Stepan completes acquisition of a surfactant production facility from BASF in Mexico
Stepan Company reported that, through a subsidiary in Mexico, it has closed on the previously announced agreement with BASF Mexicana, S.A. DE C.V. to acquire the surfactant production facility in Ecatepec, Mexico, and a portion of the associated surfactants business.
The facility has over 50,000 t/y of capacity, 124,000 square feet (~ 11,520 m2) 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.
Like this article? Share Now!
More news from this section
BASF announced that it has expanded its capacities for the production of Basonat hardeners at the Ludwigshafen site in Germany. No details on the scope of the capacity expansion were disclosed. The aliphatic polyisocyanates are used in the formulation of automotive and industrial coatings, furniture and flooring coatings as well as adhesives.
read moreDespite low prices in both local and foreign markets, Myanmar’s rubber export will not decrease, according to Myanmar Rubber Growers and Producers Association.
read more
Write a comment on this article now