US EditionAscend Performance Materials Takes Steps to Strengthen Balance Sheet and Position the Company for a Stronger Future
- Ascend Performance Materials, a high-performance materials producer, began a restructuring process on April 21, 2025, in Houston.
- Ascend initiated Chapter 11 cases to deleverage its balance sheet and pursue a restructuring with lender support.
- The company secured $250 million in financing and filed motions to support operations, including paying employees and suppliers.
- Ascend's CEO, Phil McDivitt, stated they have been defining the best path forward with lenders who "believe in the underlying value" of Ascend.
- Ascend expects the restructuring will reduce debt, position it for long-term strategy execution, and complete in about six months.
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33 Articles
Ascend Files For Chapter 11 Bankruptcy Protection - Canadian Plastics
Houston-based Nylon 6/6 maker Ascend Performance Materials has filed for bankruptcy protection at the U.S. Bankruptcy Court for the Southern District of Texas. In an April 21 news release, Ascend officials said the Chapter 11 process “will enable [it] to deleverage its balance sheet and continue providing…materials to nearly 1,650 customers globally.” Ascend’s subsidiaries that are located outside of the U.S. are not included in the Chapter 11 f…
Possible arbitration discussed in Ascend Elements, Turner-Kokosing civil case | NewsRadio 1230 AM/99.3 FM | Hopkinsville's News Leader | Hopkinsville, Kentucky
Ascend Elements, Turner-Kokosing and numerous other ventures met for a hearing in Civil Court in the courtroom of Judge John Atkins Wednesday afternoon. As previously reported, a joint venture made of Turner Construction Company and Kokosing Industrial, Inc. filed a lawsuit in Civil Court against Ascend Elements in March, alleging Ascend failed to pay for work that was done and materials delivered by the Joint Venture by December 20 of 2024 at t…
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Ascend Performance Materials Takes Steps to Strengthen Balance Sheet and Position the Company for a Stronger Future
Initiates restructuring process with support from existing lenders to strengthen balance sheet and improve financial foundation
Ascend Files For Chapter 11 Bankruptcy; Local Site To Continue Normal Operations : NorthEscambia.com
Ascend Performance Materials on Monday filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. If approved, Chapter 11 allows a company to reorganize its finances without the threat of creditors’ lawsuits. The reorganization plan must be accepted by a majority of its creditors. The Pensacola Ascend plant on Chemstrand [...]
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