Avient, a Cleveland, Ohio-based provider of specialized and sustainable material solutions, said it has reached a deal with Royal DSM to purchase DSM Protective Materials for $1.485 billion.

The purchase price is subject to certain customary adjustments, Avient said. Avient has also announced that it plans to explore sale options for its Avient Distribution business.

“We are thrilled to add the Dyneema brand and its unique technologies to Avient, further expanding our growing composites portfolio,” said Robert M. Patterson, chairman, president and
CEO of Avient Corporation. “For 10 years, we have been building our advanced composites platform by focusing on high-performance materials for applications where failure is not an option. The addition of the Dyneema portfolio will raise Avient’s material offerings to the highest levels on the performance spectrum of composites and engineered fibers.”

Estimated sales and EBITDA for the Dyneema business in 2022 are approximately $415 million and $130 million, respectively. The business includes six production facilities, four R&D centers and approximately 1,000 employees around the world.

Avient also announced its 2022 first-quarter financial results. 1Q sales grew to $1.3 billion, an 11% increase over the same quarter in 2021.