https://www.avient.com/resources/safety-data-sheets?page=5557
MC-54040PV TAN 66 W/UV
PP FR 8-6 LMS-1000
https://www.avient.com/sites/default/files/2020-08/avient-investor-presentation-jefferies-industrials-conference.pdf
Avient Corporation 1
J E F F E R I E S V I R T U A L
I N D U S T R I A L S
C O N F E R E N C E
A U G U S T 2 0 2 0
Avient Corporation 2
FORWARD LOOKING STATEMENTS
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Avient Corporation 3
U S E O F
N O N - G A A P
M E A S U R E S
•
•
•
Avient Corporation 4
U P D A T E O N T H E
C O V I D - 1 9 P A N D E M I C
•
•
•
•
Avient Corporation 5
2019 Transportation Consumer
Discretionary
Healthcare Packaging All Other
Industries
Cost
Containment
FX 2020
$64.3 18%
18%
9%
6%
16% 2% $46.9
20%
•
•
•
•
•
•
S E C O N D Q U A R T E R 2 0 2 0 I N R E V I E W
Consumer
Discretionary
Avient Corporation 6
CLARIANT MASTERBATCH
STRATEGIC RATIONALE
Avient Corporation 7
F I T W I T H F O U R P I L L A R S T R A T E G Y
Specialization
•
•
•
Globalization
•
•
Operational
Excellence
•
•
•
Commercial
Excellence
•
•
People
Avient Corporation 8
5%
2006 2019E PF*
4%
12%
10%
18%
8%
20%
2006 2019E PF*
Healthcare
Consumer
Packaging
38%
* 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business
Percentage of Total Revenue
E N D M A R K E T T R A N S F O R M A T I O N
Building & Construction High Growth End Markets
50%
22%
Avient Corporation 9
Wire & Cable
11%
Industrial
10%
Electrical &
Electronic
7%
Healthcare
4%
Packaging
8%
Consumer
10%
Transportation
12%
Building &
Construction
38%
Healthcare
12%
Packaging
20%
Consumer
18%Transportation
12%
Building &
Constrution
5%
Wire & Cable
9%
Industrial
11%
Electrial &
Electronic
4%
Appliance
2%
Textiles
7%
2006 Pro Forma(1)
Net Sales by End Market
E N D M A R K E T T R A N S F O R M A T I O N
Avient Corporation 10
U N I F I E D F O C U S O N S U S T A I N A B I L I T Y
2006 - 2013
2013 – 2019
P E O P L E
P R O D U C T S P L A N E T
P E R F O R M A N C E
••
••
••
Avient Corporation 11
O V E R 8 5 % O F A D J U S T E D E B I T D A F R O M S P E C I A L T Y
46%
66%
0%
20%
40%
60%
80%
100%
2005 2010 2015 Pro Forma
%
o
f
A
d
ju
s
t
e
d
E
B
IT
D
A
(
1
)
JVs Performance Products & Solutions Distribution Specialty
7%
87%
(2)
Avient Corporation 12
T H E N E W A V I E N T : A S P E C I A L T Y G R O W T H C O M P A N Y
Transaction expected to add $0.85 to pro forma adjusted EPS
Avient Corporation 13
SUSTAINABILITY AT AVIENT
P E O P L E , P R O D U C T S , P L A N E T , P E R F O R M A N C E
Avient Corporation 13
Avient Corporation 14
V I S I O N
To be the world’s
premier provider of
specialized polymer
materials, services and
solutions
C O R E
V A L U E S
P E R S O N A L
V A L U E S
Honesty IntegrityRespect
Operational
Excellence
Commercial
Excellence
Specialization
Globalization
Collaboration ExcellenceInnovation
To be the world’s
premier provider of
specialized polymer
materials, services
and sustainable
solutions
Avient Corporation 15
1.3
1.1 1.1
0.85
0.65
0.57
0.54
0.97
0.84
0.74 0.74
0.69
0.51
0.56
0.14
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
YTD
S A F E T Y F I R S T
Injuries per 100 Workers
Spartech
Acquisition
Avient Corporation 16
G R E A T P L A C E T O W O R K
Avient Corporation 17
C O M M O D I T Y T O S P E C I A L T Y T R A N S F O R M A T I O N
•
•
•
•
•
•
•
•
•
•
•
•
2006 - 2013 2013 – 20192000-2005 2006 - 2013
•
•
2020 and
Beyond
Avient Corporation 18
A V I E N T
2 0 1 9 R E V E N U E | $ 2 . 9 B I L L I O N
Segment End Market Geography
Healthcare
15%
Industrial
14%
Consumer
14%
Packaging
13%
Transportation
13%
Wire & Cable
11%
Building &
Construction
6%
Electrical &
Electronics
6%
Textiles
5%
Appliance
3%
Color
Additives
& Inks
34%
Distribution
41%
Specialty
Engineered
Materials
25%
United States
54%
Europe
19%
Asia
11%
Latin
America
11%
Canada
5%
Avient Corporation 19
Operating Income
% of Sales
2006 2019
Color, Additives &
Inks
1.7% 14.7%
Specialty Engineered
Materials
1.1% 11.6%
Distribution 2.6% 6.3%
2009 2010 2011 2012 2013 2014 2015 2016* 2017* 2018
$2.43
P R O O F O F P E R F O R M A N C E
C O N S E C U T I V E
Y E A R S
1 0
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
A D J U S T E D E P S E X P A N S I O N
2018 2019
$1.69
$1.51
Avient Corporation 20
531
710
1,032
130
164
207
504
663
871
2014 2018 Pro Forma
R&D / Technical Marketing Sales
+ 34%
+ 26%
+ 32%
E X P A N S I O N O F C O M M E R C I A L R E S O U R C E S D R I V I N G G R O W T H
Revenue in Billions
Total
+ 10%
Organic
+ 7%+ 45%
+ 26%
+ 31%
$4.0
$3.2
(2) (1) (1)
$2.9 $2.9
$3.5
2015 2016 2017 2018 Pro
Forma
Total
+ 9%
Organic
+ 5%
Pro Forma(2)
Avient Corporation 21
P R I O R A C Q U I S I T I O N S H I S T O R Y
Commercial
Resources(1)
Operating
Income
($ in millions)
Operating
Margins
256
350
At Acquisition 2019
$36
$100
At Acquisition 2019
9%
19%
At Acquisition 2019
Established Acquisitions
(> 7 years)
+ 37% + 176% + 1000 bps
Avient Corporation 22
A L I G N I N G W I T H T R E N D S F O R G R O W T H
T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R
Facilitate
alternative
energy
solutions
Light-
weighting
Reduce
packaging
materials
Improve
recyclability
Reduce
spread of
infection
Avient Corporation 23
I N N O V A T I O N
Customization
55%
M&A
30%
Innovation
Pipeline
15%
Innovation comes from Research & Development Spend
Vitality Index
12%
37%
2006 2019
$20
$51
2006 2019
Avient Corporation 24
R E V E N U E F R O M S U S T A I N A B L E S O L U T I O N S
$275M
$325M
$355M
$410M 14% Total Annual Growth
9% Organic Annual Growth
Avient Corporation 25
SEGMENT
HIGHLIGHTS
I N N O V A T I N G W I T H A V I E N T
Avient Corporation 25
Avient Corporation 26
C O L O R , A D D I T I V E S & I N K S
E N D M A R K E T S & S O L U T I O N S
Solid
Colorants
Performance
Additives
Screen
Printing Inks
Liquid
Colorants
Packaging
31%
Industrial
14%
Textiles
13%
Wire & Cable
10%
Building & Construction
9%
Consumer
8%
Transportation
7%
Healthcare
5%
Appliances
2%
Electrical & Electronics
1%
Avient Corporation 26
Avient Corporation 27
Operating Income & MarginRevenue by Region
C O L O R , A D D I T I V E S & I N K S
2 0 1 9 R E V E N U E | O V E R $ 1 B I L L I O N
Europe
34%
United
States
44%
Asia
15%
Canada
1%
Mexico
3%
South
America
3%
$4
$25
$104
$147
2005 2009 2013 2019
0.9%
5.5%
12.2%
14.7%
Avient Corporation 27
Avient Corporation 28
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
E N D M A R K E T S & S O L U T I O N S
Engineered
Formulations
Advanced
Composites
Thermoplastic
Elastomers
Wire & Cable*
28%
Consumer
19%
Electrical & Electronics
12%
Healthcare
9%
Industrial
8%
Packaging
6%
Appliance
2%
Building &
Construction
2%
Transportation
14%
Avient Corporation 28
Avient Corporation 29
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
Revenue by Region Operating Income & Margin
2 0 1 9 R E V E N U E | $ 7 5 0 M I L L I O N
Europe
27%
United
States
54%
Asia
17%
Canada
2%
$21
$57
$87
2005 2009 2013 2019
0.1%
5.1%
9.3%
11.6%
Avient Corporation 29
Avient Corporation 30
D I S T R I B U T I O N
E N D M A R K E T S & S U P P L I E R S
Healthcare
28%
Industrial
19%
Transportation
18%
Consumer
17%
Appliance
6%
Electrical &
Electronics
5%
Building &
Construction
4%
Packaging
2%
Wire & Cable
1%
Operating Income & Margin2019 Revenue | $1.2 Billion
$25
$63
$75
2005 2009 2013 2019
$20
2.9%
4.0%
5.9%
6.3%
Avient Corporation 30
http://www.avient.com/Pages/VariationRoot.aspx
Avient Corporation 31
O V E R V I E W O F R A W M A T E R I A L P U R C H A S E S
Avient Corporation 31
Avient Corporation 32
Avient Corporation 33
Adjusted EPS attributable to PolyOne common shareholders is calculated as follows:
2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016** 2017** 2018 2018***
Q1
2019*** 2019
Q1
2020
Net income from continuing operations attributable to PolyOne
common shareholders
Joint venture equity earnings, after tax
Special items, before tax
(1)
Special items, tax adjustments
(1)
Adjusted net income from continuing operations attributable to
PolyOne common shareholders
$ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 $ 166.4 $ 173.5 $ 161.1 $ 87.7 $ 22.4 $ 75.5 $ 33.1
(19.0) (14.7) (3.7) — — — — — — — — — — —
(48.7) 24.2 (48.1) 55.1 46.3 164.2 87.6 23.8 32.9 59.5 58.7 12.2 61.7 9.6
(27.2) (96.7) (24.7) (18.9) (13.7) (73.7) (58.7) (15.9) (24.8) (25.3) (25.1) (1.2) (5.9) (1.0)
$ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 $ 174.3 $ 181.6 $ 195.3 $ 121.3 $ 33.4 $ 131.3 $ 41.7
Diluted shares 93.4 96.0 94.3 89.8 96.5 93.5 88.7 84.6 82.1 80.4 80.4 78.2 77.7 86.7
Adjusted EPS attributable to PolyOne common shareholders $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 $ 2.06 $ 2.21 $ 2.43 $ 1.51 $ 0.43 $ 1.69 $ 0.48
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principle, discontinued operations or the related resegmentation.
** Pro forma for sale of Designed Structures and Solutions segment (DSS).
*** Pro forma for sale of Performance Products and Solutions segment (PP&S).
https://www.avient.com/sites/default/files/2022-05/OnColor Non-Phtalate Color Concentrates for PVC Formulations Product Bulletin.pdf
OnColor™ Color Concentrates
for Non-Phtalate PVC Formulations
Plasticizers are a major component in PVC
formulations.
Due to the rise in non-phthalate plasticizer
demand, Avient offers a range of color concentrates
suitable for these formulations.
This
literature shall NOT operate as permission, recommendation, or inducement to practice any patented invention without permission of the patent owner.
1.844.4AVIENT
www.avient.com
RAL** SAP CODE DESCRIPTION LIGHT RESISTANCE
9010 CC01082068BG 00016 Cromofix White 8
1021 CC10253439BG PF 391-YE-30 FPVC Masterbatch 6
2003 CC10274055BG PF 274055 OR FPVC Masterbatch 5
3000 CC10253376BG PF 3189-RD-30 FPVC Masterbatch 4–5
3015 CC10255901BG PF 2000-PK-30 FPVC Masterbatch 7–8
4005 CC10255898BG PF 255898 PU FPVC Masterbatch 5
5015 CC10253374BG PF 130-BU-30 FPVC Masterbatch 7–8
6018 CC01088641BG 06B010 Cromofix Green 5–6
7001 CC10255354BG PF 255354 GY FPVC Masterbatch 8
8003 CC01088695BG 07B005 Cromofix Brown 6
9005 CC10252184BG PF 2023-BK-30 BK FPVC Masterbatch 8
* Non-ortho-phthalate plasticizers
** Other colors available on request
SOLUTIONS AVAILABLE
https://www.avient.com/sites/default/files/2021-02/avient-ir-presentation-goldman-sachs-and-morgan-stanley.pdf
Design times can be less than
three days for colorants.
Whether
an additional line at an existing
manufacturing plant, or a new
facility in a growing region, we
ramp-up quickly and cost-efficiently.
25
Capex / Revenue
2021E (%)
AV I E N T I S A SS E T L I G H T
Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
2 3 2 2 2
3 3
6
2
3 4
4 5 5
5 6 6 6
7
9
25
A
vi
e
n
t
A
vi
e
n
t
(E
xc
l.
Avient acquired the Clariant Masterbatch business (CMB) on July 1, 2020 (the “Acquisition Date”).
https://www.avient.com/resources/safety-data-sheets?page=6632
BLACK NYLON 6/6
NYLON WHITE
PP FR 8-6 LMS-1000
https://www.avient.com/resources/safety-data-sheets?page=5869
HIPS 7800 WHITE-C
UV WARM RED C 6/6
PP FR 8-6 LMS-1000
https://www.avient.com/products/long-fiber-technology/benefits-long-fiber-reinforced-thermoplastic-composites
Nylon 6/6
150°F / 66°C
Color – Custom colors modify appearance to increase consumer appeal and ease identification.
https://www.avient.com/sites/default/files/2021-11/polystrand-product-selection-guide_0.pdf
POLYSTRAND
CONTINUOUS FIBER
REINFORCED
THERMOPLASTIC
TAPES & LAMINATES
™
PRODUCT SELECTION GUIDE
Material Min FinishedSlit Width
Max Finished
Slit Width
Unidirectional Tape 2” (50.8 mm) 24” (610 mm)
X-Ply™, 3-Ply, 4-Ply 2” (50.8 mm) 120” (3048 mm)
SLITTING CAPABILITIES
Max Unfinished Width Max Finished Slit Width Max Finished Roll Weight Max Roll Length (X-Ply™, Full Width)
Up to 125"
(3175 mm)
Up to 120"
(3048 mm)
Up to 10,000 lbs
(4500 kg)
Up to 4,000 ft
(1200 m)
LAMINATION LINE CAPABILITIES
Tape Width Resin Capabilities Fiber Inputs Max Tape Roll Weight Max Roll Length
25" (635 mm)
Standard Width,
Slit Capabilities
PP, PE, PETG,
aPET, PA6
Additional polymers
in development
E-Glass
S-Glass, Aramid
Up to 1,800 lbs
(816 kg)
Up to 12,000 ft
(366 m)
TAPE LINE CAPABILITIES
Product
Name Resin
Fiber
Content Areal Weight
Nominal
Thickness1
Flexural
Modulus
ASTM D790
Flexural
Strength
ASTM D790
Tensile
Modulus
ASTM D3039
Tensile
Strength
ASTM D3039
wt % lb/ft2 oz/yd2 gsm in mm ksi GPa ksi MPa ksi GPa ksi MPa
6337
PP
63 0.10 14.75 500 0.015 0.38 3570 24.6 58 402 4010 27.6 111 765
6531
65
0.05 7.40 251 0.006 0.15 4020 27.7 73 505 4900 33.8 140 965
6536 0.07 10.32 350 0.009 0.23 4050 27.9 72 494 4500 31.0 131 903
6538 0.14 19.77 670 0.019 0.48 3540 24.4 47 324 4260 29.4 100 689
7034B PP-Black 70 0.07 10.24 347 0.009 0.23 4400 30.3 83 569 5000 34.5 111 765
6020
PE
60 0.08 11.95 405 0.012 0.30 3600 24.8 54 372 3800 26.2 109 752
6621 66 0.10 13.97 474 0.012 0.30 4000 27.6 55 379 4720 32.5 126 869
68222 68 0.16 23.34 791 0.022 0.56 4060 28.0 55 379 4560 31.4 113 779
5843 PETG 58 0.08 11.85 402 0.008 0.20 3680 25.4 90 621 4400 30.3 137 945
5840B aPET-Black 58 0.09 13.00 441 0.009 0.23 4120 28.4 107 738 5080 35.0 150 1034
5860B PA6-Black 58 0.08 11.48 389 0.010 0.25 3620 25.0 104 717 3970 27.4 108 745
TYPICAL PROPERTIES - UNIDIRECTIONAL FIBERGLASS REINFORCED THERMOPLASTIC TAPE
1 Nominal thicknesses indicated are baseline values that may vary depending on material processing and other variables.
TYPICAL PROPERTIES - MULTI-AXIAL LAMINATES
0° Testing Orientation 90° Testing Orientation
Product
Name Resin
Fiber
Content
Laminate Layers
& Orientation Areal Weight
Nominal
Thickness1
Flexural Modulus
ASTM D790
Flexural Strength
ASTM D790
Tensile Modulus
ASTM D3039
Tensile Strength
ASTM D3039
Flexural Modulus
ASTM D790
Flexural Strength
ASTM D790
Tensile Modulus
ASTM D3039
Tensile Strength
ASTM D3039
wt % lb/ft2 oz/yd2 gsm in mm ksi GPa ksi MPa ksi GPa ksi MPa ksi GPa ksi MPa ksi GPa ksi MPa
6337
PP
63
0/90 0.20 29.49 1000 0.031 0.79 - - - - 2020 13.9 59.7 412 - - - - 2020 13.9 59.7 412
0/90/0 0.31 44.24 1500 0.045 1.14 2250 15.5 46.4 320 3070 21.2 79.4 547 186 1.3 9.7 67 1330 9.2 39.6 273
0/90/90/0 0.41 58.98 2000 0.057 1.45 2000 13.8 44.0 303 2400 16.5 60.6 418 496 3.4 20.7 143 2210 15.2 56.4 389
6531
65
0/90 0.10 14.80 502 0.014 0.36 - - - - 2240 15.4 60.9 420 - - - - 2240 15.4 60.9 420
0/90/0 0.15 22.20 753 0.020 0.50 2650 18.3 58.3 402 3100 21.4 82.8 571 280 1.9 NB2 NB2 1670 11.5 42.5 293
0/90/90/0 0.21 29.61 1004 0.027 0.68 2260 15.6 51.5 355 2470 17.0 62.2 429 580 4.0 30.4 210 2310 15.9 59.6 411
6536
0/90 0.14 20.71 702 0.021 0.53 - - - - 1980 13.7 60.5 417 - - - - 1980 13.7 60.5 417
0/90/0 0.22 31.06 1053 0.029 0.74 2309 15.9 48.3 333 2730 18.8 81.5 562 245 1.7 13.0 90 1490 10.3 44.3 305
0/90/90/0 0.29 41.41 1404 0.037 0.94 2164 14.9 47 324 2170 15.0 59.6 411 512 3.5 25.4 175 2340 16.1 71.2 491
6538
0/90 0.27 39.54 1341 0.034 0.86 - - - - 2220 15.3 60.0 414 - - - - 2220 15.3 60.0 414
0/90/0 0.41 59.53 2018 0.057 1.44 2825 19.5 40.9 282 2780 19.2 67.6 466 218 1.5 10.2 70 1410 9.7 40.0 276
0/90/90/0 0.55 79.37 2691 0.073 1.85 1880 13.0 32.4 223 2060 14.2 54.0 372 478 3.3 18.0 124 2360 16.3 61.0 421
7034B PP-Black 70
0/90 0.14 20.48 694 0.016 0.40 - - - - 2680 18.5 62.0 427 - - - - 2680 18.5 62.0 427
0/90/0 0.21 30.72 1041 0.028 0.71 1750 12.1 55.9 385 3710 25.6 75.1 518 160 1.1 11.3 78 1440 9.9 36.2 250
0/90/90/0 0.28 40.95 1388 0.036 0.90 1700 11.7 40.4 279 2800 19.3 55.7 384 432 3.0 25.4 175 2350 16.2 52.4 361
6020
PE
60
0/90 0.17 23.90 810 0.023 0.57 - - - - 1830 12.6 52.00 359 - - - - 1830 12.6 52.0 359
0/90/0 0.25 35.86 1216 0.033 0.84 2265 15.6 40.0 276 2740 18.9 68.2 470 181 1.2 10.0 69 1350 9.3 35.3 243
0/90/90/0 0.33 47.81 1621 0.044 1.12 1810 12.5 30.0 207 2000 13.8 48.0 331 502 3.5 22.0 152 1820 12.5 46.0 317
6621 66
0/90 0.19 27.94 947 0.025 0.65 - - - - 2280 15.7 60.0 414 - - - - 2280 15.7 60.0 414
0/90/0 0.29 41.90 1421 0.040 1.01 2490 17.2 37.0 255 2900 20.0 70.0 483 165 1.1 9.7 67 1440 9.9 38.0 262
0/90/90/0 0.39 55.87 1894 0.053 1.35 1810 12.5 29.0 200 2160 14.9 58.0 400 508 3.5 21.0 145 2170 15.0 53.0 365
5843 PETG 58
0/90 0.16 23.70 804 0.020 0.50 - - - - 2050 14.1 59.6 411 - - - - 2050 14.1 59.6 411
0/90/0 0.25 35.55 1205 0.030 0.76 2800 19.3 89.0 614 2900 20.0 78.0 538 397 2.7 NB2 NB2 1580 10.9 42.5 293
0/90/90/0 0.33 47.40 1607 0.039 0.99 2540 17.5 72.0 496 2300 15.9 57.7 398 780 5.4 35.0 241 2170 15.0 63.0 434
5840B aPET-Black 58
0/90 0.18 26.01 882 0.021 0.53 - - - - 2530 17.4 55.3 381 - - - - 2530 17.4 55.3 381
0/90/0 0.27 39.01 1323 0.032 0.82 2986 20.6 91.1 628 3160 21.8 68.7 474 252 1.7 20.0 138 1580 10.9 36.9 254
0/90/90/0 0.36 52.01 1763 0.042 1.07 3065 21.1 73.1 504 2570 17.7 54.2 374 813 5.6 37.0 255 2440 16.8 55.6 383
5860B PA6-Black 58
0/90 0.16 22.95 778 0.021 0.52 - - - - 2190 15.1 56.00 386 - - - - 2190 15.1 56.0 386
0/90/0 0.24 34.43 1167 0.034 0.86 2510 17.3 117.0 807 2760 19.0 63.7 439 657 4.5 22.2 153 1630 11.2 39.7 274
0/90/90/0 0.32 45.91 1556 0.046 1.18 2210 15.2 106.0 731 2090 14.4 45.6 314 1110 7.7 50.8 350 2150 14.8 57.4 396
1 Nominal thicknesses indicated are baseline values that may vary depending on material processing and other variables.
Unidirectional Tape
3-Ply 0˚/90˚/0˚
6-Ply
X-Ply™ 0˚/90˚
4-Ply 0˚/90˚/90˚/0˚
Honeycomb
Core, X-Ply™ Skins
Uni Tape with Scrim
10-Ply with Film
LAMINATION LAY-UP CONFIGURATIONS
4-Ply 90˚/0˚/0˚/90˚ with Film
1.844.4AVIENT
www.avient.com
Copyright © 2021, Avient Corporation.
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Attachment 6
Clariant MB
Clariant MB
https://www.avient.com/investor-center/news/avient-announces-third-quarter-2020-results
Attachment 6
Color, Additives and Inks
Color, Additives and Inks