Chemical maker can stand heat or cold
Ascend Performance Materials, the Houstonbased company that makes plastics, fibers and chemicals used for clothing to sporting goods, credits new plastics designed to withstand higher temperatures as a key factor behind its strong financial performance last year.
Ascend created new grades of thermoplastic polymers, materials that melt at certain temperatures and can be formed into shapes and harden upon cooling, at the urging of motor vehicle manufacturers that are building more efficient vehicles, including turbocharged engines and hybrid vehicles that use a combination of electricity and gasoline. “Temperatures under the hood are going up,” said Ascend’s chief executive officer, Phil McDivitt. Car makers need components that will withstand the higher heat.
Ascend is No. 4 on the Chronicle 100.
McDivitt, who got the top job this year after heading the nylon division, also cited temperature-related innovations in zip ties for a solid 2016. The latest generation of these straps, which are used for industrial, auto and home applications, won’t break in extreme heat or cold.
Ascend reported revenue of $2 billion in 2016. The company is owned by SK Capital Partners, a private investment firm based in New York. Ascend was founded eight years ago when SK Capital bought St. Louis-based Solutia, a maker of nylon chemicals, plastics and fibers. The new company was launched in Houston.
The company has 2,400 employees companywide, including 850 in Houston. It has five manufacturing sites including one in Alvin, two in Alabama, and one each in Florida and South Carolina. The company ships about 60 percent of its products overseas, with some of its biggest customers in Europe and Asia.