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Chemicals manufacturer Stepan Company to acquire P&G sulfonation production facility in Brazil
Chemicals manufacturer Stepan Company, through its subsidiary in Brazil, yesterday reported that it has reached an agreement with Procter & Gamble do Brasil SA's to acquire its sulfonation production facility in Bahia, Brazil - subject to approval by the Brazilian antitrust authorities and by the Industrial Development Superintendence of Bahia State, as well as other customary closing conditions. The facility is located in the northeast region of Brazil and has 30,000 metric tons of capacity.
The transaction is projected to close in the third or fourth quarter and the acquisition is expected to have a minimal impact on Stepan's 2014 financial results. Financial terms of the transaction were not disclosed.
"This acquisition will expand Stepan's capabilities in Brazil," said F. Quinn Stepan Jr., president and CEO.
"Brazil is the world's fifth most populous country and has a growing middle class. As the country's usage of laundry products transitions from soap bars to powders to liquids, surfactant use expands. Surfactants used in functional applications, including the large Brazilian agricultural industry, are also increasing. Brazil is a strategic priority for Stepan; this acquisition is synergistic with our existing Vespasiano, Brazil plant and provides an opportunity to serve the growing northeast of Brazil."
Headquartered in Illinois, US, Stepan is a major manufacturer of speciality and intermediate chemicals used in a broad range of industries. it is a leading merchant producer of surfactants; 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.
Stepan utilises a network of modern production facilities located in North and South America, Europe and Asia.
T: (847) 446-7500
17th July 2014