https://www.avient.com/sites/default/files/2020-09/ccg-overview-cn.pdf
Colorant Chromatics-中文版
高温聚合物的着色料与混合料
历史简介
Colorant Chromatics 于1979年在瑞典成立,并在公司所有者的
仓库中开始生产含氟聚合物色母料。
Colorant Chro-matics在要
求较高的情况下选择性能最佳颜料和添加剂方面有着丰富的经验。
Colorant Chromatics 交联配方为高端航空航天工
业提供可靠、一致的质量。
https://www.avient.com/products/polymer-colorants/colorant-dispersions/stan-tone-wdn-water-based-dispersions
Consistent color and tint strength
Colorant Dispersions
Colorant and additive dispersions that provide enhanced performance and color consistency
https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
T RAN S FO R MAT IO NAL
OVE RV IE W
Avient Protective
Materials
Dyneema
®
RECENT TRANSACTIONS
Acquired Divested
$1.45 B $0.95 B
4
Distribution
UPDATED CAPITAL STRUCTURE
& LIQUIDITY
• Proceeds from completed
sale of Distribution used to
pay near-term maturing debt
to strengthen balance sheet
• Fixed/floating debt ratio of
~55/45
• Proven track record of
deleveraging following major
acquisitions through strong
free cash flow generation
• 2022 pro forma net
debt/adjusted EBITDA
expected to be 3.1x
$725 $725
$575 $500
$600
$525
$650
$650
$600
Capital Structure
Cash
$544
Undrawn
Revolver
$250
Liquidity
$3.15B
$2.40B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
2023 Notes
After Dyneema
Acquisition
After Distribution
Divestiture
$794M
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
5
PREVIOUS TRANSACTIONS
Performance
Solutions
Products &
$0.8 B
COLOR
$1.4 B
Acquired (2020)Divested (2019)
6
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• $75 million of realized synergies anticipated in 2022
• Acquisition completed on July 1, 2020 for $1.45 billion.
Purchase price multiple rapidly declining on strength of
business and synergy capture
7
$133
$201
2019PF 2022E
7
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
8
Distribution
DSM Protective
Materials
BOLT-ON ACQUISITION HISTORY
9
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
100%
0%
60%
80%
100%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
10
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
END MARKET FOCUS ON LESS CYCLICAL
INDUSTRIES
11
14.8%
17.6%
21.0%
2018 2020 2022 PF
1.8%
2006
15.3%
16.2%
17.0%
2018PF 2020PF 2022E
CAI
2.7%
2006
SEM
SPECIALTY EBITDA MARGIN EXPANSION
12
• Portfolio transformation
accelerates growth in less
cyclical, higher margin end
markets
• Investments in our
composites platform
continue to drive margin
expansion
(1) (1)
(1) 2018 and 2020 financial information is pro forma to include a full year of Clariant Color acquisition
PORTFOLIO EVOLUTION OVER THE YEARS
13
Adj.
https://www.avient.com/news/polyone-launches-new-textile-printing-technology-china-wilflex-epic-rio-non-phthalate-ink-mixing-system
EPIC Rio inks are PANTONE® approved, with an extended color range of 18 single pigment finished ink mixing components, which balance color accuracy, vibrancy and opacity for peak press performance and color design.
As the most opaque finished color system in the Wilflex Ready-For-Use (RFU) range, the EPIC Rio system helps screen printers save ink and money by achieving color-on-press quicker, even with fine mesh-counts.
The matches to Pantone color standards are spot on.
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=6
Colorant Chromatics™ PES Green Color Concentrate provide customizable high-performance solution able to withstand multiple cleaning cycles with detergents
Colorant Chromatics™ and BASF Ultrason® high-performance polymers in metallic colors provided lightweight and food contact-approved colors solutions for molders
Colorant Chromatics™ PES Color Concentrate helped prevent color deviation while reducing weight for improved sustainability
https://www.avient.com/resource-center?document_type=59&page=6
Colorant Chromatics™ PES Green Color Concentrate provide customizable high-performance solution able to withstand multiple cleaning cycles with detergents
Colorant Chromatics™ and BASF Ultrason® high-performance polymers in metallic colors provided lightweight and food contact-approved colors solutions for molders
Colorant Chromatics™ PES Color Concentrate helped prevent color deviation while reducing weight for improved sustainability
https://www.avient.com/knowledge-base/article/exploring-world-fluoropolymers?ind[]=21509
Coloring Fluoropolymers
Color concentration and viscosity of the carrier can be fine-tuned to maximize dispersion and color consistency.
Color masterbatch formulations can produce opaque colors or can be developed with the appropriate pigment particle size and loading to enable translucent colors.
https://www.avient.com/ink-chemistries-tips
Ensure all ink lot numbers and color mixes are accurately recorded.
Be sure to color code containers, squeegee handles, flood bars, pallet knives and any other equipment for chemistry type.
Screen Printing Color System Bases: Wilflex™ Epic™
https://www.avient.com/investor-center/news/polyone-begin-thermoplastic-elastomer-production-india
currently produces color and additive concentrates and engineered polymer solutions at the
answers customers' desire for a domestic supplier able to offer expertise in color, engineered materials and thermoplastic elastomers," said
PolyOne opened a new facility in Pune in 2014, initially focused on the production of colorant and additive concentrates to serve end markets such as transportation, electronics & electrical, healthcare, wire & cable, and packaging.
https://www.avient.com/company/company-officers
Say-Eng Lee, Vice President and General Manager, Color, Additives and Inks Asia
Norbert Merklein, Vice President and General Manager EMEA, Color, Additives and Inks
Woon Keat Moh, Senior Vice President and President of Color, Additives and Inks