Ascend expanding compound production into Latin America
The Houston-based company plans to purchase a compounding facility in central Mexico owned by DM Color Mexicana SA de CV.
In a move that expands its production operations into Latin America for the first time, Ascend Performance Materials is purchasing a compounding facility in San Jose Iturbide, Mexico.
The purchase price has not been disclosed, but officials with Houston-based Ascend said the acquisition of the compounding facility owned by DM Color Mexicana SA de CV – which is a joint venture between Dainichiseika Group and Mitsubishi Corp. – is expected to close in the second quarter of 2022.
“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.”
Ascend officials say the company has grown its global production footprint with four acquisitions over the last 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.