Stepan to Acquire Surfactant Business and Sulfate Production Equipment in Mexico from Clariant
Northfield, Ill., July 15, 2020 /PRNewswire/ -- Stepan Company (NYSE: SCL) today reported that, through subsidiaries in Mexico, it has entered into an agreement with Clariant (Mexico) S.A. de C.V. to acquire Clariant's anionic surfactant business and associated sulfation equipment located in Santa Clara, Mexico. Financial terms of the transaction were not disclosed. The transaction is expected to close in the third quarter of 2020, subject to regulatory approvals and satisfaction of certain other requirements.
"The purchase of Clariant's surfactant business in Mexico will enhance our ability to support our customers' growth in the Mexican Consumer and Functional markets for surfactants," said F. Quinn Stepan, Jr., Chairman, President and Chief Executive Officer of Stepan. "We plan to transition manufacturing from Clariant's Santa Clara site to Stepan's Mexican sites located in Ecatepec and Matamoros over the coming months."
Corporate Profile
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.
Headquartered in Northfield, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia.
The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com
More information about Stepan's sustainability program can be found on the Sustainability page at www.stepan.com
Contact:
Luis E. Rojo 847-446-7500
Source Stepan Company
