https://www.avient.com/sites/default/files/2020-11/investing-in-avient_0.pdf
F U T U R E G ROW T H I N E XC E S S
O F G D P I S D R I V E N B Y:
Our company is positioned to sustainably grow at a rate that
exceeds GDP.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
Source: Bloomberg market data as of November 9, 2020
Median: 82% Median: 73%
H I G H F R E E C A S H F LOW
C O N V E R S I O N
83
86 85 85
80 78
58
88
83 81 79 77 76 73 73 72 72
67
64 63 60
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Net Debt / 2021E EBITDA (1)
We typically operate at 2.5–3.0x net
debt to EBITDA.
Using consensus EBITDA of $466M per Bloomberg
Source: Bloomberg market data as of November 9, 2020
O U R VA LUAT I O N V E R S U S P E E R S
Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
9.7
18.1
14.0 14.0 13.6
11.7
10.2
23.8
18.7
17.7
13.7
12.2
11.4 11.4 11.4 11.0 10.4
9.5 9.2
8.4 8.3 7.6
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Median: 11.4xMedian: 13.8x
S U M M A RY: W H Y I N V E S T I N AV I E N T ?
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.
https://www.avient.com/news/disinfectant-resistance-improved-trilliant-hc-polyone
CLEVELAND – October 31, 2018 – At MD&M Minneapolis today, PolyOne Corporation announced that Trilliant™ HC material outperforms FR PC/ABS after exposure to harsh disinfectants, according to tensile strength stress tests performed by an independent A2LA-accredited lab.
Testing results show that Trilliant HC 2020 retains higher tensile strength than common FR PC/ABS materials after seven-day exposure to typical disinfectants.
Developed as a drop-in replacement for FR PC/ABS, this innovative Trilliant HC formulation was recently used successfully by a medical device OEM seeking to improve resistance to cracking and brittleness for its housings.
https://www.avient.com/sites/default/files/2020-10/investing-in-avient.pdf
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As a specialty formulator, we don’t
require significant capital
investment, as compared to the
base resin raw material suppliers
we purchase from.
Whether
an additional line at an existing
manufacturing plant, or a new
facility in a growing region, we
ramp-up quickly and cost-efficiently.
17
Median: 3% Median: 5%
Capex / Revenue
2021E (%)
Source: Capital IQ market data as of August 24, 2020
AV I E N T I S A SS E T L I G H T
Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
83 86 85 84 80
56
89
83 82 82 78 76 76 75 71 70 68
63 61 58
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Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
Free Cash Flow Conversion (1)
2021E (%)
Being asset light helps us to generate
strong free cash flow that is in line
with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
Source: Capital IQ market data as of August 24, 2020
Median: 84% Median: 75%
H I G H F R E E C A S H F L OW
C O N V E R S I O N
3.1x
2.6x
0.5x
1.9x
2.8x
3.1x
4.5x
-0.1x
1.8x
1.9x
2.2x 2.3x
2.4x
2.9x 3.0x 3.0x
3.2x
3.4x 3.4x
3.8x 3.9x
4.8x
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Net Debt / 2021E EBITDA (1)
We typically operate at 2.5–3.0x net
debt to EBITDA.
https://www.avient.com/resource-center?document_type=59&page=1
Hammerhead™ FR flame retardant composite panels provide a smarter, more efficient, and cost-effective solution for modular construction by integrating fire resistance, reducing weight, and simplifying installation.
Maxxam™ NHFR Non-Halogen Flame Retardant Polyolefins
View our portfolio of Maxxam™ NHFR Non-Halogen Flame Retardant Polyolefins
https://www.avient.com/resource-center?document_subtype=0&document_type=59&form_id=resource_filter_form&industry=0&op=FILTER RESULTS&product_family=0&product_name=0&page=1
Hammerhead™ FR flame retardant composite panels provide a smarter, more efficient, and cost-effective solution for modular construction by integrating fire resistance, reducing weight, and simplifying installation.
Maxxam™ NHFR Non-Halogen Flame Retardant Polyolefins
View our portfolio of Maxxam™ NHFR Non-Halogen Flame Retardant Polyolefins
https://www.avient.com/resource-center?document_type=59&document_subtype=0&industry=0&product_family=0&product_name=0&op=FILTER RESULTS&form_id=resource_filter_form&page=1
Hammerhead™ FR flame retardant composite panels provide a smarter, more efficient, and cost-effective solution for modular construction by integrating fire resistance, reducing weight, and simplifying installation.
Maxxam™ NHFR Non-Halogen Flame Retardant Polyolefins
View our portfolio of Maxxam™ NHFR Non-Halogen Flame Retardant Polyolefins
https://www.avient.com/news/advanced-innovation-made-possible-sustainable-fr-solutions-polyone
Homepage
//
News Center
//
Advanced Innovation Made Possible with Sustainable FR Solutions from PolyOne
https://www.avient.com/sites/default/files/resources/Novel_Thermoplastic_Elastomers_with_Universal_Bonding_Characteristics.pdf
TPE-1A, B also exhibits good aging properties at 70°C.
TPE-1A, -1B Tensile Properties
0
2.5
5
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s
tr
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th
, M
o
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s
(M
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a) 7 days at RT
7 days at 70C
T e ns ile S t re ngt h 3 0 0 % m o d.
T e ns ile S t re ngt h 3 0 0 % m o d.
https://www.avient.com/resources/safety-data-sheets?page=4574
H.
H.
PP FR 8-6 LMS-1000