • Decrease screw rpm • Increase venting • Increase cooling time Not Enough Shrink Too little orientation • Decrease packing pressure and time • Decrease hold pressure • Increase melt temperature • Increase mold temperature • Increase injection speed • Increase screw rpm • Decrease cooling time Troubleshooting Recommendations 6 Therma-Tech Troubleshooting Recommendations Problem Cause Solution Burning Melt and/or mold too cold • Decrease nozzle and barrel temperatures • Decrease mold temperature • Decrease injection rate Mold design • Clean, widen and increase number of vents • Increase gate size or number of gates Moisture • Verify material is dried at proper conditions Nozzle Drool Nozzle temperature too hot • Decrease nozzle temperature • Decrease back pressure • Increase screw decompression • Verify material has been dried at proper conditions Weld Lines Melt front temperatures are too low • Increase pack and hold pressure • Increase melt temperature • Increase vent width and locations • Increase injection rate • Increase mold temperature Mold design • Decrease injection rate • Increase gate size • Perform short shots to determine fill pattern and verify proper vent location • Add vents and/or false ejector pin • Move gate location Warp Excessive orientation • Increase cooling time • Increase melt temperature • Decrease injection pressure and injection rate Mold design • Increase number of gates Sticking in Mold Cavities are overpacked • Decrease injection rate and pressure • Decrease pack and hold pressure • Decrease nozzle and barrel temperatures • Decrease mold temperature • Increase cooling time Mold design • Increase draft angle Part is too hot • Decrease nozzle and barrel temperatures • Decrease mold temperature • Increase cooling time 1.844.4AVIENT www.avient.com Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Purchase price multiple rapidly declining on strength of business and synergy capture (1) (1) (1) Financial information is pro forma to include a full year of Clariant Color acquisition ($ in millions) 11.9% 16.2% 2019PF 2021 EBITDA Margins (1) SPECIALTY TRANSFORMATION 7% 46% 66% 86% 100% 0% 20% 40% 60% 80% 100% 2005 2010 2015 2021 2022 PF % o f A dj us te d EB IT D A(1 ) JVs Distribution Performance Products & Solutions Specialty (1) Adjusted EBITDA is EBITDA excluding corporate costs and special items (2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution (2) 38 CULTURE AND PEOPLE 39 OUR SPECIALTY JOURNEY CONTINUES 40 • Dyneema® brings leading technology and brand with the World’s Strongest Fiber™, deep history of application development and strong management team focused on specialty applications • Dyneema® transaction is aligned with our previously stated acquisition goal of expanding our composites and fiber capabilities • Similar to our other technology expansion acquisitions, Dyneema® allows us to leverage our invest-to-grow strategy • We plan to explore a possible sale of our Distribution business.
Whether an additional line at an existing manufacturing plant, or a new facility in a growing region, we ramp-up quickly and cost-efficiently. 43 Capex / Revenue 2022E (%) AVIENT IS ASSET LIGHT Avient Specialty Formulators Other Chemical/Specialty Companies 2 3 2 2 2 3 4 3 3 5 5 7 7 8 11 Av ie nt Av ie nt P F FU L KW R PP G R PM AV Y FM C H U N H XL EC L EM N C E AS H SC L Source: Peer data per Bloomberg market data as of April 21, 2022.
Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2022E (%) Being asset light helps us to generate strong free cash flow that is in line with other specialty formulators.
https://www.avient.com/news/dyneema-exhibit-functional-fabric-fair-and-reveal-groundbreaking-new-technology
They achieved what may have seemed impossible – improved the performance attributes of the world’s strongest fiber™.
The new Dyneema® Woven Composites double down on the core durability, strength, abrasion resistance, and dimensional stability of Dyneema® fiber.
Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world’s strongest fiber™.
https://www.avient.com/resource-center?document_type=59&page=17
Complēt™ Moisture Resistant Long Fiber Thermoplastic Nylons
Complēt™ Moisture Resistant Long Fiber Thermoplastic Nylons provide gradual moisture uptake to maintain structural properties longer
Complēt™ REC Long Fiber Reinforced Thermoplastics
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
Examples include: • Unique technologies that improve the recyclability of products and enable recycled content to be incorporated, thus advancing a more circular economy • Light-weighting solutions that replace heavier traditional materials like metal, glass and wood, which can improve fuel efficiency in all modes of transportation and reduce carbon footprint • Sustainable infrastructure solutions that increase energy efficiency, renewable energy, natural resource conservation and fiber optic / 5G network accessibility Avient employs approximately 8,800 associates and is certified ACC Responsible Care® and a founding member of the Alliance to End Plastic Waste.
EPS (ex Amort) 3.96$ 0.13$ 4.09$ (0.58)$ 3.51$ Pro Forma Leverage (12/31/2022E) Net Debt / Adjusted EBITDA 1.6x 3.4x 2.8x Forecast Dyneema Forecast + Dyneema Sale of Distribution Pro Forma 2022 TWO-YEAR LEVERAGE MODEL 20 3.5x 2.7x 1.6x 2.8x 2.4x 2.0x 2019PF 2020PF 2022E 2022PF 2023E 2024E Dyneema® AcquisitionClariant Color Acquisition (1) Pro forma for the acquisition of the Clariant Color business (2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution, including repayment of senior notes due 2023 and Term Loan (1) (1) (2) OUR SPECIALTY JOURNEY CONTINUES 21 • Dyneema® brings leading technology and brand with the World’s Strongest Fiber™, deep history of application development and strong management team focused on specialty applications • Dyneema® transaction is aligned with our previously stated acquisition goal of expanding our composites and fiber capabilities • Similar to our other technology expansion acquisitions, Dyneema® allows us to leverage our invest-to-grow strategy • The possible sale of our Distribution business also presents potential benefits with respect to leverage and EBITDA margins 7% 46% 66% 86% 100% 0% 20% 40% 60% 80% 100% 2005 2010 2015 2021 2022 PF % o f A dj us te d EB IT D A(1 ) JVs Distribution Performance Products & Solutions Specialty (1) Adjusted EBITDA is EBITDA excluding corporate costs and special items (2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution (2) Healthcare 4% Packaging 8% Consumer 10% Building & Construction 43% Industrial 15% Transportation 14% Energy 4% Telecom. 2% 2006 2022 Pro forma Healthcare 8% Packaging 23% Consumer 21% Building & Construction 10% Industrial 15% Transportation 9% Energy 4% Telecom. 4% Defense 6% END MARKET TRANSFORMATION TO LESS CYCLICAL INDUSTRIES (W ITH DY N EEM A , EX .
Annual Purchases RAW MATERIAL AND SUPPLY CHAIN UPDATE Based on 2021 purchases, excludes Distribution business DYN E E MA ACQ U I S I T I O N 32 15x stronger than steel Reduces weight by 30% vs. other solutions Well-maintained global asset base poised to serve growing demand • Purchase price of $1.48B represents 11.4x multiple of 2022 EBITDA • Acquisition will expand Avient’s composites and fiber portfolio with Dyneema®, the World’s Strongest Fiber™ • $415M sales and 30%+ EBITDA margins; Immediately accretive to pro forma 2022 EPS, adding $0.35 • 1,300 patents globally, ~50% of sales patent protected • 1,000+ employees across global production network and dedicated technology centers • Composites platform will increase from $261M to $680M in revenue and from $49M to $180M in EBITDA Indicates Dyneema® location $175M (42%) $65M (16%) $175M (42%) 2022E Sales By Region ($M) (1) $0.35 EPS excludes intangible amortization (2) Based on 2022 expected results (1) (2) (2) FIT WITH FOUR PILLAR STRATEGY 33 Specialization • Innovation-led organization with tremendous intellectual property value in trademarks, patents and “know-how” • Deep history of application development and premium, leading brand with the World’s Strongest FiberTM Globalization • Global customer base with an established presence across all major geographic regions • Global technology centers complement existing Composites applications and expertise Operational Excellence • Best-in-class safety performance • Well-run and maintained asset base fit to serve future growth • Highly effective and reliable supply chain with emphasis on optimizing service to customers Commercial Excellence • Deep customer relationships extend across the value chain and drive ability to grow • Offer a full suite of services with an active role in design, development and commercialization People Experienced and talented associates with a passion for safety, specialization and winning DYNEEMA® OVERVIEW K E Y I N D U S T R I E S PERSONAL PROTECTION Military • Law Enforcement • First Responders Body Armor • Helmets • Vehicle Protection $215M MARINE & SUSTAINABLE INFRASTRUCTURE Towing / Mooring • Aquaculture • Floating Wind • Offshore Cranes $130M CONSUMER Consumer • Outdoor High Performance • Safety Equipment $70M 34 Figures reflect 2022 expected sales MIFOverview Competition Valuechain & Go-to-market Strategy Innovation Financials TECHNOLOGY 35 1,200 1,300 2,500 Avient Dyneema Combined Patents • True specialty business – the World’s Strongest Fiber™ • Deep history of application development with customers, strongest in the industry • The only UHMwPE (ultra-high molecular weight polyethylene) fiber producer that is backward integrated o Provides innovation advantage through control of all steps of the process • Complementary with our existing reinforced film expertise (PolyStrand) and engineered fiber presences (Fiber-Line) WINNING PROPERTIES Ultra high strength vs. weight Highly flexible Floats on water Chemically inert; no smell/taste and non-toxic High resistance to UV radiation Self-lubricating, with low friction One-of-a-kind technology ® FORMULATION PROCESS 36 • Like Avient, Dyneema® offers similar core competencies around formulation and material science • Technology that combines polymers and fibers to provide specialized, high performing solutions for customers • Design capabilities ensure that applications are highly customized for the specified end use DYNEEMA® IN THE VALUE CHAIN 37 UHMwPE Fiber / Tapes Military Personnel, Law Enforcement Heavy Marine, Offshore Wind Energy and Mooring, Aquaculture Outdoor, Footwear, Apparel, Inflatables • Material Science • Formulation • Service INTERMEDIATE MANUFACTURING (CUSTOMERS) OEM / APPLICATION DEMAND TRENDS 38 • Military spending and near-term demand for higher performing personal protection products (like Dyneema®) expected to increase o European NATO members annual defense spend expected to increase by up to 20%(1) o Japan aiming to almost double defense spending over the next 5 years(2) o Accelerated launch of next generation technology in North America • Policy-driven demand for sustainable energy; growth in floating offshore wind farms which require advanced, durable technology o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations quadrupling over the next five years(3) • Continued investment in aquaculture as a sustainable food source(4) • Strong demand in outdoor high performance space across niche consumer applications aligns with 10% growth assumption for Avient’s Composites portfolio Sources: (1) “Funding NATO”, NATO.int (April 1, 2022) (2) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (April 21, 2022) (3) “Global Wind Report 2021”, Global Wind Energy Council (4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries 39 A L I G N M E N T W I T H S U S T A I N A B I L I T Y G O A L S PRODUCTS AVIENT’S EXISTING COMPOSITES PORTFOLIO D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G M A N U F A C T U R E R S A N D O E M S LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers 40 AVIENT’S COMPOSITES PORTFOLIO SALES AND EBITDA 41 $74 $84 $216 $212 $261 $5 $10 $32 $41 $49 $180 0 50 100 150 200 $- $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 $550 $600 $650 $700 $750 2017 2018 2019 2020 2021 2022E $680 ($ in millions) • Dyneema® acquisition will further improve Composites EBITDA margins to 26% • Dyneema® will complement our existing portfolio with deep formulation expertise, innovative culture and global commercial presence • Composites will continue to be a key growth driver to deliver future revenue growth in excess of GDP (1) Pro forma for the acquisition of Dyneema® (1) SEGMENT DATA U.S. & Canada 50% EMEA 25% Asia 16% Latin America 9% 2021 SEGMENT, END MARKET AND GEOGRAPHY GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 23% Packaging 19% Industrial 16% Building and Construction 10% Telecommunications 4% Energy 2% END MARKET REVENUE (1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs $2,402M $409M $919M $164M $1,631M $94M Sales EBITDA Distribution Specialty Engineered Materials Color Additives and Inks $581M$4,819M (1) Transportation 11% Healthcare 15% 43 Packaging 34% Consumer 21% Healthcare 8% Industrial 16% Building & Construction 10% Transportation 9% Energy 1% Telecommunications 1% C O L O R , A D D I T I V E S & I N K S 2021 REVENUE | $2 .4 BILLION US & Canada 32% EMEA 40% Asia 21% Latin America 7% END MARKET REGION 44 All charts reflect 2021 financials S P E C I A LT Y E N G I N E E R E D M AT E R I A L S Consumer 27% Healthcare 10% Packaging 7% Telecommunications 16% Transportation 11% Industrial 11% Building & Construction 11% Energy 7% 2021 REVENUE | $919 MILLION END MARKET US & Canada 55% EMEA 25% Asia 20% REGION 45 All charts reflect 2021 financials D I S T R I BU T I O N Healthcare 26% Consumer 23% Packaging 5% Industrial 20% Transportation 16% Building and Construction 8% Energy 1% Telecommunications 1% US & Canada 80% Asia 3% Latin America 17% END MARKET REGION K EY SU PPL IER S 2021 REVENUE | $1 .6 BILLION 46 All charts reflect 2021 financials TOTA L C O M PA N Y R E G I O N A L S A L E S BY END MARKET Packaging 30% Consumer 26%Healthcare 13% Industrial 14% Building & Construction 5% Telecommunications 2% Energy 2% Asia (16% of sales) Transportation 8% Packaging 32% Consumer 13% Healthcare 5% Industrial 17% Building & Construction 12% Telecommunications 5% Energy 4% EMEA (25% of sales) Transportation 12% 47 Consumer 25% Healthcare 19% Packaging 10% Industrial 17% Building & Construction 10% Telecommunications 4% Energy 2% US & Canada (50% of sales) Transportation 13% Packaging 38% Consumer 33% Healthcare 8% Industrial 10% Building & Construction 5% Telecommunications 1% LATAM (9% of sales) Transportation 5% All charts reflect 2021 financials Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/news/archives?page=20
Avient to Debut Dyneema® Fiber at JEC World 2023
Avient to debut Dyneema® Fiber at JEC World 2023
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PARIS, Fran
Avient enhances virtual simulation and prediction services for structural applications of its fiber-reinforced polymer materials.
https://www.avient.com/news/dyneema-unveils-groundbreaking-hard-ballistic-product-innovations-enabling-45-weight-reduction-protective-armor-systems
The new products in our third-generation fiber portfolio represent our biggest advancement in personal protection in the last decade,” says Marcelo van de Kamp, Global Business Director for Dyneema®, Avient.
As the only manufacturer of ballistic materials to make both its fiber and UD material in-house in the United States of America, the Dyneema® brand is trusted by elite state and federal forces and is also fully compliant with the Berry Amendment.
Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world’s strongest fiber™.
https://www.avient.com/news/dyneema-changes-game-fabric-engineering-yet-again-new-composite-technology
By harnessing the full potential of Dyneema® fiber with precision-layered construction, we’ve created a fabric that doesn’t just resist wear – it redefines strength and stability in high-performance applications.”
The consensus was clear: the world’s strongest fiber™ just got stronger.
Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world’s strongest fiber™.
https://www.avient.com/resource-center/knowledge-base/article/explore-benefits-laser-marking-plastic-caps-and-closures
When it comes to laser marking, two common types of lasers are fiber lasers and CO₂ lasers.
Fiber Lasers have a wavelength of 1.06 µm and are known for precision and efficiency.
For manufacturers and brand owners of plastic caps and closures, fiber lasers are generally the preferred choice.
2.