Ascend Performance Materials, the largest fully integrated manufacturer of polyamide 66 resin, signed an agreement to purchase the assets from NCM (Changshu) Co., Ltd. and Tehe Engineering Plastic (Suzhou) Co., Ltd. known, located in Changshu Yushan High-tech Industrial Park (known as "The Park"), one of the most important advanced manufacturing parks in the east coast of China, 100 kilometers outside of Shanghai.

The takeover gives Ascend a flexible basis for growth in the region. The company's general plan provides for the expansion of the compounding facilities at the site as well as a global research and development center with a focus on existing applications in the automotive, electrical and electronics sectors as well as consumer and industrial goods, but also on new applications in areas such as 3D Printing and high performance films.

Phil McDivitt, President and CEO of Ascend, said the purchase would enable the company to better serve Asian customers and support future market growth. "Ascend's long-term plan includes delivering world-class service to customers around the world," said McDivitt. "The Park, with its proximity to both China's major automotive industry clusters and Shanghai, makes it an ideal choice as a hub that helps us better reach the fast-growing Asian markets."

Senior Vice President and Managing Director for Ascend Dr.'s Asia Pacific operations Kevin Wu said that the new facility will help support efforts to bring it to market quickly and localize customer support. "This is an exciting chapter for Ascend in Asia because it offers regional manufacturing and innovation capabilities to respond efficiently to customer needs and adapt recipe solutions for the Asian markets," he said. "We are delighted to have secured such a good location and we are grateful for the strong support from The Park officials and Changshu City."

The terms of the transaction have not been released. The company plans to finalize the transfer of ownership in August.

About Ascend Performance Materials

Ascend Performance Materials is a global premium provider of high quality plastics, fibers and chemicals and the world's largest integrated manufacturer of PA66 resin. Headquartered in Houston, Texas, Ascend has nine global locations, including five fully integrated manufacturing facilities in the southeastern United States and a facility for manufacturing engineering plastics in Europe, all focused on innovation and safe production. With three of the world's largest chemical factories, Ascend materials are the building blocks for products that are used in everyday applications, from clothing to airbags, cable ties, printed circuit boards and carpets to car parts. Ascend's 2600-strong global workforce is committed to helping communities in which we operate.

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Contacts
For further information:
Ascend Performance Materials
Alison Jahn, Vice President, Global Communication
Tel .: +1 713 210 9809
Email: ajahn@ascendmaterials.com

For editorial inquiries and extracts:
EMG
Rita Verschuuren
Tel .: +31 164 317 024
E-Mail: rverschuuren@emg-pr.com

 

Source: businesswire.com

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