Stepan acquires surfactant production facility in Mexico
Stepan Company, through a subsidiary in Mexico, has reached an agreement with BASF Mexicana, S.A. DE C.V. to acquire its surfactant production facility in Ecatepec, Mexico, and a portion of its associated surfactants business.
The facility is located close to Mexico City and has over 50,000 metric tons of capacity, 124,000 square feet of warehouse space, a large laboratory and office space.
Growth in functional markets
The transaction is expected to close in the fourth quarter of 2017 and is expected to have minimal impact on Stepan's 2017 financial results. Financial terms were not disclosed. “The acquisition supports the company's growth strategy in Latin America. We believe this acquisition significantly enhances Stepan's market position and supply capabilities for surfactants in Mexico and positions us to grow in both the consumer and functional markets for surfactants,” said F. Quinn Stepan Jr., Chairman, President and CEO of Stepan Company.
About Stepan Company
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading producer of surfactants, which are the key ingredients in consumer and industrial cleaning compounds. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and C.A.S.E. (Coatings, Adhesives, Sealants, and Elastomers) industries.
