DSM Sells Protective Materials to Avient
DSM has agreed to sell its protective materials business, which primarily includes its Dyneema fiber brand, to US specialty polymer materials maker Avient for an enterprise value of $1.485 billion. The deal, which is expected to close in the second half of this year, follows DSM’s strategic review of the business last September.
The Dyneema business includes six production facilities, four R&D centers and roughly 1,000 employees worldwide. Sales and EBITDA for the business in 2022 are forecast to be $415 million and $130 million respectively.
"We are thrilled to add the Dyneema brand and its unique technologies to Avient, further expanding our growing composites portfolio," said Avient chairman, president and CEO Robert Patterson. "For 10 years, we have been building our advanced composites platform by focusing on high-performance materials for applications where failure is not an option. The addition of the Dyneema portfolio will raise Avient's material offerings to the highest levels on the performance spectrum of composites and engineered fibers."
With the addition of the Dyneema business, Avient’s composites platform will represent more than 50% of the Cleveland, Ohio company’s specialty engineering materials sales.
Avient has also announced plans to explore sale options for its distribution arm, without yet offereing details. DSM, meanwhile, is still looking for a buyer for its engineering materials business, which includes polyamide grades and engineering polyesters.
Author: Elaine Burridge, Freelance Journalist
