PolyOne completes Clariant colour masterbatch acquisition, changes name to Avient
The $1.44 billion purchase was first announced in December 2019.
Material supplier PolyOne Corp. has completed its US$1.44 billion purchase of the colour masterbatch businesses of Clariant and Clariant Chemicals India Ltd., and said it will change its name to Avient Corp.
Avon Lake, Ohio-based PolyOne first announced the deal with Clariant in December 2019.
Clariant’s colour masterbatch business has 46 manufacturing operations and technology centres in 29 countries and approximately 3,600 employees.
“We proudly welcome our newest associates and valued customers from Clariant Masterbatch. They are joining us on Day 1 of this new era for our company, which as of today will be named Avient,” Robert M. Patterson, chairman, president, and CEO of Avient, said in a July 1 statement. “Under this new brand, we bring two global leaders together to create a specialty company focused on sustainable solutions for our customers, being a great place to work for our associates, and creating value for all stakeholders.”
Avient is a new word invented to reflect the company’s commitment to inspiring each other and the world to “pursue and achieve our fullest potential,” the statement said.
The July 1 statement also outlined key priorities for the new organization, which include commitments to workplace safety, being a great place to work, and inclusion and diversity; leading in sustainability; investing in innovation; operating globally and serving locally; leveraging customer service as a differentiator; and promoting shareholder value.