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

Global Plastics Summit puts PE prices in the spotlight

October 1, 2014 3:17 pm ET

Product manufacturers may start to shift away from polyethylene because of high prices, according to two major plastics processors.    More

Image

Nucleation offers solution to shrinkage in HDPE closures

October 1, 2014 1:57 pm ET

For caps producers, nucleation can provide a practical solution to eliminate shrinkage variations in high density polyethylene beverage closures....    More

Image

Dow loses appeal in price fixing case

October 1, 2014 11:10 am ET

The Reuters press agency reports that a federal appeals court in Denver has rejected Dow Chemical Co.'s attempt to overturn a $1.06 billion fine...    More

Image

New Hexcel plant will supply carbon fiber for Airbus A350 XWB

September 30, 2014 2:43 pm ET

Hexcel Corp. is investing $250 million on a new carbon fiber plant in France, with part of the production going into the future Airbus SAS A350 XWB.    More

Image

LyondellBasell CEO Gallogly to retire

September 30, 2014 3:00 pm ET

James Gallogly, CEO of Houston-based polyolefins producer LyondellBasell Industries NV, on Sept. 29 announced plans to retire in 2015.    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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

More Events