Ascend signs an investment agreement to construct a new HMD plant in Lianyungang, China.
Ascend Performance Materials says it has signed an investment agreement to construct a new hexamethylene diamine and specialty chemicals plant in Lianyungang, China in the Xuwei New Area Park. The new plant reportedly will be Ascend’s first chemical production facility and the largest investment the company has made outside of the United States. The plant will produce HMD and specialty chemicals to supply Ascend’s global polyamide production and serve its regional customers.
A fully integrated producer of durable engineered materials, Ascend serves a variety of sectors including automotive, paints and coatings, electrical and electronics, consumer goods and cable ties and fasteners.
Ascend signed a memorandum of understanding in November 2020 during CIIE in Shanghai with Xuwei New Area Park, witnessed by the leaders of Jiangsu Province and Lianyungang.
Ascend says it will begin construction later this year with a plant startup targeted for the second half of 2023.
The announcement of the new site construction follows a series of acquisitions and capacity expansions to enable regional growth and continued global supply security. In 2018, Ascend made its first acquisition in Tilburg, Netherlands, followed by acquisitions in Mozzate, Italy; Suzhou, China; and Fosses, France. Ascend will also complete an acquisition in San Jose Iturbide, Mexico and the construction of Ascend Asia Innovation Center later this year.
For more information, visit: www.ascendmaterials.com