Nylon 66 giant announces acquisition

On November 9, Ascend announced that it hasentered into an agreement to acquire a majority stake in Circular Polymers, aU.S. manufacturer of recycled materials, which has been renamed CircularPolymers by Ascend, and that further details of the transaction have not beendisclosed.

David Bender, founder and CEO of CircularPolymers, will hold the remaining equity interest and will continue to serve asCEO of the company.

Circular Polymers focuses on post-consumerrecycled PCR materials, including polyamide 6 (PA6) and polyamide 66 (PA66),polypropylene (PP), polyester (PET) and other high-performance polymers, usinga unique technology to recycle used carpet and process it into high-performancematerials. Since its founding in 2018, the company has reconvertedapproximately 40,000 tons of scrap that would have gone to landfills into newproducts.

Oshengde launched its ReDefyne™ recycledpolyamide portfolio at the recent K 2022 exhibition, and this deal provides ahigh-quality PCR material for the range and the ability to secure a stablesupply.

Oshengde is committed to achieving an 80%reduction in greenhouse gas emissions by 2030 and is confident that it willreach this goal ahead of schedule. To achieve this goal, the company hasinvested in emissions reduction technology at its Pensacola, Florida nylonplant and Decatur, Alabama adiponitrile plant. Ossunde's acrylonitrile plant inAlvin, Texas, receives 30 percent of the energy it uses from utility-scalesolar farms through power purchase agreements.