Ascend Performance Materials planning $1.2 billion propylene plant

By Frank Esposito
Senior Staff Reporter

Published: February 26, 2013 10:53 pm ET
Updated: February 26, 2013 11:04 pm ET

Related to this story

Topics Materials, Materials Suppliers

HOUSTON -- Ascend Performance Materials has announced plans to build a massive $1.2 billion plant that would make plastic feedstock propylene in Alvin, Texas.

The plant would create 100 jobs and would make propylene through the propane dehydrogenation method. Houston-based Ascend would use some of that material internally to make its own Vydyne-brand nylon 6/6, as well as other plastics and fibers.

But market sources said that, given the size of the investment, it's likely that Ascend would sell some of the plant's propylene output to other companies. This could help improve North American propylene availability, which has been limited in recent years, causing tremendous volatility in prices for polypropylene resin.

No capacity total for the proposed plant was included in a Feb. 26 news release. Ascend officials could not be reached for comment.

In the release, Ascend president Tim Strehl said that the project " builds on the existing strength of the Ascend position as a global leader in the chemicals and nylon businesses."

The firm will receive $1 million in project funding from the state-run Texas Enterprise Fund.

"Ascend's new facility...further strengthens the Gulf Coast's economy and chemical production industry," Texas Gov. Rick Perry said in the release.


Comments

Ascend Performance Materials planning $1.2 billion propylene plant

By Frank Esposito
Senior Staff Reporter

Published: February 26, 2013 10:53 pm ET
Updated: February 26, 2013 11:04 pm ET

Post Your Comments


Back to story


More stories

Image

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Antimicrobial polymers firm TiFiber launching pilot production in Ark.

December 19, 2014 10:58 am ET

TiFiber Inc., which makes synthetic compounds to control dangerous microorganisms, will locate a pilot production facility and its future company...    More

Image

Patel named LyondellBasell CEO

December 19, 2014 9:56 am ET

Bhavesh V. “Bob” Patel has been named CEO of Houston-based polyolefins producer LyondellBasell Industries NV, effective Jan. 12.    More

Image

Momentive to get a new name in January

December 19, 2014 9:45 am ET

Momentive Specialty Chemicals Inc. will change its name to Hexion Inc., effective Jan. 15.    More

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS fr...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events