Avient comes through with big first-quarter financials
Frank Esposito
Avient Corp.
Avient Corp officials cited strong demand for health care (up 22 percent) and consumer products (up 24 percent) as drivers of organic sales growth in the first quarter of 2021.
AVON LAKE, Ohio Materials supplier Avient Corp. has posted record-setting financial results in the first quarter of 2021.
Sales at Avon Lake, Ohio-based Avient grew 63 percent to $1.16 billion vs. the same quarter in 2020, as profit more than doubled to $79.7 million. I m very pleased to report we achieved the highest level of organic sales growth in the last decade, as the economy recovers from the pandemic lows of the prior year, Robert Patterson, chairman, president and CEO, said in an April 30 news release.
Avient comes through with big first-quarter financials
Avient Corp.
Avient Corp officials cited strong demand for health care (up 22 percent) and consumer products (up 24 percent) as drivers of organic sales growth in the first quarter of 2021.
Materials supplier Avient Corp. has posted record-setting financial results in the first quarter of 2021.
Sales at Avon Lake, Ohio-based Avient grew 63 percent to $1.16 billion vs. the same quarter in 2020, as profit more than doubled to $79.7 million. I m very pleased to report we achieved the highest level of organic sales growth in the last decade, as the economy recovers from the pandemic lows of the prior year, Chairman, President and CEO Robert Patterson said in an April 30 news release.
Avient adding capacity for medical-grade Mevopur materials in Asia-Pacific
The material supplier is equipping an existing facility in Singapore with a new production line to meet growing demand for the specialty polymers in that region. December 18, 2020 Canadian Plastics
Photo Credit: Avient Corp.
U.S.-based specialty material supplier Avient Corp. is equipping an existing facility in Singapore with a new production line to meet the growing demand for specialty pre-coloured, medical grade Mevopur polymers in the region.
The new line will be installed at the EN-ISO13485-2016 certified site, and complements similar capabilities in North America and Europe.
“When our newly added production line is validated and goes on-stream in Singapore next quarter, Avient will be able to increase its capacity to supply these materials, which address the particular needs of the healthcare industry in the Asia-Pacific region,” said Say-Eng Lee, vice president a
Avient has higher fourth-quarter expectations
Avient Corp. is updating its fourth-quarter financial expectations after better-than-expected results.
Avon Lake, Ohio-based Avient now expects adjusted earnings per share of 48 cents for the quarter, up from its previous expectation of 40 cents, officials said in a Dec. 14 news release. The firm which changed its name from PolyOne Corp. on July 1 posted adjusted EPS of 34 cents in the fourth quarter of 2019.
Company officials added that pro forma sales for October and November, including the acquisition of Clariant Masterbatch, were up 5.4 percent vs. the same two months in 2019. We expect to achieve record fourth quarter adjusted EPS … as recovering demand conditions around the world exceed the traditional seasonality we normally see this time of year, Chairman, President and CEO Robert Patterson said in the release.