https://www.avient.com/resource-center?document_subtype=117&document_type=59&page=1
Power Saw Soft Protective Cover - Case Study
Explore how floating solar power stations get weathering protection from anti-uv color concentrate
https://www.avient.com/products/polymer-additives/repellant-antimicrobial-additives/cesa-withstand-antimicrobial-additives
Protected membranes from effects of flora, fungi and algae
Protect your finished part with GLS™ TPEs with imbedded additives
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=35
OnCap™ Light Shield Damage Protection - White Paper
Information on the application and use of light shield additives to protect products from light damage
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=7
Radiation Protection Aprons
CORE™ Vinyl Plastisols provided a plastisol solution to enhance performance and processing for radiation protection aprons
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=35
OnCap™ Light Shield Damage Protection - White Paper
Information on the application and use of light shield additives to protect products from light damage
https://www.avient.com/sites/default/files/2024-11/reSound REC Recycled Content TPEs Selection Guide.pdf
reSound™ REC
VX2800-0001
reSound™ REC
VX2800-0001
I 65A Black
reSound™ REC
VX2800-0002
I 65A Black
reSound™ REC
VX0100-0001
AR I 80A Black
Recycled Content PIR PIR PIR PIR
Recycled Content, % 25% 25% 40% 30%
Recycled Source
Carpet Backing,
Nonwovens, Films,
Super Sacks
Carpet Backing,
Nonwovens, Films,
Super Sacks
Proprietary Blend Proprietary Blend
Hardness, Shore A 65 65 65 80
Color Natural Black Black Black
Specific Gravity 0.88 0.89 0.88 1.05
Tensile Strength, PSI 784 788 1023 1400
Elongation at Break, % 687 662 673 700
Compression Set
@ Room Temperature 29 27 30 –
OM Substrate PP PP PP PC, ABS,
Processing IM or OM IM or OM IM or OM IM or OM
Agency Rating – – – –
reSound™ REC
VX2800-9003
C 47A Natural
reSound™ REC
VX2800-9004
C 54A Natural
reSound™ REC
VX2800-0001
C 65A Black
Recycled Content PCR PCR PCR
Recycled Content, % 25% 25% 25%
Recycled Source Transportation Transportation Ocean-bound
Plastic
Hardness, Shore A 47 54 65
Color Natural Natural Black
Specific Gravity 0.94 0.95 0.89
Tensile Strength, PSI 250 311 900
Elongation at Break, % 585 581 670
Compression Set
@ Room Temperature – – 25
OM Substrate PP PP PP
Processing IM or OM IM or OM IM or OM
Agency Rating – – –
Automotive Testing* – – –
*Additional testing can be performed to confirm specific customer requirements.
https://www.avient.com/sites/default/files/2021-09/zodiac-aquarius-product-bulletin-and-color-card.pdf
Aquarius™
Fluorescent Yellow
Aquarius™
Red B
Concentrate
Blue R
Concentrate
Aquarius™
Fluorescent Red
Orange
Concentrate
Blue G
Concentrate
Aquarius™
Fluorescent Pink
Yellow R
Concentrate
Violet
Concentrate
Aquarius™
Fluorescent Violet
Yellow G
Concentrate
Black
Concentrate
Color Chips:
Printed results may vary
based on production
methods, such as ink
film thickness, opacity,
pigment selection
and substrate.
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
Outdoor High Performance) 8 18% 3
Growth in Asia / LATAM 6 3% 2
Other 100 19% 5
Sub-total $1,327 14% $146
Outdoor High Performance Impact (5) (3)
Wage Inflation and Overtime (11)
Other Supply Chain Costs (4)
Synergies 5
Incentives, Other Employee Costs 8
FX (28) (5)
Q1 2022 $1,294 11% $136
Q1 2022 SALES AND OPERATING INCOME
(TOTAL COMPANY)
6
Sales Growth Rate
Operating
Income$ millions
EBITDA
Q1 EBITDA BRIDGE
7
Price increases more than
offset raw material and
supply chain impacts
Q1 2021 $ 161
Demand (23)
$ millions
CAI:
Price / Mix 77
Inflation (54)
SEM:
Price / Mix 41
Inflation (26)
Distribution:
Price / Mix 84
Inflation (82)
Net Price Benefit 40
Wage Inflation and Overtime (11)
Other Supply Chain Costs (4)
Synergies 5
Incentives, Other Employee Costs 8
FX (5)
Q1 2022 $ 171
China Lockdowns / Russia Impact $ (7)
Transportation (7)
Outdoor High Performance (3)
Q1 EPS BRIDGE
8
Q1 2021 - Adjusted EPS 0.89$
CAI 0.08
Specialty Engineered Materials 0.06
Distribution 0.00
Corporate Costs 0.02
F/X (0.04)
Segment OI 0.12
Tax Rate (0.02)
Q1 2022 - Adjusted EPS 0.99$
10
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
11
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
12 Figures reflect 2022 expected sales
MIFOverview Competition Valuechain &
Go-to-market Strategy Innovation Financials
TECHNOLOGY
13
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
14
• 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
15
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
16
• 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 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(2)
• Continued investment in aquaculture as a sustainable food source(3)
• 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) “Global Wind Report 2021”, Global Wind Energy Council
(3) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries
17
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
18
AVIENT’S COMPOSITES PORTFOLIO
SALES AND EBITDA
19
$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
• 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®
DISTRIBUTION DIVESTITURE
CONSIDERATIONS
DISTRIBUTION HIGHLIGHTS
21
$21
$57
$69
$94
$105
0
50
100
150
2006 2011 2016 2021 2022E
• Leading North American Distribution business with
longstanding blue-chip supplier and customer
relationships
• Commercial excellence and regulatory knowledge have
grown healthcare portfolio to over 25% of sales and
positioned business for long-term growth
• Highly specialized portfolio of engineered polymers along
with sustainable solution offerings
• Leading digital capabilities through Avient Now, allowing
enhanced visibility and 24/7 interface with customers
• 98% free cash flow conversion drives greater than 30%
after-tax return on invested capital (ROIC)
• Potential divestiture allows us to remain modestly
leveraged with net debt to adjusted EBITDA expected to
be 2.9x and positions us for further specialty growth in the
future
EBITDA (in $M)
DYNEEMA® TRANSACTION OVERVIEW
22
- $1.48B net purchase price
- Represents 11.4x expected 2022 EBITDA
- Committed financing in place
- Permanent financing to be combination of available cash on-hand, new
Senior Unsecured Notes, new Senior Secured Term Loan
- Potential proceeds from Distribution divestment could be used to pay down
near-term maturing debt
- Closing expected in second half of 2022, subject to regulatory
approvals and certain customary closing conditions
Transaction
Value
Financing
Closing
Conditions /
Timing
CAPITAL STRUCTURE / LEVERAGE
23
• Financing commitments secured from Morgan Stanley
and J.P.
https://www.avient.com/knowledge-base/article/what-s-difference-fillers-reinforcements
Fumed synthetic silica is used for reinforcement and for infrared-light absorption in greenhouse films.2
They also act as semi-conductors in cables and protect electronics from interference.
For example, ESD protection is important in the production and packaging of electronic components.
https://www.avient.com/knowledge-base/article/what-s-difference-fillers-reinforcements?ind[]=21506
Fumed synthetic silica is used for reinforcement and for infrared-light absorption in greenhouse films.2
They also act as semi-conductors in cables and protect electronics from interference.
For example, ESD protection is important in the production and packaging of electronic components.