Page 34 - Plastics News June - 2020

Ascend buys manufacturing assets of NCM and Logoplaste SA plans to invest $35 million in a
Tehe Engineering Plastic new plant in Northwest Ohio
scend Performance Materials, the largest fully lastics packaging maker Logoplaste SA plans to
Aintegrated producer of polyamide 66 has signed an Pbuild a new plant in Northwest Ohio. Portugal-
agreement to purchase the assets of NCM (Changshu) based Logoplaste will invest $35 million on roughly 16-
Co., Ltd., and Tehe Engineering Plastic (Suzhou) Co., acres on Commerce Parkway just south of Lima and
Ltd., located in Changshu Yushan High-tech Industrial bring 51 jobs to the area by 2024. Allen Economic
Development Group's Director of Business
Development Cindy Leis said out of all the sites in the
state looked at by the company, Lima's site just south
of I-75 literally ranked as the best place for an
expansion for the company. “These attraction
projects don't come along every day. This one in
particular happened to be perfect,” Leis said. The new
100,000-square-foot manufacturing facility to be
developed by Logoplaste will initially add 37 jobs to
the local economy thereby bringing $2 million in
payroll to the region.

Park (known as “The Park”), one of the major advanced
manufacturing parks in the eastern coastal area of
China, 100 kilometers outside of Shanghai.The
acquisition gives Ascend a flexible footprint for growth
in the region. The company's master plan includes the
expansion of compounding assets at the site along with
a global research and development center with a focus
on existing applications in the automotive, electrical
and electronics, and consumer and industrial areas, as
well as new ones in areas such as 3D-printing and high-
The number of jobs is expected to grow to 51 in three
performance films. Phil McDivitt, Ascend's president years. Originally founded in Portugal in 1976,
and CEO, said the purchase positions the company to Logoplaste manufactures “rigid plastic packaging
better facilitate supply to customers in Asia and to solutions” in its 64 plants by using a “wall-to-wall”
support future market growth. “Ascend's long-range business concept that better correlates production
plan includes providing world-class service to
with customer demand in order to increase overall
customers around the globe,” McDivitt said. “The Park,
sustainability of its plastic products. Leis said other
with its proximity to both China's major automotive
sites in Ohio were also vying for the company to
industry clusters and to Shanghai, made it an ideal
establish a presence. To help secure Lima's bid, AEDG
choice for a hub to help us better reach the rapidly
has also been coordinating a tax abatement for the
emerging markets in Asia.” Dr. Kevin Wu, senior vice
international company. Monday night, Lima City
president and managing director for Ascend's Asia-
Council approved the abatement that would decrease
Pacific operations, said “This is an exciting chapter for
local taxes by 75% over a 10-year-period paid on any
Ascend in Asia as it provides regional manufacturing
new construction efforts by Logoplaste. Trustees from
and innovation capability to efficiently respond to
Perry Township, where the plant will be located, also
customer needs and to customize formula solutions for
approved the abatement June 2.
Asian markets.”

June 2020 34 Plastics News