Stepan to buy surfactant production facility from BASF in Mexico
Stepan Company, through a subsidiary in Mexico, announced that it 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 t/y of capacity, 11,519 m2 (124,000 square feet) 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. 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.
Stepan with headquarters in Northfield, IL, USA, is a manufacturer of speciality and intermediate chemicals used in a broad range of industries. The company is also a producer of surfactants, which are key ingredients in consumer and industrial cleaning compounds. Furthermore, the company is a supplier of polyurethane polyols used in the expanding thermal insulation market and CASE (coatings, adhesives, sealants, and elastomers) industries.