Avient Corporation (NYSE: AVNT) confirmed that it has inked an agreement with the Royal DSM (DSM) to buy the DSM Protective Materials business (including the Dyneema brand). The famous technology and worldwide respected brand of Dyneema, the World’s Strongest Fiber, is the core of DSM’s protective materials business. Ballistic personal protection, marine, and sustainable infrastructure, renewable energy, industrial protection, and outdoor sports all use ultra-lightweight specialty fiber, which is 15 times stronger than steel.
The transaction has been authorized by the boards of directors of both Avient and DSM and is scheduled to conclude later this year, subject to usual closing conditions being met. Morgan Stanley and J.P. Morgan have agreed to provide committed finance for the acquisition. Jones Day acted as Avient’s independent legal counsel.
Furthermore, the $1.485 billion acquisition price is subject to usual modifications. Avient has also announced that it intends to investigate selling possibilities for its Avient Distribution business in conjunction with this proposed acquisition. Avient is ecstatic to welcome the Dyneema brand and its innovative technology to Avient.
The company has been developing its advanced composites platform for the past ten years by focusing on high-performance materials for applications where failure is not an option. Avient’s material options will be elevated to the highest levels on the performance spectrum of composites and synthetic fibers with the addition of the Dyneema portfolio.