Röhm and SABIC to Found New Global Player Polyvantis
The new entity, Röhm announced, will offer products such as films, sheets, pipes & rods and will serve a multitude of segments, including building & construction, transportation & aviation, electrical & electronics, automotive and home & garden.
Polyvantis’ global organization with sales of ca. $700 million will have a workforce of about 1,500 employees and 16 production sites across the Americas, Europe, Asia, and Africa.
In December 2022, Röhm signed an agreement to acquire SABIC’s Functional Forms division for polycarbonate film and sheet products globally. The carve-out of Röhm's Acrylic Products business and SABIC's Functional Forms business and the closing of the transaction with SABIC are expected in the second quarter of 2024, subject to customary regulatory approvals.
Polyvantis has concluded long-term license agreements with both Röhm and SABIC for the respective brands in their segment. The Plexiglas/Acrylite molding compounds business will remain with Röhm, while the polycarbonate-Lexan resins business will remain with SABIC.
“The name Polyvantis reflects the aspiration to become a leading multi-material supplier of film and sheet products with a strong market presence,” commented Michael Pack, CEO of Röhm. According to Röhm, the name “Polyvantis” combines the Greek prefix “Poly”, meaning “many”, with the Italian “avanti” or the French “avant”, both of which mean “forward”. This is intended to reflect the diversity of products and the pursuit of progress in the field of polymers and related materials.
Pack added: “Polyvantis will remain closely associated with Röhm and SABIC thanks to the shared brands and long-term agreements. We look forward to the future partnership and are convinced that new market opportunities will open up for Polyvantis.”