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Stepan to acquire Mexican surfactant production facility and part of its surfactant business
Stepan Company, through a subsidiary in Mexico, has reached an agreement with BASF Mexicana 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, 124,000sq.ft of warehouse space, a large laboratory and office space.
The definitive agreement is subject to closing conditions and the satisfaction of certain other requirements. The transaction is expected to close in the fourth quarter of 2017. Financial terms of the transaction were not disclosed.
"The acquisition supports the company's growth strategy in Latin America," says F. Quinn Stepan Jr., chairman, president and CEO of Stepan. "We believe this acquisition significantly enhances Stepan's market position and supply capabilities for surfactants in Mexico.
Stepan is a major manufacturer of speciality and intermediate chemicals used in a broad range of industries and is a leading producer of the surfactants used in both consumer and industrial cleaning compounds. It is a 2017 US Environmental Protection Agency Safer Choice Partner of the Year award winner.
Headquartered in Northfield, Illinois, Stepan utilises a network of modern production facilities located in North and South America, Europe and Asia.
22nd June 2017