Industry News

Ascend to Acquire Formulated Polymers’ Compounding Division in India

Published on 2022-04-14. Edited By : SpecialChem

TAGS:  Electrical & Electronics   

ascend-polymers-acquisition Ascend Performance Materials has reached an agreement to acquire the compounding division of Formulated Polymers Limited, an engineered materials manufacturer in Chennai, India. This acquisition will establish Ascend’s first manufacturing base in the subcontinent and strengthen Ascend’s global reach in the electrical and e-mobility application space.

Details of the Transaction

The deal includes a world-scale manufacturing facility in Chennai as well as warehouses throughout India. Formulat ed Polymers, which has operated over three decades as a polyamide compounder in India, is currently a licensee of Ascend’s Starflam® flame-retardant polyamides.

Demand for our materials in India is strong and growing,” said Phil McDivitt, Ascend’s president and CEO. “The team at Formulated Polymers has built an excellent, diversified business with a proven track record of technology development in polyamides. We are excited to build on their expertise to drive additional value-added growth in India and beyond.”

Significant Growth Opportunity for Ascend

Ascend, a fully integrated producer of durable engineered materials, has grown its global production footprint with five acquisitions over the last four years, each focused on specific synergies with the company’s core business. This acquisition provides a significant growth opportunity for Ascend in India, one of the highest growth economies in the world.

Being customer-focused is one of our values,” said John Saunders, Ascend’s vice president for Europe, the Middle East, North Africa and India. “We look forward to supporting our customers in a fast-growing market by continuing to invest in capacity, technical resources and product development to meet their needs.”

The deal is expected to close on May 1, after receiving necessary approvals. Terms of the agreement were not disclosed.

Ascend's Product Range for Electrical Markets

Source: Ascend Performance Materials


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