Ascend Performance Materials, based in Houston, Texas, announced it has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy protection. The company’s Plan of Reorganization, confirmed by the U.S. Bankruptcy Court on Dec. 9, 2025, is now effective.
Through the process, Ascend reduced its long-term debt by about $1.3 billion, secured a $350 million asset-based credit facility, and gained more than $600 million in new capital from shareholders, strengthening liquidity and lowering debt service costs.
“Today marks the final milestone in Ascend’s restructuring process, and we are thrilled to emerge with significantly less debt and a much stronger capital structure,” said Patrick Schumacher, Ascend’s newly appointed CEO. “Thanks to our people and new ownership group, we are better positioned for growth and continued leadership in nylon resins and engineering thermoplastics.”
Ascend plans to reinvest in reliability, efficiency and long-term growth initiatives.
2026 Quarterly Issue I
