https://www.avient.com/sites/default/files/2020-09/ccg-overview-cn.pdf
Clarke Circle
Bethel, CT 06801, USA
电话:+1 800 242 2296
info.usa@colorant-chromatics.com
生产
Colorant Chromatics Ab ( 芬兰 )
Kroklundsvägen 346
AX-22 320 Ödkarby, Åland, Finland
电话:+358 18 488 00
info.aland@colorant-chromatics.com
上海蔻兰色料科技有限公司(中国)
中国上海浦东新区金苏路200号金桥瑞邑
商务园C栋2楼,邮编:201206
电话:+86 21 60284888
info.china@colorant-chromatics.com
销售公司
Colorant GmbH ( 德国 )
Justus-Staudt-Strasse 1,
D-65555 Limburg-Offheim, Germany
电话:+49 6431 98 99 0
info.germany@colorant-chromatics.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Proxy%2520Statement%25202016.pdf
A-1
i
MESSAGE FROM OUR CEO
April 1, 2016
Dear Fellow Shareholder:
You are cordially invited to attend the PolyOne Corporation Annual Meeting of Shareholders (the
“Annual Meeting”), which will be held at 9:00 a.m. on Thursday, May 12, 2016, at PolyOne Corporation’s
corporate headquarters located at PolyOne Center, 33587 Walker Road, Avon Lake, Ohio 44012.
ii
NOTICE OF 2016 ANNUAL MEETING OF SHAREHOLDERS
Thursday, May 12, 2016
9:00 a.m.
Our telephone number is (440) 930-1000.
https://www.avient.com/investor-center/news/avient-announces-first-quarter-2022-results-connection-announcement-acquire-dsm-protective-materials-dyneema
9:00 a.m.
https://www.avient.com/sites/default/files/2021-05/renol-ul94-compliant-masterbatches-brochure.pdf
RENOL™ UL94 COMPLIANT
MASTERBATCHES
HOW TO USE THE TABLES
UL HB
GENERIC RESIN TYPE FLAME
MINIMUM
THICKNESS
MAXIMUM
LET-DOWN
Acetal Copolymer (POM) HB 1.50 1:20
Acrylonitrile Butadiene Styrene (ABS) HB 1.50 1:10
Ethylene Propylene Thermoplastic Rubber (EPTR) HB 1.50 1:20
High Impact Polystyrene (HIPS) HB 1.50 1:10
Liquid Crystal Polymer (LCP) HB 0.83 1:10
Polyamide (PA) HB 3.20 1:33
Polyamide (PA66 and PA 4/6) HB 0.81 1:20
Polyamide 6 (PA6) HB 0.75 1:25
Polyamide 66 (PA66) HB 0.40 1:40
Polybutylene Terephthalate (PBT) HB 0.81 1:20
Polybutylene Terephthalate/Polycarbonate (PBT/PC) HB 1.50 1:10
Polycarbonate (PC) HB 1.50 1:15
Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) HB 1.50 1:20
Polycarbonate/Polyethylene Terephthalate (PC/PET) HB 1.50 1:20
Polyethylene (PE) HB 1.50 1:50
Polyethylene Terephthalate (PET) HB 0.80 1:16.7
Polyketone HB 1.50 1:20
Polymethyl Methacrylate (PMMA) HB 3.00 1:25
Polypropylene (PP) HB 1.50 1:15
Polystyrene (PS) HB 0.83 1:15
Polyurethane (PUR) HB 1.50 1:25
Polyvinylchloride (PVC) HB 1.50 1:20
Styrene Acrylonitrile (SAN) HB 1.50 1:20
Thermoplastic Elastomer (TPE) HB 0.75 1:25
ASCEND
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 66
21X1(a)(f2), 21SPC1(a)(f2),
21SPF1(a)(f2), 21SPG1(a)(f2),
21SPM1(a)(f2), 20NSP1(a)(f2)
0.75 V-2 1:40
22HSP(e) 0.75 V-2 1:40
64C-R 3.0 V-2 1:50
ECO366(e) 0.4 V-0 1:40
ECO366H(e) 0.2 V-0 1:25
FR350J 0.4 V-0 1:25
20NSP(a)(f2), 21SPF(a)(f2),
21SPM(a)(f2), 21SPC(a)(f2) 0.4 V-2 1:40
20NSP(a)(h)(f2), 21SPF(a)(h)(f2),
21SPM(a)(h)(f2), 21SPC(a)(h) (f2) 1.5 V-2 1:20
Polyamide 66/6
(PA66/6)
ECO315(e), ECO315J(e) 0.4 V-0 1:40
M344 3.0 V-0 1:25
909 0.75 V-0 1:25
BASF
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 6
8202(t1), 8202 Blend (t1) 0.71 V-2 1:25
8202C(t1), 8202C BLEND (t1) 1.50 V-2 1:25
8202CHS(t1) (t3), 8202C HS Blend 1.50 V-2 1:25
8202HS(t1) 1.50 V-2 1:25
B3S
0.80 V-2 1:25
B3S Q661 1.50 V-2 1:25
B3S R03 1.50 V-2 1:25
8232G HSFR(t9), B3U10G5 (t9) 1.50 V-0 1:25
Polyamide 6/66
(PA6/66)
C3U (m) 0.40 V-0 1:25
KR4205(m), C3U (m), C3U (t)(m) 0.40 V-0 1:25
KR4205, C3U 0.40 V-0 1:25
Polyamide 66
1000(b), 1310-(b), Ultramid A3K Q603(+) 1.50 V-2 1:10
A3K (o) Q790(g)(f2) 0.41 V-2 1:20
A3K(f2), A3K Q601(f2) 0.41 V-2 1:20
A3SK 0.41 V-2 1:25
A5 3.00 V-2 1:33
A3W(f1), A3W FC (f1) 0.75 V-2 1:10
A3K R01 (t)(g)(f2) 0.40 V-2 1:20
Polybutylene
Terephthalate
B4406 G2 (o) Q798 1.50 V-0 1:20
B4406 G2(a), B4406 G2 (o) Q717(a) 1.50 V-0 1:20
B4406 G3 (o) Q798 1.50 V-0 1:20
B4406 G3(a), B4406 G3 (o) Q717(a) 1.50 V-0 1:20
B4406 G4 (o) Q798 1.50 V-0 1:20
B4406 G4(a2), B4406 G4 (o) Q717(a2) 1.50 V-0 1:20
B4406 G6 (o) Q798 3.00 V-0 1:12.5
B4406 G6(%) 1.50 V-0 1:20
B4406 G6(a1), B4406 G6 (o) Q717(a1),
B4406 G6 (o) Q717 High Speed(a1) 1.50 V-0 1:20
B4406(a), B4406 (o) Q717(a) 1.50 V-0 1:20
B4406@ 1.50 V-0 1:20
B4450 G5, B4450 G5 (t) 0.40 V-2 1:50
Polyurethane
(PUR) 11 85 A(a) FHF 000 (f2) 0.75 V-0 1:33
CELANESE
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Liquid Crystal
Polymer
(LCP)
A130(+), MT1310 1.50 V-0 1:40
Polyamide 66
(PA66) A3 GF 25 V0XI, A G5 FR C4 0.40 V-0 1:25
Polybutylene
Terephthalate
2012-2 1.50 V-0 1:20
2016(b) 1.50 V-0 1:20
3112-2 1.50 V-0 1:20
3116(b) 1.50 V-0 1:20
3216(b) 1.50 V-0 1:20
3310-2(f2) 1.50 V-0 1:20
3311-3(f2) 1.50 V-0 1:20
3316(b) 1.50 V-0 1:20
3316(b), 3316HF 1.50 V-0 1:20
COVESTRO
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polycarbonate
2407 + (z)(f1) 0.75-2.60 V-2 1:10
2807 + MAS183 0.75 V-2 1:25
6455 + (z)
6485 + (z)(f1) 1.50 V-0 1:25
Acrylonitrile
Butadiene Styrene
FR110 + 1.50 V-0 1:33
FR3005 HF + (z), FR3005 HF + BBS314 1.50 V-0 1:12.5
FR3010 + (z)
1.50 V-0 1:25
FR3010 HF + 3.00 V-0 1:25
FR3030 + 3.00 V-0 1:25
DSM
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 46
(PA46) TE250F6(h1)(j) 0.50 V-0 1:25
Polyamide 6
F223-D(f1), F223-D /A(f1) 0.75 V-2 1:25
K222-KGV5(f1)
0.75 V-2 1:16.7
1.50 V-2 1:16.7
K-FKGS6/B(f1)(y) 0.80 V-0 1:25
Polyamide 66
(PA66) SG-KGS6/HV 0.75 V-0 1:25
Thermoplastic
Elastomer
(TPE)
PL460-S 1.60 V-0 1:25
Polyamide 4T
(PA4T) T11 (h) 0.40 V-0 1:20
DOMO
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide
(PA) J 60X1 V30 0.40 V-0 1:25
Polyamide 6
(PA6) PSB 286
0.80 V-2 1:25
3.00 V-2 1:25
Polyamide 66
A 205F(r4) 0.38 V-2 1:25
A 225F 0.75 V-2 1:25
A 50H1 (r3)(f2) 0.40 V-0 1:25
A 30G1 0.40 V-0 1:25
DUPONT
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide
(PA)
132F(+)(f1), 135F(+)(f1) 0.75 V-2 1:20
HTNFR42G30NH 0.40 V-0 1:25
Polyamide 6/12
(PA6/12) 151, 151L 1.50 V-2 1:25
Polyamide 66
101(r9)(f1), 101F(r9)(f1), 101L(r9)(f1),
E101(r9)(f1), E101L(r9)(f1) 0.75 V-2 1:20
103FHS(+), 103HSL(+), RN5077E(+),
E103HSL(+) 0.75 V-2 1:20
A428 0.75 V-0 1:20
FE3757(+) 0.75 V-2 1:25
FR15(+) 0.75 V-0 1:20
FR50(+)(f1) 0.35 V-0 1:20
FR7025V0F(+) 0.50 V-0 1:33
Polyamide 66/6
(PA66/6) FR72G25V0 0.80 V-0 1:25
Polyamide 66/6T
(PA66/6T) FR95G25V0NH 0.40 V-0 1:25
Polyamide 6T/66
(PA6T/66)
HTNFR52G15AL 0.75 V-0 1:33
HTNFR52G30BL(r3) 0.75 V-0 1:33
HTNFR52G30L(+), FE15502(+),
HTNFR52G30AL(+) 0.75 V-0 1:33
HTNFR52G30NH(r6)
0.40 V-0 1:25
0.75 V-0 1:10
HTNFR52G35BL 0.75 V-0 1:25
HTNFR52G35L(+), HTNFR52G35AL 0.75 V-0 1:33
Polyamide 6T/
MPMDT HTNFR51G35L(+) 0.81 V-0 1:33
Polybutylene
Terephthalate
LW9030FR 1.50 V-0 1:25
S650FR 1.50 V-0 1:25
SK642FR 1.50 V-0 1:25
SK652FR1 1.50 V-0 1:16.5
T841FR (r4) 1.50 V-0 1:25
Polyethylene
Terephthalate
(PET)
FR530(l)(+)(f1), FR530L(l)(+)(f1) 0.75 V-0 1:25
Thermoplastic
Elastomer
(TPE)
HTR8068 1.60 V-0 1:25
EXXONMOBIL
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Ethylene
Propylene
Thermoplastic
Rubber
(EPTR)
251-80W232(f7) 1.50 V-2 1:20
251-92W232 1.50 V-0 1:20
251-70W232
1.00 V-2 1:10
LANXESS
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 6
B30S+(f1) 1.50 V-2 1:25
B31SK+ 1.50 V-2 1:25
Polybutylene
Terephthalate
B4235+ 1.50 V-0 1:10
TP364-302+, BF4232+(f1) 0.75 V-0 1:25
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polybutylene
Terephthalate
310(w) 1.50 V-0 1:20
310SE0(w) 1.50 V-0 1:20
310SE0(w),310SE0R(w) 1.50 V-0 1:20
420SE0(f1)(w)(GG)(rr1) 1.50 V-0 1:20
420SE0(f1)(w)(GG)(rr2) 1.50 V-0 1:20
457(w) 1.50 V-0 1:20
457(w), 451(w) 1.50 V-0 1:20
553(a)(f1)(w) 1.50 V-0 1:20
553(a)(f1)(w), 553E(a)(f1)(w),
553U(a)(f1)(w) 1.50 V-0 1:20
553(w)(f1), 553M(w)(f1) 1.50 V-0 1:20
DR48(w) 1.50 V-0 1:20
DR48,DR48M 1.50 V-0 1:20
V4760(a2) 0.40 V-0 1:20
EXVX1259, ENH4550 0.40 V-0 1:20
771 0.75 V-0 1:25
Polybutylene
Terephthalate/
Polycarbonate
(PBT/PC)
357(f1)(w)(IC), 357M(f1)(w)(IC),
357U(f1)(w)(IC) 1.50 V-0 1:20
357(f1)(w)(IC), 357U(f1)(w)(IC) 1.50 V-0 1:20
357X(f1) 1.50 V-0 1:20
V3900WX(GG)(f1)(IA),
V3901WX(GG)(f1)(IA)
3.00 V-0 1:20
1.50 V-0 1:20
357(w)(f2)(IC), 357M(w)(f2)(IC),
357U(w)(f2)(IC) 1.50 V-0 1:20
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polycarbonate
221(f2) 1.50 V-2 1:25
221R(f2) 1.50 V-2 1:25
500(f2), 500R(f2) 3.00 V-0 1:33
503(f1)
3.00 V-0 10:1
1.50 V-0 10:1
503(f1), 503R(f1)
3.00 V-0 10:1
1.50 V-0 10:1
943(ab) 1.50 V-0 1:20
943(f1) 1.50 V-0 1:20
943(f1), 923(f1) 1.50 V-0 1:20
950A, 920ASR, FXD911A(GG), 940ASR 1.50 V-2 1:25
CFR7630(f1)(gg*) 1.50 V-0 1:25
ML5139R(f2) 3.00 V-0 1:33
950A, FXD911A(GG), 940ASR 3.00 V-0 1:25
943 1.50 V-0 1:20
920A
Acrylonitrile
Butadiene Styrene
C2950 1.50 V-0 6:100
C6200(GG) 2.00 V-0 1:20
Acrylonitrile
Styrene Acrylate/
Polycarbonate
(ASA/PC)
HRA222 (GG) 0.80 V-2 1:20
SOLVAY
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyphenyl Sulfone
(PPSU) R-5100 (r1)(##), R-5000 (r1)(##) 1.50 V-0 1:10
Polyphthalamide
(PPA) AFA-4133 V0(+) (*) 0.75 V-0 1:25
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
ALBIS Polypropylene
(PP) PP 13 CV2 14 1.50 V-2 1:25
AVIENT Polyvinylchloride
M3700(X), M3755(X) 1.50 V-0 1:25
M3900 1.50 V-0 1:25
CHI MEI
Acrylonitrile
Butadiene Styrene
(ABS)
PA-765(+) 1.50 V-0 1:10
Acrylonitrile
Butadiene Styrene
PC-510(+) 1.50 V-0 1:25
EMS-CHEMIE Polyamide 6
(PA6) Grilon A 26 V0 0.75 V-0 1:25
FORMOSA Polycarbonate
(PC) #1700+(f2) 0.36-0.42 V-2 1:50
GEON Polyvinylchloride
85891(f1) 1.70 V-0 1:20
85891(f2) 1.70 V-0 1:20
M3700(X) 1.50 V-0 1:25
M3900
1:25
INEOS Polystyrene
(PS) 855 HV 3.00 V-1 100:4
INVISTA Polyamide 66
FRU4800 XHL (r1) 0.40 V-0 1:25
U4820L (r1) 0.40 V-2 1:25
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
KINGFA Polyamide 66
(PA66) PA66-R11G25 (##) 0.25 V-0 1:25
KURARAY Polyamide 9T
(PA9T) GP2300S 0.40 V-0 1:25
LG CHEM
Acrylonitrile
Butadiene Styrene
LUPOY GP-5106-F 3.00 V-0 1:20
LOTTE CHEMICAL
Acrylonitrile
Butadiene Styrene
(ABS)
VH-0800(+) 1.50 V-0 1:25
Polycarbonate
(PC) HN-1064(+)
0.75 V-2 1:10
1.20 V-1 1:10
Polystyrene
(PS) VH-1800+
1.50 V-0 1:25
MITSUBISHI Polycarbonate
(PC) S-2000+(f1) 1.50-1.80 V-2 1:10
POLYMER
PRODUCTS
Polystyrene
(PS)
ZYNTAR 351
2.00 V-0 1:20
1.50 V-0 1:20
ZYNTAR 7000 2.00 V-0 1:25
ZYNTAR 702 2.00 V-0 1:25
8020 2.00 V-0 1:20
8120 2.00 V-0 1:20
8130 1.50 V-0 1:20
POLYMER
RESOURCES
Polycarbonate
PC-FR1A-D, PC-
FR2A-D, PC-FR3A-D
3.00 V-0 1:33
1.50 V-2 1:33
SUMITOMO
Liquid Crystal
Polymer
(LCP)
E6007LHF(ra) 0.30 V-0 1:25
E6007LHF-MR(gt) 0.20 V-0 1:12.5
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
TORAY
Polyamide 6
(PA6) 1017 1.60 V-2 1:16.5
Polyamide 66
3004-V0(rr),
CM3004-V0(rr) 0.40 V-0 1:25
TRINSEO Polycarbonate
(PC) 891(w) 1.10 V-0 1:25
WELLMAN Polyamide 66/6
(PA66/6) 220-N, 21L-N, 22L-N 1.50 V-2 1:25
WESTLAKE Polyvinylchloride
6597(f1), HF-6597(f1) 1.50 V-0 1:25
SP-7107 (f1)(a) 3.00 V-0 1:25
5VA AND 5VB
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
RATING COLORS
MAXIMUM
LET-DOWN
AVIENT Polyvinylchloride
(PVC) M3900 1.50 5VB
ALL 1:25
WHITE 1:10
COVESTRO
Acrylonitrile
Butadiene Styrene
FR3010 + (z) 3.00 5VA ALL 1:25
DUPONT
Polyamide 66/6T
(PA66/6T) FR95G25V0NH 1.50 5VA ALL 1:25
Polybutylene
Terephthalate
LW9030FR
2.00 5VA BLACK 1:25
3.00 5VA ALL 1:25
SK642FR 1.50 5VA BLACK 1:25
GEON Polyvinylchloride
(PVC) M3900 1.50 5VB
ALL 1:25
WHITE 1:10
Polybutylene
Terephthalate/
Polycarbonate
(PBT/PC)
V3900WX(GG)(f1)(IA),
V3901WX(GG)(f1)(IA) 3.00 5VA ALL 1:20
1.844.4AVIENT
www.avient.com
Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2020-03/Global_High_Yield_%26_Leverage_Conference %281%29.pdf
Leverage
PolyOne’s
global reach
Phase 1 Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 24
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
256
309
$36
$100
Established Acquisitions
(> 7 years)
+ 20% + 165% + 1000 bps
CLARIANT MASTERBATCH ACQUISITION DRIVES
NEXT LEVEL SPECIALTY TRANSFORMATION
ACCELER ATING GR OWTH WITH
SUSTAINABLE SOLUTIONS
T R A N S F O R M A T I O N H E A D L I N E S
PolyOne Corporation 26
F I T W I T H F O U R P I L L A R S T R A T E G Y
PolyOne Corporation 27
Specialization
• Innovation-led organization with
heavy emphasis on R&D
• World-class expertise in color
formulation
• Strong presence in specialty end
markets including Consumer,
Packaging and Healthcare
Globalization
• Diverse geographic portfolio with
an established presence in every
major region
• Expands PolyOne’s ability to serve
customers in key growth areas
including India, China and
Southeast Asia
Operational
• Extensive manufacturing footprint
with 46 facilities
• Organizational focus on optimizing
supply chain to better serve
• Color design expertise
Commercial
• Value-focused salesforce with vast
experience marketing and
commercializing specialty
technologies
• Diverse customer portfolio with
established OEM’s
People
Experienced and
talented
associates with a
winning mentality
E N D M A R K E T T R A N S F O R M A T I O N
PolyOne Corporation 28
18%
50%
22%
High Growth End Markets
Percentage of Total Revenue
38%
E N D M A R K E T T R A N S F O R M A T I O N
PolyOne Corporation 29
38%
Wire &
Electrical &
Electronic
18%
Building &
Wire &
Electrical &
Electronic
C O M P L E M E N T A R Y G E O G R A P H I C P R E S E N C E
PolyOne Corporation 30
38% Europe
33%
22%
Europe &
Middle East
48%
23%
Color & Engineered
Clariant Masterbatch
Net Sales by Geographic Region
Europe &
Middle East
39%
21%
Pro Forma Color &
Engineered Materials
U N I F I E D F O C U S O N S U S T A I N A B I L I T Y
PolyOne Corporation 31
2006 - 2013
2013 – 2019
PEO PLE
PRO D U C TS PLA N ET
PER FO R M A N C E
Clariant Masterbatch
• Building mini-recycling plants to
facilitate customer projects on
design for recycling - CycleWorks
• Uses packaging additives &
colorants to improve recyclability
and enhance automated sorting
• Manufactures oxygen scavengers
to extend shelf-life of perishable
items and reduce material
requirements
• Combines UV-blocking additive
colorants & other barriers to
prevent spoilage and waste
• Offers spin-dyeing solutions that
use significantly less water than
traditional methods, allowing for
sustainable coloration of textiles
• Produces infrared absorbing
additives that reduce energy
requirements for bottle
manufacturing
($ in millions)
(Continuing
Operations)
Clariant Color &
Additive Masterbatch
Synergies
New
2019 Total Sales $2,863 $1,150 $4,013
2019 Adjusted EBITDA $309 $130 $60 $499
% Margin 10.8% 11.3% 12.4%
2019 CapEx $68 $85
% Sales 2.4% 2.1%
2019 Free Cash Flow $161 $250
2019 Adjusted EPS $1.69 $2.22
2019 PF Adjusted EPS $1.69 $2.54
P O L Y O N E + C L A R I A N T M A S T E R B A T C H B U S I N E S S
PolyOne Corporation 32
(1) Excludes step-up of depreciation & amortization related to purchase accounting of transaction
(1)
$0.85/share
O V E R 8 5 % O F A D J U S T E D E B I T D A F R O M S P E C I A L T Y
PolyOne Corporation 33
46%
66%
0%
40%
60%
80%
100%
2005 2010 2015 2019E PF
%
o
f
A
d
ju
st
e
d
E
B
IT
D
A
*
JV's Performance Products & Solutions Distribution Specialty
87%
* Adjusted EBITDA is EBITDA excluding corporate costs and special items
** 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business acquisition with synergies
Specialty EBITDA $14M $117M $273M $500M
**
T R A N S A C T I O N O V E R V I E W
• Expected mid-2020, subject to regulatory approvals and customary closing conditions
Closing
Conditions /
Timing
• Committed financing in place
• Permanent financing to be combination of available cash on-hand, new debt and equity component to limit leverage
• Equity issuance of $500MM
• Target net leverage below 3.5x, 3.1x synergized
PolyOne Corporation 36
• $1.45 B net purchase price
• Represents 11.1x adjusted EBITDA (excluding synergies), 7.6x adjusted EBITDA (including synergies)
• Pre-tax synergies of $60MM expected to be fully realized by the end of 2023
• Synergies realized from sourcing, operational, technology / commercial, and general administrative
Transaction
Value
Synergies
Estimated Synergy Breakdown
$60MM
• Expect EBITDA synergies of $60MM
– Proven integration expertise with a decade of acquisition experience
– Administrative synergies reflect reduction of duplicative internal and
third-party costs
• Run rate synergies of $20MM by the end of Year 1 with $60MM
achieved by the end of Year 3
• Significant additional opportunity for geographical expansion
– Clariant Masterbatch business has complementary regional presence
in key growth areas including India & Southeast Asia
• Opportunity to accelerate growth with a combined portfolio of
innovative solutions aligned with sustainability megatrends
Sourcing
40%
Operational
Administrative
PolyOne Corporation 37
S I G N I F I C A N T S Y N E R G Y O P P O R T U N I T I E S
$450
$600 $624
$743
2019 2020 2021 2022 2023 2024 2025 2026
A T T R A C T I V E F I N A N C I N G S T R U C T U R E
Attractive Debt
Maturity Profile
Existing Revolver Existing Senior Notes Existing Term Loan B
New Debt
Summary
Terms on
New Debt
• $465 million of cash from the balance sheet expected to fund a portion of the purchase price
• Bridge financing for remainder fully committed from Citi, Morgan Stanley and Wells Fargo
• Permanent financing expected to include a combination of long-term debt and new equity
• The timing of the permanent financing is subject to a number of factors, including, but not limited
to, market conditions
• PolyOne is committed to preserving a strong balance sheet
– Target net leverage at close below 3.5x, excluding synergies
• Pro forma capital structure positions PolyOne with flexibility to pursue continued growth strategy
• New financing expected to have same or better covenant package than existing capital structure
• Capital structure would be “covenant lite”
Capital
Policy
• Transaction in line with PolyOne’s disciplined capital allocation policy
• Existing PolyOne dividend policy to be maintained
• Focus on deleveraging in the near term
2028+
PolyOne Corporation 38
PolyOne Corporation 37
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.70
$0.78
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Cumulative Share Repurchases
(In millions)
$0
$150
$300
$450
$600
$750
$900
2011 2012 2013 2014 2015 2016 2017 2018 2019
$917M
R E T U R N I N G C A S H T O S H A R E H O L D E R S
O V E R $ 1 . 2 B I L L I O N S I N C E 2 0 1 1
PolyOne Corporation
Increasing Annual Dividend
38
$0.81
PolyOne Corporation 39
W H Y I N V E S T I N P O L Y O N E ?
https://www.avient.com/sites/default/files/2020-07/avient-abac-sweden-200721.pdf
Nordamerika
Globalt huvudkontor Avon Lake,
USA
33587 Walker Road Avon Lake, Ohio,
USA 44012
Gratis inom USA: +1 866 765 9663
Telefonnummer: +1 440 930 1000
Fax: +440 930 3064
Asien och
Stillahavsområdet
Regionalt huvudkontor Shanghai,
Kina
2F, Block C 200 Jush Road
Pudong, 201206 Shanghai, Kina
Telefon: +86 (0) 21 6028 4888
Fax: +86 (0) 21 6028 4999
Sydamerika
Regionalt huvudkontor Sao Paulo,
Brasilien
Av.
https://www.avient.com/sites/default/files/2021-03/avient-antitrust-2021-update-english.pdf
Contact Avient’s Legal Department at your first opportunity and document the incident.
9
North America
Global Headquarters
Avon Lake, United States
33587 Walker Road
Avon Lake, OH, United States
44012
Toll Free: +1 866 765 9663
Phone: +1 440 930 1000
Fax: +440 930 3064
Asia Pacific
Regional Headquarters
Shanghai, China
2F, Block C
200 Jinsu Road
Pudong, 201206
Shanghai, China
Telephone: +86 (0) 21 6028 4888
Fax: +86 (0) 21 6028 4999
South America
Sao Paulo, Brazil
Av.
https://www.avient.com/sites/default/files/2020-07/avient-abac-urdu-200722_0.pdf
subject=
http://avient.ethicspoint.com
5
فوری حوالہ: ABAC کے کرنے اور نہ کرنے کی چیزیں
کریں
جان لیں کہ Avient کسی بھی طرح کی رشوت اور بدعنوانی سے منع کرتا ہے اور سہولیاتی ادائیگی کی اجازت نہیں دیتا ہے •
ہماری ABAC پالیسیوں کے قابل اطلاق پہلوؤں سے واقفیت حاصل کریں اور ماتحتوں اور فریقین ثالث کو ان سے آگاہ کریں •
سوالات پوچھیں اگر پالیسیاں یا کئے جانے والے ضروری اقدامات واضح نہیں ہیں •
فوری طور پر خلاف ورزیوں یا مشتبہ خلاف ورزیوں کی اطلاع اپنے نگراں، قانونی محکمہ یا ایتھکس ہاٹ لائن کو دیں •
جان لیں کہ “قیمتی” کی پیمائش رقم کے حوالے سے کرنا ضروری نہیں ہے •
جان لیں کہ رشوت میں درج ذیل شامل ہوسکتے ہیں: •
نقد اور نقدی کے مساوی )گفٹ کارڈز یا گفٹ سرٹیفکیٹ( •
تحائف، تفریح اور مہمان نوازی جہاں کاروبار کا کوئی واضح مقصد نہ ہو یا جو کاروباری ضروریات سے پرے ہوں •
سفری اخراجات یا تعطیلاتی تفریح کی ادائیگی •
قابل اطلاق کسٹم کے تقاضے کو نظرانداز کرنے یا ٹیکس کی واپسی میں تیزی لانے کے لیے کسی سرکاری عہدیدار کو رقم دینا •
ذاتی خدمات، بخَشِش، اور قرضے •
اثر و رسوخ رکھنے والے فرد کے کنبہ کے ممبر یا دوست کو ملازمت یا دیگر فوائد کی پیشکش •
سیاسی پارٹی اور امیدواروں کو تعاون •
رفاہی عطیات اور کفالت •
دوسرے کم واضح آئٹموں میں مبادلہ عمل یا سروس، سرمایہ کاری کے مواقع اور اپنے حق میں ذیلی معاہدے کروانا شامل ہے •
جان لیں کہ اس ممانعت کا اطلاق اس صورت میں بھی ہوتا ہے چاہے کوئی شے اس فرد کو براہ راست یا کسی اور فرد، جیسے خاندان کے رکن، دوست یا کاروباری ساتھی •
کو براہ راست فائدہ پہنچائے
کتابوں، ریکارڈ، اور اکاؤنٹس کو معقول تفصیلات کے ساتھ رکھیں، اور لین دین کو درست اور منصفانہ طریقے سے دکھائیں •
ایجنٹوں، ڈسٹری بیوٹر اور دیگر فریقین ثالث سے تعلقات قائم کرنے سے قبل اور تعلقات کے دوران ان کی اچھی طرح جانچ پڑتال کر لیں اور قانونی محکمہ سے منظوری •
حاصل کریں۔
فریقین ثالث کے ذریعہ کی جانے والی کاروباری سرگرمیوں کا صحیح طریقے سے انتظام اور نگرانی کریں •
نہ کریں
کاروبار حاصل کرنے یا کاروبار کو برقرار رکھنے میں یا کاروبار سے متعلق کچھ دیگر غیر مناسب فائدہ حاصل کرنے میں Avient کی مدد کرنے کے ليے سرکاری اہلکاروں •
اور/یا پرائیویٹ سیکٹر کے ملازمین میں سے کسی کو کسی قیمتی چیز کی ادائیگی کی پیشکش، وعدہ یا ادائیگی نہ کریں، یا ادا کرنے کا اختیار نہ دیں۔ اس ممانعت کا
اطلاق اس صورت میں بھی ہوتا ہے چاہے وہ راست پیشکش ہو یا ادائیگی براہ راست یا کسی اور شخص کے ذریعے کی گئی ہو
Avient کے بہی کھاتوں اور ریکارڈز میں گمراہ کن، نامکمل، یا غلط اندراجات •
فریقین ثالث سے معاملہ کرتے وقت خطرے کے انتباہات کو نظرانداز •
شمالی امریکہ
North America
Global Headquarters
Avon Lake, United States
33587 Walker Road
Avon Lake, OH, United States
44012
ٹول فری:+1-866-765-9663
فون:+1-440-930-1000
+440 930 3064:فیکس
ایشیا پیسیفک
Asia Pacific
Regional Headquarters
Shanghai, China
2F, Block C
200 Jinsu Road
Pudong, 201206
Shanghai, China
+86 (0) 21 6028 4888:ٹیلیفون
+86 (0) 21 6028 4999:فیکس
جنوبی امریکہ
South America
Sao Paulo, Brazil
Av.
https://www.avient.com/sites/default/files/2020-07/avient-abac-spanish-la-200720.pdf
Norteamérica
Sede central global de Avon Lake,
Estados Unidos
33587 Walker Road Avon Lake, OH,
Estados Unidos 44012
Número gratuito:
+1 866 765 9663
Teléfono: +1 440 930 1000
Fax: +1 440 930 3064
Asia Pacífico
Sede central regional de Shanghái,
China
2F, Block C 200 Jinsu Road
Pudong, 201206 Shanghái, China
Teléfono: +86 (0) 21 6028 4888
Fax: +86 (0) 21 6028 4999
Sudamérica
Sede central regional de San Pablo,
Brasil
Av.
https://www.avient.com/sites/default/files/2020-07/avient-abac-canada-200720.pdf
Amérique du Nord
Siège social mondial Avon Lake,
États-Unis
33587 Walker Road Avon Lake, OH,
États-Unis 44012
Sans frais : +1 866 765-9663
Téléphone : +1 440 930-1000
Télécopieur : +1 440 930-3064
Asie-Pacifique
Siège social régional Shanghai,
Chine
2F, Bloc C 200, Jinsu Road
Pudong, 201206 Shanghai, Chine
Téléphone : +86 (0) 21 6028 4888
Télécopieur : +86 (0) 21 6028 4999
Amérique du Sud
Siège social régional Sao Paulo,
Brésil
Av.