Avante Officially Completes the Acquisition of DSM's Protective Materials Business

On September 1, Avient (Avient) announced on its official website that it had completed the acquisition of the protective material business (including the Dyneema® brand) under DSM (DSM), which has now been renamed and affiliated to Avient Protective Materials. in Avante Special Engineering Materials Division.

"Today, we are very proud to welcome our new employees and valued customers to join us," said Robert M. Patterson, chairman, president and chief executive officer of Avante Group. "The next step in our professional transformation will expand our materials offering. , is committed to providing solutions that achieve optimal application performance without any failures."

Acclaimed technology and the world-renowned brand Dyneema® - the world's strongest fiber™, an ultra-high molecular weight polyethylene and "world's strongest" man-made fiber, form the cornerstone of Avante's protective materials business. This ultra-lightweight specialty fiber is 15 times stronger than steel and can be used in demanding applications such as personal ballistic protection, maritime and sustainable infrastructure, renewable energy, industrial protection, and outdoor sports products. The business includes 6 production sites, 4 R&D centers and nearly 1,000 employees worldwide.

"The addition of the Protective Materials business significantly expands the scale of our rapidly growing platform and establishes Avante's leadership in advanced composites," said Chris Pederson, president of Avante's Specialty Engineered Materials business unit. Our customers collaborate to meet growing product performance demands through innovation and materials science."

On August 12, Avante announced that it had reached a definitive agreement to sell its distribution business to an affiliate of H.I.G. Capital for $950 million in cash. According to reports, the after-tax proceeds from the sale are about $750 million, which will be used to repay debts that are due in the near future.

Robert M. Patterson, Chairman, President and Chief Executive Officer of Avante Group, said the sale of the distribution business and the acquisition of DSM Protective Materials represent the next steps in our professional transformation that began more than a decade ago. As pure professional formulators of sustainable solutions, we are excited about our future.