Materials maker AdvanSix Inc. posted strong financial results in 2021.
The Parsippany, N.J.-based firm, a major nylon resins maker, reported 2021 sales of almost $1.7 billion, up more than 44 percent vs. 2021. Full-year profit tripled to almost $140 million. AdvanSix's nylon unit showed sales of almost $423 million, up a little more than 50 percent.
"In 2021, we once again differentiated our performance by delivering outstanding results and supporting our customers, all while continuing to successfully navigate the ongoing COVID-19 pandemic, significant industry supply chain disruptions, and an inflationary cost environment," President and CEO said Erin Kane said in a Feb. 18 news release.
AdvanSix also announced Feb. 18 that it was acquiring U.S. Amines LLC, a maker of alkyl and specialty amines for agrochemicals and pharmaceuticals, for about $100 million in an all-cash deal.
Looking to 2022, officials said that AdvanSix is expecting strong North America demand for nylon and chemical intermediates to continue. "We are gaining momentum for our next chapter and remain confident that AdvanSix is well positioned to deliver robust performance and returns over the long-term," Kane said.
During 2021, AdvanSix added 100 percent post-industrial recycled grades to its portfolio of Aegis-brand nylon 6 resins and Capran-brand biaxially oriented nylon films. Officials said the new products allow customers to address sustainability goals by incorporating materials from recycled monomers reclaimed from waste streams into their end products.
AdvanSix employs 1,400 and operates a nylon production site in Chesterfield, Va.