AVIENT
Q2 adjusted operating income surges 10% / Second round bidding for distribution business seen in August / Dyneema purchase could close in September
Additives for recycling applications (Photo: Avient)
US compounder Avient (Avon Lake, Ohio; www.avient.com) – formerly PolyOne – posted a 5% year-on-year sales growth at USD 1.3 bn (EUR 1.3 bn) in the second quarter, while adjusted operating income jumped 10% to USD 134 mn, with better-than-expected results in the Americas more than offsetting the extended Covid lockdowns in Shanghai, China.

The company expects its acquisition of DSM’ Protective Materials business, including the Dyneema activities (see Plasteurope.com of 28.04.2022), to close as early as 1 September 2022. A second round of bidding for Avient’s distribution business, the potential sale of which was announced in April, is anticipated in August, with the company noting it is “encouraged” by the level of interest it has received from several potential buyers. No financial details were disclosed for the business, the top performer in Q2, with sales and operating income expanding, respectively, 10% to USD 443 mn and 13% to USD 27 mn.

Avient said significant raw material price inflation and tight inventory continued in the second quarter, although at a slightly lesser rate compared to the first quarter. It held on to its 2022 forecast in anticipation of demand improvement in Asia and continuing growth in the Americas.

Quarterly sales at Colour/Additives/Inks business increased 4% to USD 649 mn while operating income jumped 9% to USD 94 mn. At Specialty Engineered Materials, sales were 1% higher at USD 244 mn. Operating income was flat at USD 37 mn.

Avient separately said it launched its PCR Color Prediction Service for polyolefins and PET resins, and the company’s new polyolefin antioxidants, Cesa Nox A4R Additives for Recycling. These sustainability solutions are designed for packaging materials with post-consumer recycled content (PCR).
02.08.2022 Plasteurope.com [250856-0]
Published on 02.08.2022
Avient: Umsatz steigt auf neuen QuartalsrekordGerman version of this article...

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