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    Home > Coatings News > Paints and Coatings Market > PolyOne completes the acquisition of Clariant's masterbatch business and announces a new name: Avient

    PolyOne completes the acquisition of Clariant's masterbatch business and announces a new name: Avient

    • Last Update: 2020-07-10
    • Source: Internet
    • Author: User
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    July 1, 2020 - PolyOne Corporation (NYSE: POL), a leading global supplier of specialty polymer materials, services and sustainable solutions, has completed its acquisition of the Klein masterbatches business and Clariant Chemical (India)Plevan also announced that the company had changed its name to AvientRobert MPatterson, Chairman, President and CEO of avient,, said, "We warmly welcome new colleagues and key customers of Clariant's masterbatches business to join usTheir arrival ushered in a new era for the development of our company, which will be renamed Avient todayPatterson continued, "We build a new brand image that brings together two global industry leaders to build a professional company focused on providing sustainable solutions to our customers, creating an ideal working environment for our employees while creating value for all stakeholders." "
    initially announced the acquisition of Clariant's masterbatches business in December 2019Clariant's masterbatches business includes 46 production operations and technology centers in 29 countries, as well as approximately 3,500 employees who will join Avient's Color, Additives and Inkdivision divisionconsolidated net purchase price was $1.44 billion, equivalent to 10.8 times 2019 adjusted EBITDA or 7.5 times the estimated value of synergies"With this acquisition, Avient now expects more than 85 per cent of adjusted EBITDA to come from specialty applications," said MrPatterson,This is a significant increase in the proportion of specialty products from less than 10 per cent when it started a decade agoWhile building a new brand, Avient, together we build a world-class sustainable organization for the future"
    company outlines the key priorities of the new organization:, Adherence to Safety First - Both Pleven and Clariant are ACC Responsible Care ® certified companies that always put the health, safety and well-being of their employees first- Build the best workplace - We always listen to our employees, take positive action, build a high-performance culture, and strive to be the ideal choice for our global workforcepromote inclusion and diversity - all employees are valued and encouraged to present themselves in their daily worklead sustainability - Both Purivan and Clariant are founding members of the Action Alliance to Remove Plastic WasteCommitted to the sustainable development of humanbeing, product, earth and performance, we are committed to meeting today's needs without compromising the interests of future generations, Investing In Innovation - a professional company focused on investment growth, so we ensure that we always focus our resources on materials science in high-growth end markets, ready for long-term value creation, Global Operations, Serving Local - As a truly global company, we have offices and technology centers around the world that efficiently serve our customers and meet their needs anytime, anywherealways highlight stoushing our strengths with service - we provide our customers with exceptional service to build trust, lasting and collaborative relationshipscreates economic benefits for all stakeholders - performance is inextricably linked to our investment in humans, our products and the planetLeverage and create synergies that strengthen Avient's position as a growth professional and ensure that we always create value for our employees, customers, communities and shareholdersMrPatterson concludes, "It is the strong combination of our business that can achieve these goals." Only in our way can we achieve better development"
    rebranded and renamed, the company's stock code changed from "POL" to "AVNT" and the trading began on July 13, 2020From that date, the "POL" trading symbol will no longer be valid
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