Houston-based Ascend Performance Materials LLC — a manufacturer of nylon and other man-made fibers for applications such as carpet, apparel and tires; as well as personal care and agricultural products, and animal feed — will invest $3.25 million to expand its Greenwood, S.C., operations, with the expectation of adding 32 jobs over three years.

The company is adding capacity to meet market demand and expects to complete the expansion by March 2011. The Greenwood plant produces nylon industrial fiber for airbags, tire cord and military products, among other applications.

"Our Greenwood facility plays an important role in our company's production of nylon fiber, and this expansion will help us grow our market share," said Larry Hammond, plant manager, Ascend Performance Materials. Ascend Performance Materials celebrated its first year in business this past June. The company was formed on June 1, 2009, when New York City-based private equity firm SK Capital Partners II LP completed the acquisition of St. Louis-based Solutia Inc's nylon business (See " Solutia Completes Sale of Nylon Business, Company Renamed Ascend," June 2, 2009).

November 23, 2010