Emerges as financially stronger company, well positioned to continue providing high-performance materials to customers
HOUSTON, Dec. 19, 2025 /PRNewswire/ — Ascend Performance Materials, a leading producer of high-performance and durable engineered materials for everyday essentials and new technologies, today announced the completion of its financial restructuring process and emergence from Chapter 11 bankruptcy protection. The Company’s Plan of Reorganization, confirmed by the U.S. Bankruptcy Court on December 9, 2025, is now effective.
Ascend achieved the objectives it set for this process, including reducing its total long-term debt by approximately $1.3 billion, securing access to a $350 million asset-based credit facility, strengthening its liquidity position through more than $600 million of new capital provided by its new shareholders, and materially lowering its debt service costs, which will enable Ascend to reinvest in reliability, efficiency, and long-term growth.
“Today marks the final milestone in Ascend’s restructuring process, and we are thrilled to be emerging from Chapter 11 with significantly less debt and a much stronger capital structure,” said Patrick Schumacher, Ascend’s newly appointed CEO. “Thanks to the incredible efforts of our people and the support of our new ownership group, we have strengthened the business and positioned Ascend for future growth. As we move forward, we will increase our investments in reliability and advance our leadership position in nylon resins and engineering thermoplastics.”
Ascend’s emergence from Chapter 11 marks a pivotal moment in its ongoing transformation. Ascend remains steadfast in its mission to deliver high-performance materials that improve the quality of life today and inspire a better tomorrow.
Additional Information
Additional information on the Company’s Chapter 11 case can be found at https://dm.epiq11.com/Ascend or by contacting Epiq, the Company’s noticing and claims agent, at (888) 890-9917 (for toll-free U.S. calls) or +1 (971) 385-8728 (for tolled international calls).
Ascend is advised in this matter by Kirkland & Ellis LLP as legal counsel, FTI Consulting as financial advisor, and PJT Partners as investment banker. The ad hoc group of term loan lenders to the Company is advised by Gibson, Dunn & Crutcher LLP as legal counsel, and Evercore Group L.L.C. as investment banker.
About Ascend Performance Materials
Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels, and Detroit, we are a fully integrated material solutions provider with global manufacturing facilities in North America, Europe, and Asia. Our global workforce makes the materials used to make safer vehicles, cleaner energy, better medical devices, smarter appliances, and longer-lasting apparel and consumer goods. We are committed to safety, sustainability, and the success of our customers and our communities.
Ascend Media:
Osama Khalifa
Okhali@ascendmaterials.com
Rachel Chesley / Rose Temple
AscendComms@fticonsulting.com
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SOURCE Ascend Performance Materials
