Stepan Company announced that, through subsidiaries in Mexico, it has entered into an agreement with Clariant (Mexico) S.A. de C.V. to acquire Clariant's anionic surfactant business and associated sulfation equipment located in Santa Clara, Mexico. Financial terms of the transaction were not disclosed. The transaction is expected to close in Q3 2020, subject to regulatory approvals and satisfaction of certain other requirements.
"The purchase of Clariant's surfactant business in Mexico will enhance our ability to support our customers' growth in the Mexican Consumer and Functional markets for surfactants," said F. Quinn Stepan, Jr., Chairman, President and Chief Executive Officer of Stepan. "We plan to transition manufacturing from Clariant's Santa Clara site to Stepan's Mexican sites located in Ecatepec and Matamoros over the coming months."
Stepan is a manufacturer of speciality and intermediate chemicals used in a broad range of industries. The company is a merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. It is also a supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE industries. Headquartered in Northfield, IL, USA, Stepan utilises a network of production facilities located in North and South America, Europe and Asia.