Avient Corporation, Cleveland, has announced it has acquired United Kingdom-based MagnaColours Ltd. for $48 million.
“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.”
The MagnaColours materials will join Avient’s existing specialty inks portfolio, alongside prominent brands such as Wilflex and Rutland.
“While growing Magna, I had a goal to revolutionize the industry and promote sustainable options – our proven technology accomplishes that,” says Tom Abbey, chairman of Magna. “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.” — D.S.
Stratasys Ltd. has launched what it describes as a new direct-to-garment (DTG) solution for its J850 TechStyle printer, the newest offering in the Stratasys 3DFashion direct-to-textile printing technology product line.
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The Women’s California Wave Wash Sunday Hoodie, offered by the Independent Trading Co., is the latest style in this collection, which also features crew necks, pullovers and full-zip styles.
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Per the research firm Future Market Insights (FMI) starting from a 2023 baseline of $3.4 billion, the custom T-shirt printing market in the United States is projected to reach $9.9 billion by 2033.
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