Page 38 - Plastics News September 2022
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BUSINESS NEWS
Avient Completes Acquisition of DSM Protective Materials (Dyneema®)
energy, industrial protection and out-
door sports. The business includes six
production facilities, four R&D centers
and approximately 1,000 employees lo-
cated around the world.
CLEVELAND, Sept. 1, 2022 / ficer, Avient Corporation. “This next
PRNewswire/ -- Avient Corporation step in our specialty transformation ex- “With the addition of the Protective
( NYSE: AVNT), a leading provider pands our material offerings to provide Materials business, we have significantly
of specialized and sustainable material solutions that require the highest level of increased the size of our fastest growing
solutions, has completed its purchase performance in applications where fail- platform and firmly established Avient
of the protective materials business of ure is not an option.” as a leader in the advanced composites
DSM (including the Dyneema® brand), The foundation of Avient Protective space,” said Chris Pederson, President,
which will now be called Avient Protec- Materials is the renowned technology Specialty Engineered Materials, Avient
tive Materials and reported within the and globally admired brand of Dynee- Corporation. “We look forward to col-
company’s Specialty Engineered Materi- ma®, the World’s Strongest Fiber™. The laborating with our customers to deliver
als segment. ultra-lightweight specialty fiber is 15 on the ever-increasing requirements
of product performance, achievable
“We proudly welcome our newest asso- times stronger than steel and is used in through innovation and material sci-
ciates and valued customers joining us demanding applications, such as bal- ence.”
today,” said Robert M. Patterson, Chair- listic personal protection, marine and
man, President and Chief Executive Of- sustainable infrastructure, renewable
Hanwha Solutions Discloses Fresh Investment To Strengthen Solar Cell Material Business
crease to 920,000 tons, surpassing Exx- invest in domestic R&D to secure fu-
on Mobil's 790,000 tons and becoming ture energy technologies," an unnamed
the world's No. 1 EVA producer. EVA, a Hanwha Solutions official said in a
thermoplastic polymer with good radia- statement on September 7.
tion transmission and low degradability In its domestic production base in Eum-
to sunlight, is used in solar modules as seong, Hanwha Solutions will invest
an encapsulating agent. 41.7 billion won to expand the produc-
Hanwha Solutions joined hands with GS tion of EVA sheets that maintain the
Energy, a total energy solution provider performance of solar cells.
SEOUL -- Hanwha Solutions, a chemi- in South Korea, to establish an EVA To secure a technological advantage
cal and energy company affiliated with joint venture named “H&G Chemical" over overseas competitors, especially in
South Korea's Hanwha Group, dis- by investing a total of 590 billion won China, South Korea is actively pushing
closed a fresh injection of 760 billion with the goal of producing 300,000 tons for the commercialization of new solar
won ($549 million) to strengthen its per year from September 2025. Hanwha cell modules. In March 2022, Hanwha
solar cell material business and secure Solutions holds a 51 percent stake in the Solutions and Hanwha Corporation
a base for producing high-power so- joint venture that will be nurtured into became the largest single shareholder
lar core products. The new investment a global top-tier EVA manufacturer in a of REC Silicon ASA, a Norway-based
comes on the heels of fierce competition short period of time. producer of polysilicon, a high purity
with Chinese companies. "In line with the expansion of the global polycrystalline form of silicon used as a
Through its new investment, Hanwha renewable energy market, we will stably raw material in the field of solar photo-
Group's total production capacity of supply solar materials based on petro- voltaics and electronics.
ethylene vinyl acetate (EVA) will in- chemical technology and continue to
38 PLASTICS NEWS September 2022 39 PLASTICS NEWS September 2022