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