Company:Avient Corporation
| Formerly | PolyOne Corporation (2000–2020) |
|---|---|
| Type | Public |
| Industry | Plastics |
| Founded | August 31, 2000 |
| Headquarters | Avon Lake, Ohio, U.S. |
Key people | Ashish Khandpur, CEO |
| Products | Specialty polymer materials and compounds |
| Revenue |  US$3.28 billion (2023) |
Number of employees | 9,700 (2022) |
| Website | avient |
| Footnotes / references [1] | |
Avient Corporation is a global manufacturer of specialized polymer materials headquartered in Avon Lake, Ohio. Its products include thermoplastic compounds, plastic colorants and additives, thermoplastic resins, vinyl resins, thermoplastic composites and specialty thermoset composite materials.
History
PolyOne was formed on August 31, 2000 from the consolidation of The Geon Company (Geon) and M.A. Hanna Company (Hanna). The merger between M.A. Hanna Company and The Geon Company in 2000 produced PolyOne Corporation.[2] In 2009, PolyOne was ranked #731 on the Fortune 1000 list and included in the S&P 600 investment index.[3]
Hanna was formed in 1885 as a privately held company focused on mining and shipping and became publicly held in 1927. In the mid-1980s, Hanna began to divest its historic mining and shipping businesses to focus on polymers. Hanna purchased its first polymer company in 1986.[citation needed]
Geon’s roots date back to 1927 when BFGoodrich scientist Waldo Semon produced the first usable vinyl polymer, marketed under the trade name “Geon”. In 1933, Waldo Semon was granted US Patent for PVC (U.S. Patent No. 1929453),[4] and in 1948, BFGoodrich created a vinyl plastic division that was subsequently spun off through a public offering in 1993, creating Geon as a separate publicly held company.[citation needed]
In October 2019, PolyOne sold its performance products and solutions business unit, renamed to GEON Performance Solutions, to SK Capital.[5][better source needed]
In 2020, PolyOne acquired a division of Clariant and rebranding to the name Avient,[6][better source needed] and in 2021 acquired Magna Colours Ltd. for $48 million.[7][better source needed]
In April 2022, Avient Corporation has entered into an agreement with Royal DSM to purchase the DSM Protective Materials business for a purchase price of $1.485B.[8]
References
- ↑ "PolyOne". http://fortune.com/fortune500/polyone/.
- ↑ Case Western Reserve, Encyclopedia of Cleveland History: M. A. Hanna
- ↑ "Fortune 500: 731. PolyOne". https://money.cnn.com/magazines/fortune/fortune500/2009/snapshots/5021.html.
- ↑ "Hall Of Fame - Inventor Profile". http://www.invent.org/hall_of_fame/131.html.
- ↑ "SK Capital Closes Acquisition of Performance Products & Solutions from PolyOne, Creating New Leader in Plastic Compounds Named GEON Performance Solutions | SK Capital Partners". https://skcapitalpartners.com/sk-capital-closes-acquisition-of-performance-products-solutions-from-polyone-creating-new-leader-in-plastic-compounds-named-geon-performance-solutions/.
- ↑ "PolyOne Completes Clariant Masterbatch Acquisition, Announces New Name: Avient Corporation | Avient". https://www.avient.com/polyone-completes-clariant-masterbatch-acquisition-announces-new-name-avient-corporation.
- ↑ "Avient Expands Sustainable Solutions Portfolio with Acquisition of Magna Colours LTD. | Avient". https://www.avient.com/investor-center/news/avient-expands-sustainable-solutions-portfolio-acquisition-magna-colours-ltd.
- ↑ "Avient agrees to acquire DSM Protective Materials for $1.485B | Seeking Alpha". https://seekingalpha.com/news/3824569-avient-agrees-to-acquire-dsm-protective-materials-for-1485b.
External links
- Business data for Avient Corporation:
- Avient official website
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