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Surfactant production facilities under new ownership in Mexico
Stepan Company has, through a subsidiary in Mexico, closed on the previously announced 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, 124,000 square footage of warehouse space, a large laboratory and office space.
"We welcome the Ecatepec employees that have transferred as part of the transaction to the Stepan team," said F. Quinn Stepan Jr., chairman, president and CEO of Stepan Company. "This 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. The acquisition is expected to be slightly accretive to earnings during the remainder of 2018."
Stepan's surfactants are the key ingredients in consumer and industrial cleaning compounds and in agricultural and oilfield solutions. Headquartered in Northfield, Illinois, the company utilises a network of modern production facilities located in North and South America, Europe and Asia.
29th March 2018