Full-Time
Posted on 7/6/2025
Manufactures nylon 6,6 and chemical products
No salary listed
Expert
Houston, TX, USA
In Person
Ascend Performance Materials manufactures a range of chemical products, plastics, and fibers, with a focus on nylon 6,6 resin, which is widely used in products like airbags and apparel. The company operates manufacturing facilities in North America and has regional offices in cities such as Shanghai, Brussels, and Detroit, allowing it to cater to clients in various sectors including automotive, electronics, and consumer goods. Ascend's integrated production process sets it apart from competitors, enabling efficient manufacturing and distribution of its materials. The company's goal is to provide high-quality performance materials that meet the diverse needs of its global customer base.
Company Size
1,001-5,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Houston, Texas
Founded
2009
Help us improve and share your feedback! Did you find this helpful?
Health Insurance
Wellness Program
Performance Bonus
Professional Development Budget
All other facilities continue to operate as usual; shipments and product delivery to continue in normal courseRemains on track to emerge from Chapter 11 this fallHOUSTON, June 17, 2025 /PRNewswire/ -- Ascend Performance Materials, a leading producer of high-performance and durable engineered materials for everyday essentials and new technologies, announced today its decision to initiate a wind down of operations at its hexamethylene diamine production facility in Lianyungang, China. This decision follows a comprehensive evaluation of the facility's long-term viability amid evolving market dynamics and regulatory landscapes."Ascend has made significant strides improving the business as we continue to focus on driving operational effectiveness," said Phil McDivitt, President and CEO of Ascend Performance Materials. "In April, with the support of our lenders, we initiated a financial restructuring process to reduce our debt and position Ascend for the future. As we evaluated the market conditions and ongoing trade disputes, we determined that the LYG production facility is no longer the best way to support our customers in the region. Accordingly, we have made the decision to wind down the facility."He continued, "Decisions that impact our people are never easy. The people in our LYG plant showed excellence and dedication in everything they did, and we thank them for their contributions to Ascend, and this decision is not a reflection of the hard work and dedication of the team in LYG
HOUSTON, May 12, 2025 /PRNewswire/ -- Ascend Performance Materials announced today the production of high-purity acrylonitrile at its Chocolate Bayou plant in Alvin, Texas, after the installation and commissioning of new purification equipment."We're excited to provide our high-purity acrylonitrile into new end-markets and support technologies that drive innovation and sustainability," said Alex Mihut, vice president of performance chemicals at Ascend. "This advancement not only strengthens our product portfolio but also reinforces our commitment to delivering essential materials that meet the evolving needs of our customers and the industry."Acrylonitrile is used to make a variety of polymers and synthetic rubbers. High-purity acrylonitrile has applications in aerospace, renewable energy technologies and healthcare. Ascend's equipment was funded in part through a contract with the U.S. government to ensure the supply of vital raw materials for the domestic production of nitrile rubber gloves."This is a significant milestone in this site's 63-year history," said Scott Van Wagener, senior site director of the Chocolate Bayou plant. "We continue to invest in technologies that grow our site and support our customers' growth."Besides high-purity acrylonitrile, Ascend will further expand capabilities in Chocolate Bayou to include acetonitrile production
In connection with this process, Ascend has received a commitment for US$250 million in debtor-in-possession financing from its lenders, which is expected to provide it with sufficient liquidity to support it throughout the Chapter 11 process.
Initiates restructuring process with support from existing lenders to strengthen balance sheet and improve financial foundationObtains commitment for $250 million in financingContinues to operate as usual and provide high-performance materials to customers; shipments and product delivery to continue in normal courseHOUSTON, April 21, 2025 /PRNewswire/ -- Ascend Performance Materials ("Ascend" or the "Company"), a leading producer of high-performance and durable engineered materials for everyday essentials and new technologies, announced today that, with the support of its key stakeholders, it has initiated Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. The Chapter 11 process will enable Ascend to deleverage its balance sheet and continue providing best-in-class materials to nearly 1,650 customers globally. Ascend's subsidiaries that are located outside of the U.S. are not included in the Chapter 11 filings.With the support of its lenders, Ascend will use the Chapter 11 process to pursue a value-maximizing restructuring transaction that will enable the Company to emerge from Chapter 11 as a healthy, well-capitalized business. The Company will operate as usual throughout the Chapter 11 process and will continue to manufacture and produce high-performance materials that improve the quality of life today and inspire a better tomorrow
Ascend Performance Materials secures $100 million loan amid financial restructuring.