Ascend Performance Materials is closing its Greenwood, S.C., nylon plant and shifting its polymer operations to its existing plant in Pensacola, Fla.
The company blamed prolonged global economic pressure, especially in the automotive and construction sectors The move affects about 200 employees.
Republican lawmakers in Washington are attacking President Joe Biden's administration for its support for resin production caps in the global plastics treaty, saying it would hurt the U.S. economy and weaken the government's negotiating position.
Don't miss the next Numbers That Matter Live, on Oct, 22, when Plastics News Economics Editor Bill Wood will talk about his outlook for 2025 and offer tips for how companies should prepare their operating and capital budgets and what to keep an eye on in the coming months.