December 9, 2021
Compounds, resins, and chemicals maker Ascend Performance Materials LLC is eying an expansion in the Latin American region through the acquisition of a compound production plant in San Jose Iturbide, Mexico, the firm announced in a release Wednesday.
“We continue to invest in and grow our engineered materials business with a focus on regional production,” Phil McDivitt, the company’s chief executive officer and president, said in a statement. “This acquisition establishes our footprint in Latin America and allows us to produce our world-class materials closer to our global customers.”
The deal will include the assets of DM Color Mexicana, a joint venture between Mitsubishi Corp. and Dainchiseika.
Ascend has increased its global production footprint through four acquisitions over the past three years.
“We remain committed to supporting our customers’ growth and innovation through continued investments in our global manufacturing footprint, the development of new materials and enhanced technical services and support,” said Isaac Khalil, senior vice president, Polyamides for Ascend, in the release.
The parties expect the transaction to close in the second quarter of 2022.
Ascend said in June that it increased the capacity of its Greenwood, SC manufacturing plant during a multi-million-dollar project to boost production of HiDura long-chain polyamides.
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