Ascend to build HMD plant in China's Jiangsu province
PR94033
HOUSTON, Jan. 13, 2022 /PRNewswire=KYODO JBN/ --
Ascend Performance Materials announced today it signed an investment agreement
to construct a new hexamethylene diamine and specialty chemicals plant in
Lianyungang, China in the Xuwei New Area Park. The new plant will be Ascend's
first chemical production facility and the largest investment the company has
made outside of the United States.
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The plant will produce HMD and specialty chemicals to supply Ascend's global
polyamide production and serve its regional customers.
"Our growth is driven by increasing market demand and growing collaboration
with our customers globally," said Phil McDivitt, Ascend's president and CEO.
"The materials we produce are helping drive technological transformations
across markets, from e-mobility to automation. Our new HMD plant positions us
to continue supporting these transformations well into the future."
Ascend, a fully integrated producer of durable engineered materials, serves a
variety of sectors including automotive, paints and coatings, electrical and
electronics, consumer goods, and cable ties and fasteners.
"China and Asia remain high-growth markets for us," said Dr. Kevin Wu, Ascend's
senior vice president and managing director for Asia. "This new plant is a
symbol of our growth in the region and the partnerships we have developed. We
thank the Xuwei New Area Park administrators and the officials in Lianyungang
for their partnership in this project."
Ascend signed a memorandum of understanding in November 2020 during CIIE in
Shanghai with Xuwei New Area Park, witnessed by the leaders of Jiangsu Province
and Lianyungang.
Ascend will begin construction later this year with a plant startup targeted
for the second half of 2023.
The announcement of the new site construction follows a series of acquisitions
and capacity expansions to enable regional growth and continued global supply
security. In 2018, Ascend made its first acquisition in Tilburg, Netherlands,
followed by acquisitions in Mozzate, Italy; Suzhou, China; and Fosses, France.
Ascend will also complete an acquisition in San Jose Iturbide, Mexico and the
construction of Ascend Asia Innovation Center later this year.
About Ascend Performance Materials
Ascend Performance Materials makes high-performance materials for everyday
essentials and new technologies. Our focus is on improving quality of life and
inspiring a better tomorrow through innovation. Based in Houston, Texas, and
with regional offices in Shanghai, Brussels and Detroit, we are a fully
integrated material solutions provider with nine global manufacturing
facilities in North America, Europe and Asia. Our 2,600-person global workforce
makes the engineered materials, fabrics, fibers and chemicals used to make
safer vehicles, cleaner energy, better medical devices, smarter appliances and
longer-lasting apparel and consumer goods. We are committed to safety,
sustainability, inclusion and diversity, and to the success of our customers
and our communities.
Learn more about Ascend at www.ascendmaterials.com
Contact: Alison Jahn, +1-713-210-9809,
ajahn@ascendmaterials.com
SOURCE Ascend Performance Materials
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