Ascend Performance Materials, the world’s largest fully integrated producer of polyamide 66 resin, signed an asset purchase agreement with NCM (Changshu) and Tehe Engineering Plastic (Suzhou) in Shanghai on June 11.
Ascend plans to expand the production line in the Yushan High-tech Industrial Park, one of the major advanced manufacturing parks, build a global research and development center with a focus on existing applications in the automotive, electrical and electronics, and consumer and industrial areas, as well as new ones in areas such as 3D-printing and high-performance films.
Phil McDivitt, Ascend’s president and CEO, said the acquisition helps the company to better facilitate supply to customers in Asia and to support future market growth. The park, with its proximity to both China’s major automotive industry clusters and to Shanghai, made it an ideal choice for a hub to help Ascend better reach the rapidly emerging markets in Asia.
