The purchase agreement includes the assets of DM Color Mexicana, a joint venture between Dainichiseika and Mitsubishi Corp. The deal 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, a fully integrated producer of durable engineered materials, 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.
Details of the deal were not disclosed.
About Ascend Performance Materials
Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels and Detroit, we are a fully integrated material solutions provider with nine global manufacturing facilities in the United States, Europe and China. Our 2,600-person global workforce makes the engineered materials, fabrics, fibers and chemicals used to make safer vehicles, cleaner energy, better medical devices, smarter appliances and longer-lasting apparel and consumer goods. We are committed to safety, sustainability, inclusion and diversity, and to the success of our customers and our communities.
Learn more about Ascend at www.ascendmaterials.com.
Contact: Alison Jahn, +1 713-210-9809