Ascend buys compounding facility in Mexico
The acquisition aims to expand Ascend's global footprint and production capacity for high-performance engineered materials.
In a move aimed at growing its global footprint and expanding production capacity for high-performance engineered materials, Houston-based Ascend Performance Materials has announced plans to purchase a compounding facility in San Jose Iturbide, Mexico.
In a Dec. 8 news release, Ascend officials said the purchase agreement includes the assets of DM Color Mexicana, a joint venture between Dainichiseika and Mitsubishi Corp.
The financial terms of the deal have not been released.
“We continue to invest in and grow our engineered materials business with a focus on regional production,” said Phil McDivitt, Ascend’s president and CEO. “This acquisition establishes our footprint in Latin America and allows us to produce our world-class materials closer to our global customers.”
The purchase is Ascend’s fourth acquisition in 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, Ascend’s senior vice president for polyamides.
The deal is expected to close in the second quarter of 2022.