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For the year, sales at Avon Lake, Ohio-based Avient were up more than 2 percent to almost $3.4 billion. But the firm's annual profit plunged almost 46 percent to $82.8 million.
Private equity firm HIG Capital has plans to grow Avient Corp.'s distribution unit, which it is acquiring for $950 million in cash.
One of the largest resin distributors in North America has a new owner. Avient Corp. announced Aug. 12 that it is selling its distribution unit to an affiliate of private equity firm HIG Capital for $950 million in cash.
The deals will continue Avient's focus on building an advanced composites platform, a strategy the company has been pursuing for 10 years. The transaction includes Dyneema, the strongest man-made fiber in the world.
Governor Kay Ivey was invited Monday by Polymer Industries and the International Association of Plastic Distribution to tour the high-performance plastics manufacturer located in Henagar on her most recent trip