Ascend completes purchase of plant in Chennai
Ascend Performance Materials has completed its purchase of Formulated Polymers Limited, an engineered materials producer based in Chennai, India. The acquisition establishes Ascend’s first production facility in South Asia.
“The team at FPL has a 30-year track record of serving customers throughout the subcontinent with high-performance compounds,” said Dharm Vahalia, Ascend’s managing director for India. “We look forward to bringing them into Ascend and broadening the portfolio available to customers in India.”
Ascend’s Starflam® flame-retardant engineered materials will continue to be produced at the facility and the company is qualifying production of its other materials.
“Our strategy has been to expand our manufacturing footprint and our product portfolio in line with our customers’ growth roadmaps,” said Isaac Khalil, senior vice president for polyamides at Ascend. “South Asia is a vital part of that growth.”
Details of the deal were not disclosed.
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