Ascend is planning to acquire a compounding facility in Mexico to expand its production capacity.
The company Ascend Performance Materials has recently announced that it intends to purchase a new compounding facility in San Jose Iturbide (Mexico), in order to grow and further develop the business’ global presence and expand the production capacity for high-performance engineered materials.
The purchase agreement also includes the assets of DM Color Mexicana, a joint venture between Dainichiseika and Mitsubishi Corp. The deal is expected to be finalised in the second quarter of 2022. It will be Ascend’s fourth acquisition over three years.
“We continue to invest in and grow our engineered materials business with a focus on regional production. This acquisition establishes our footprint in Latin America and allows us to produce our world-class materials closer to our global customers,” declared Phil McDivitt, president and CEO of Ascend.
“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,” added Isaac Khalil, senior vice president for polyamides at Ascend.