Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable material solutions, has completed its purchase of the protective materials business of DSM (including the Dyneema® brand), which will now be called Avient Protective Materials and reported within the company's Specialty Engineered Materials segment.
"We proudly welcome our newest associates and valued customers joining us today," said Robert M. Patterson, Chairman, President and Chief Executive Officer, Avient Corporation. "This next step in our specialty transformation expands our material offerings to provide solutions that require the highest level of performance in applications where failure is not an option."
The foundation of Avient Protective Materials is the renowned technology and globally admired brand of Dyneema®, the World's Strongest Fiber™. The ultra-lightweight specialty fiber is 15 times stronger than steel and is used in demanding applications, such as ballistic personal protection, marine and sustainable infrastructure, renewable energy, industrial protection and outdoor sports. The business includes six production facilities, four R&D centers and approximately 1,000 employees located around the world.
"With the addition of the Protective Materials business, we have significantly increased the size of our fastest growing platform and firmly established Avient as a leader in the advanced composites space," said Chris Pederson, President, Specialty Engineered Materials, Avient Corporation. "We look forward to collaborating with our customers to deliver on the ever-increasing requirements of product performance, achievable through innovation and material science."