Page 38 - Plastics News September 2022
P. 38

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
   33   34   35   36   37   38   39   40   41   42   43