FOR IMMEDIATE RELEASE
February 14, 2024

Contact:
Ryan Kavalauskas
Chief Financial Officer
1-630-884-9181

Ascent Industries Promotes New Executive Management Team

OAK BROOK, IL – Ascent Industries Co. (Nasdaq: ACNT) (“Ascent” or the “Company”), an industrials company focused on the production and distribution of specialty chemicals and industrial tubular products, has announced the promotion of Ascent Chemicals’ President J. Bryan Kitchen to Ascent’s CEO and Ascent Chemicals’ Vice President of Financial Planning and Analysis Ryan Kavalauskas to Ascent’s CFO. Mr. Kitchen succeeds President and CEO Chris Hutter, who will remain on the Company’s board of directors. Mr. Kavalauskas succeeds CFO Bill Steckel, who will be leaving the Company to pursue other opportunities.

“As we continue to make progress towards our long-term strategic goals for Ascent, I’m pleased to announce the promotions of Bryan and Ryan to lead the Company,” said Ascent’s Executive Chairman Ben Rosenzweig. “Since taking the helm of Ascent Chemicals last year, Bryan has made notable progress improving the operational performance of the business, with Ryan recently playing an integral role leading all financial planning and analysis across the organization. We are excited by the opportunities to continue profitably scaling our specialty chemicals business, and we are eager to have two proven industry leaders drive our Company forward.

“I’d also like to thank Chris and Bill for their contributions to Ascent. Chris was instrumental in the early innings of our transformation strategy and has done an exceptional job positioning the Company for long-term success, including the most recent value-maximizing sale of Specialty Pipe and Tube for $55 million. We look forward to continuing having his strategic input as a board member and his support as a major shareholder. Bill played a key role over the past year implementing the necessary financial controls to drive long-term profitability, and we wish him the best of luck in his future endeavors.”

Mr. Kitchen served as president of Ascent Chemicals since September 2023 and has nearly two decades of senior leadership experience in the chemicals industry. He previously served in executive and leadership roles for notable companies, such as Clearon Corp., Xingfa USA, and The Dow Chemical Company (NYSE: DOW).

Mr. Kavalauskas served as vice president of financial planning and analysis for Ascent Chemicals. Prior to Ascent, he was the CFO and Treasurer of Clearon Corp., serving alongside Mr. Kitchen, who was president, CEO and chairman at the time. Mr. Kavalauskas also led the FP&A and treasury activities for Advancion Chemical Company, a carve-out from Dow that was also led by Mr. Kitchen during his tenure.

About Ascent Industries Co.

Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of stainless steel pipe and tubing and the production of specialty chemicals. For more information about Ascent, please visit its website at www.ascentco.com.

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