30 Oct 2017
Ascend to increase capacity of nylon 6,6 building blocks, polymers by 10 to 15 percent
Capacity investments made in ADN, HMD, adipic acid, and polymers to address growing market demand
HOUSTON – October 30, 2017 – Ascend Performance Materials, the world’s largest fully integrated producer of nylon 6,6 resin, today announced its plans to increase production capacity across its intermediate chemicals and polymers portfolio by 10 to 15 percent to support the continued growth of its customers.
“The global demand for nylon 6,6 and our intermediate chemicals continues to grow at 3 to 4 percent per year in a range of diverse applications,” said Phil McDivitt, Ascend’s president and CEO. “Ascend has cost effective expansion opportunities that allow us to bring additional capacity online as the market needs it.”
Ascend will increase capacity of adiponitrile (ADN), hexamethylene diamine (HMD), adipic acid and polymers through 2018. Ascend’s unique production process allows for quick capacity additions with high capital efficiency and without disruption to operations.
“We have consistently added capacity through our entire nylon 6,6 value chain since 2015, increasing our production by 10 to 30 percent depending on the product with no impact on our customers. We are committed to a continuous, reliable supply to our customers,” said McDivitt.
Unlike many other nylon 6,6 producers, Ascend sells polymers and intermediates into nearly every end use market and geography. “Our more than 60-year history of serving a wide variety of markets has given us an unparalleled understanding of the entire nylon 6,6 value chain,” said Scott Rook, Ascend’s vice president of nylon. “The unique qualities of nylon 6,6 have made it the material of choice in numerous innovative applications.”
“Our capital efficient expansion plans ensure that market demand is met and pricing remains competitive,” continued Rook.
Earlier this year, the company consolidated nylon fiber production at its plant in Greenwood, South Carolina, and added compounding capacity at its site in Foley, Alabama, to better align its business with the market.
“Our energy and capital are focused on supporting customers throughout the nylon 6,6 value chain,” said Rook. “Our recent capacity additions in Greenwood and Foley are in line with our current expansion plan and help us keep pace with market demand.”
The company did not disclose the amount of capital investment related to the expanded production capacity.
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About Ascend Performance Materials
Ascend Performance Materials is a global premium provider of high-quality plastics, fibers and chemicals. Ascend is one of the world’s largest integrated PA66 producers, with its own in-house manufacturing facilities, ensuring total security of supply. Ascend’s product range has earned it an unequalled reputation for quality, innovative techniques and an enlightened approach to business that expands the horizons of possibility. With eight global locations and more than 2,400 people working at our sites around the world, Ascend has the inspiration, the expertise, the people and the attitude toward innovation to consistently deliver the right solution for customers.
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More information about Ascend can be found at www.ascendmaterials.com.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. The firm’s purpose is to build strong and growing businesses that create substantial long-term economic value. SK utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth and profitability as well as lower operating risk. SK Capital’s portfolio companies generate revenues of approximately $8 billion annually and employ approximately 9,000 people. The firm currently manages more than $1.5 billion of committed capital. For more information, please visit www.skcapitalpartners.com.
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