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Avient acquires UK-based Magna Colours

July 02/2021

MOSCOW (MRC) -- Avient, formerly PolyOne, expands its sustainable solutions portfolio with the acquisition of Magna Colours, according to Seeking Alpha.

Founded in 1978 and based in Barnsley, U.K., Magna is a developer of next-gen water-based ink technology that provides innovative and high-performance solutions.

The MagnaColours materials will join Avient's existing specialty inks portfolio, besides prominent brands such as Wilflex and Rutland.

"Magna represents an important investment in sustainable solutions, as brand owners seek alternatives to legacy technologies," said Robert M. Patterson, Chairman, President and CEO, Avient Corporation.

Avient expects its inks portfolio to grow as the coronavirus crisis is becoming less of a threat to economic and social activities, it added.

As MRC reported previously, in January 2021, Avient Corporation announced the official opening of its new CycleWorks facility in Pogliano, Italy. The new lab and plant will conduct chemistry testing and evaluations to help customers meet the challenge of plastics recycling and advance the goal of a circular economy. The demonstration plant mimics real-world recycling conditions in a research environment, said Avient.

On 1 July 2020, PolyOne and Clariant Masterbatches joined together as Avient, a company focused on specialised and sustainable material solutions with projected 2020 pro forma revenues of approximately USD 3.7 billion. Avient has approximately 9,100 employees and is certified ACC Responsible Care and a founding member of the AEPW.
Author:Margaret Volkova
Tags:petrochemistry, paints and coatings, masterbatches, Avient, Clariant International, sustainable development, UK, Italy, USA.
Category:General News
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