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MagnaColours Joins Forces with Avient Corporation

Avient Corporation acquires sustainable, water-based inks manufacturer MagnaColours Ltd. for $48 million

Avient Magna Colours

Avient Corporation, a specialized and sustainable material solutions provider, acquires MagnaColours Ltd. for $48 million. Magna brings sustainable, water-based inks to the textile screen printing industry. The MagnaColours materials will join Avient’s existing speciality inks portfolio, alongside brands such as Wilflex and Rutland. 

“Magna represents an important investment in sustainable solutions, as brand owners seek alternatives to legacy technologies,” says Robert M. Patterson, chairman, president, and CEO, Avient Corporation. “We are thrilled to have Magna join Avient. We expect our collective inks portfolio will grow substantially as the threat of COVID subsides, people can safely attend sporting and other live events in person, and travel increases.” 

Tom Abbey, chairman of Magna, adds, “While growing Magna, I had a goal to revolutionize the industry and promote sustainable options — our proven technology accomplishes that. With Avient, I have found a leader aligned with our sustainability values to take us to the next level and truly globalize the business. Avient was the clear choice, and I’m thrilled for Magna to begin its next chapter.” 

Avient Corporation, with expected 2021 revenues of $4.3 billion, employs approximately 8,400 associates and is a certified ACC Responsible Care company, a founding member of the Alliance to End Plastic Waste, and a certified Great Place to Work.

alleebruce

Alexandria Bruce

Allee Bruce is the managing editor of GRAPHICS PRO and WRAPS magazines.

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