https://www.avient.com/sites/default/files/2021-12/composite-vibratory-springs-case-study.pdf
CASE STUDY: GORDON COMPOSITES™ VIBRATORY CONVEYOR SPRINGS
Challe
nge Accepted.
Fiber reinforced composites are a popular material of
choice for reliable performance, providing high flexural
strength and excellent resistance to heat, moisture, and
chemical exposure.
Drawing on over 65 years of
composite expertise in manufacturing high performance
archery bow limbs - which require consistent, deep
deflection under high loads each time the bowstring is
pulled - the Gordon Composites team has translated
this technology into continuous fiber reinforced
composite springs that are specifically engineered to
meet the rigorous demands of vibratory conveyors.
https://www.avient.com/sites/default/files/2022-06/Maxxam FR Injection Molding Processing Guide.pdf
Barrel Temperatures °F (°C) PP Mineral-Filled PP Glass-Filled PP HDPE LDPE Rear Zone 360–390 (182–200) 400–420 (204–216) 415–435 (213–224) 400–420 (204–216) 370–390 (188–199) Center Zone 370–400 (188–204) 410–430 (210–221) 425–445 (218–229) 410–430 (210–221) 380–400 (193–204) Front Zone 390–410 (200–210) 420–440 (216–227) 435–455 (224–235) 420–440 (216–227) 390–410 (199–210) Nozzle 400–425 (204–219) 415–435 (213–224) 430–450 (221–232) 430–450 (221–232) 400–425 (204–219) Melt Temperature 400–425 (204–219) 415–435 (213–224) 430–450 (221–232) 430–450 (221–232) 400 - 425 (204–219) Mold Temperature °F (°C) 60–120 (16–49) Pack & Hold Pressure 50–75% of injection pressure Injection Velocity (in/s) 1.0–3.0 Back Pressure (psi) 50–100 Screw Speed (rpm) 30–100 Drying Parameters Hours @ °F (°C) Not typically required.
Drying non-halogenated materials is suggested. 2 hours @ 100 (38) Moisture Range (%) Not required
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/2023-08/AVNT August IR Presentation w NonGAAP Recs%5B40%5D.pdf
&
Canada
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
40%
37%
18%
9% 4% 4%
Building &
Energy Telecom
4
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
1. 6.5% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
WHAT WE DO: WE ARE A FORMULATOR
6
CUSTOM
FORMULATION
JU LY 27 , 2023
W EB CAS T
P RE SE N TATI O N
COMPOSITES PORTFOLIO
D Y N E E M A ® E X P A N D S O U R E N G I N E E R E D F I B E R S A N D P A N E L S
T E C H N O L O G Y
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
8
DEFENSE TELECOMMUNICATIONS ENERGY TRANSPORTATION
Military • Law Enforcement
First Responders
Body Armor • Helmets
Vehicle Protection
Sustainable Infrastructure
Offshore Wind
Electrical Grid Protection
EV Battery Components
Commercial Laminates
Body & Trim • Air Cargo and
Railroad Car Panels
5G Applications
Fiber Optic Cables
Satellite Communications
Connectors and
Components
9
COMPOSITES SERVE DIVERSIFIED
END MARKETS
INDUSTRIAL
Lifting Slings • Aquaculture
High Pressure Pipe
Conveyer Springs
Q 2 P ER FO RM A N CE
Q2 2023 PERFORMANCE VS.
GUIDANCE
12
15.4%
15.9%
Adjusted EBITDA Margin %
Better-than-expected margins
driven by:
• Favorable mix - strong
demand for composite
applications
• Raw material deflation
Q2 EBITDA BRIDGE
13
($ millions)
CAI:
Price / Mix 7)
Deflation 11)
SEM:
Price / Mix 2)
Deflation 6)
Net Price Benefit 26)
Wage and Energy Inflation (10)
Cost Reductions 13)
FX (2)
Q2 2023 Actual $131)
Adjusted
EBITDA
Q2 2022 Pro Forma $ 172)
Demand (68) • Demand conditions vs.
expectations:
LATAM
• Net price benefit remains greater
than wage and energy inflation
• Clariant synergies and reduced
administrative costs
Q2 2023 SEQUENTIAL SALES BY REGION
Q 2 2 0 2 3 v s .
https://www.avient.com/resource-center?document_type=59&document_subtype=0&industry=0&product_family=0&product_name=0&op=FILTER RESULTS&form_id=resource_filter_form&page=23
Advanced Composites Explained
Fiber-Line Engineered Fibers - Products & Applications
Gordon Composites™ and Glasforms™ thermoset composite materials and applications
https://www.avient.com/resource-center?document_subtype=0&document_type=59&form_id=resource_filter_form&industry=0&op=FILTER RESULTS&product_family=0&product_name=0&page=23
Advanced Composites Explained
Fiber-Line Engineered Fibers - Products & Applications
Gordon Composites™ and Glasforms™ thermoset composite materials and applications
https://www.avient.com/sites/default/files/2022-03/Nymax BIO Bio-based Polyamide Solutions Product Bulletin.pdf
These bio-derived and
glass fiber-reinforced formulations utilize 16–47%
natural filler from renewable plant sources,
including corn, straw, and wheat.
The Nymax BIO portfolio includes six grades
that offer lower warpage plus excellent surface
appearance and colorability compared with
traditional PA66 glass fiber-filled materials.
KEY CHARACTERISTICS
• Bio-polymers that reduce the carbon
footprint value significantly
• Achieves equivalent performance as PA66
glass fiber-filled materials
• Excellent surface appearance and colorability
• Lower warpage compared with PA66 glass
fiber-filled materials
• Cost-effective alternative to PA66 glass
fiber-filled materials
• Excellent dimensional stability and property
retention rate after water uptake
• Commercially available in Asia
APPLICATIONS
Nymax BIO formulations can be applied to reach
sustainability goals in demanding applications
including:
• Transportation • Consumer goods
• Industrial • Building and construction
PRODUCT BULLETIN
1.844.4AVIENT
www.avient.com
Copyright © 2022, Avient Corporation.
https://www.avient.com/knowledge-base/article/lightweight-strong-and-custom-designed-perform?ind[]=6595
Explore the critical performance advantages of composite sandwich panels
They are custom engineered to meet specific performance requirements: core thickness can be varied to change stiffness, core materials can be selected to achieve weight targets, fiber choice can modify stiffness-to-weight ratio, and the polymer matrix choice affects strength.
Webinar: Critical Performance Advantages of Composite Sandwich Panels
https://www.avient.com/knowledge-base/article/lightweight-strong-and-custom-designed-perform?sust[]=1165
Explore the critical performance advantages of composite sandwich panels
They are custom engineered to meet specific performance requirements: core thickness can be varied to change stiffness, core materials can be selected to achieve weight targets, fiber choice can modify stiffness-to-weight ratio, and the polymer matrix choice affects strength.
Webinar: Critical Performance Advantages of Composite Sandwich Panels
https://www.avient.com/sites/default/files/2025-05/Advanced Composites Utility Poles Product Overview.pdf
Compared to traditional pole materials, fiber reinforced polymer (FRP) composites are more durable, require less maintenance, and provide a longer service life.
Our pultruded composite materials are proudly made in the USA in Birmingham, Alabama.
FRP data are from tests--nominal fiber stress is at 5% LEL; modulus of elasticity is at mean.
https://www.avient.com/sites/default/files/resources/AVNT Fermium Conference - May 2023 w NonGAAP Recs.pdf
Examples include:
• Dyneema®, the world's strongest fiber™, enables
unmatched levels of performance and protection
for end-use applications, including ballistic
personal protection, marine and sustainable
infrastructure and outdoor sports
• 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 is a certified ACC Responsible Care® and a
founding member of the Alliance to End Plastic Waste.
FX -11%
FX -3%
Total Avient -14%
YoY Comparison against 2022 pro forma results
• Aging infrastructure driving need for greater
technological advancements and upgrades
• Increased focus on strength and capacity
of electrical grid plays into further adoption
of composites into the market
UV, weather-resistance, customized
capabilities
Best-in-class customer responsiveness
Local high-quality manufacturing,
unparalleled breadth of portfolio
Expanding position in insulators, utility
poles, crossarms, and wind energy
Avient Confidential 15
ENERGY
15
• Fiber-optic investments from AT&T, Corning,
Commscope continue to drive industry toward
innovation
• $42B BEAD program in Infrastructure Bill to
increase cable deployments; well-positioned to
capitalize on “Made in America” requirement and
“last mile” buildout
Flame retardance, weather-resistance enables
faster, safer, more reliable connections
Local manufacturing, unparalleled breadth of
portfolio
Expanding position in insulation for wire
jacketing, 5G buildout
TELECOMMUNICATIONS
Source: U.S.
National Defense
budget of $842 billion submitted to Congress
in Q1 2023
• European NATO members annual defense
spend expected to increase by up to 20%
Dyneema® is the world’s strongest fiber™
One of the highest strength to weight
ratios of any material on Earth
Direct relationships with industry leading
armor manufacturers
Resistant to most chemicals, UV, and
moisture to handle any environment
Avient Confidential 17
DEFENSE
Source: US Department of Defense, defense.gov, NATO17
Source:
TRANSPORTATION
• Increased EPA regulations requiring
improved fuel efficiency, enabled in part by
lower-weight vehicles
• Automakers preparing for 2/3 of U.S.
vehicles to be 100% electric by 2032
Lightweight panels that establish both
strength and stiffness resulting in
decreased energy usage, lower emissions
Long-lasting Color applications to resist
UV exposure, temperature fluctuations
and exceed the stylistic requirements of
global automakers
18
$130
$530
$0.60
$2.40
2023 GUIDANCE
19
Sales Adjusted EBITDA
$845
$3,400
Adjusted EPS
(in millions) (in millions)
CASH FLOW / LEVERAGE
20
• Maintaining free cash flow
and leverage guidance from
February earnings call
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability,
primarily in Europe
($ millions) 2023E
Cash Flow from Operating Activities 350$
Less:
Run-Rate CapEx (110)
CapEx for IT System Upgrade (25)
CapEx for Restructuring (15)
Total CapEx (150)
Free Cash Flow 200$
Adjusted EBITDA 530$
Net Debt / Adjusted EBITDA 2.9x
LONG-TERM REVENUE GROWTH DRIVERS
Growth Drivers
Long-Term
Growth Rate
Sustainable Solutions 8–12%
Healthcare 8–10%
Composites 10%
Asia / LATAM 5%
Other (GDP growth) 2–3%
Avient 6.5%
21
Sustainable
Solutions
32%
Asia / LATAM
Composites
Other (GDP
Growth)
39%
• Virtual presentation to be held
September 20, 2023
• The company will be
conducting an investor-focused
presentation around our
sustainability solutions portfolio
Avient Confidential 22
SUSTAINABILITY
INVESTOR DAY
22
$340M
$405M
$455M
$550M
$790M
$915M
2016 2017 2018 2019 2020PF** 2021 2022PF***
SUSTAINABILITY FOR A BETTER TOMORROW
Revenue From Sustainable Solutions* 2016-2022
($ in millions)
Organic Future Growth Revenue Assumptions From Sustainable Solutions: 8 - 12%
23
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
**2020 is Pro Forma to include full year of the Clariant Color business
***2022 is Pro Forma for the acquisition of Avient Protective Materials and the divestiture of Distribution
$1,175M
Lightweighting
Eco-Conscious
Recycle Solutions
VOC Reduction
Sustainable Infrastructure
Human Health & Safety
Reduced Energy Use
Bio-polymers
SUSTAINABILITY NEEDS BY MARKET
B&C
• Eco-Conscious
• Carbon footprint
• Resource
conservation
• Carbon footprint
• Bio based content
• Eco-Conscious
Automotive
• Light weighting
• Recycled Content
• VOC reduction
• Recycle Solutions
• Carbon Footprint
Packaging
• Recycle Solutions
• Food waste
reduction
Common Theme: CO2 Emission Goals
Increasing Single-Use Plastic Regulation
24
INVESTING
IN INNOVATION
S U S T A I N A B I L I T Y P O R T F O L I O
25
AP P EN D IX
28
RAW MATERIAL 2022 ANNUAL PURCHASES
Performance
Additives
Pigments
12%
TiO2
Dyestuffs
2%
Polyethylene
Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
• Cost inflation
decelerating,
particularly for
hydrocarbon-based
raw materials
2022 pro forma results for the acquisition of Avient Protective Materials
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
24%
Building and
END MARKET REVENUE
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
9%
30
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .4 B ILL ION
34%
38%
END MARKET REGION
31
34%
21%
Building &
1% Energy
2%
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
2022 PRO FORMA REVENUE | $1 .3 B ILL ION
END MARKET
52%
35%
REGION
32
19%
8%Industrial
9% Defense
Building &
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
27%
14%
17%
Building &
(37% of sales)Transportation
24%
12%
Building &
US &
Canada
(40% of sales)
56%
23%
Building &
1%
LATAM
(5% of sales)
3%
33
PEER COMPARISONS
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,400 and estimated run-rate CAPEX of $110M.
35
4 4
5 5 5
6
7
9
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.