Illinois-based Stepan Co. acquires BASF surfactant plant in Ecatepec
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Stepan Co. a manufacturer of specialty chemicals headquartered in Illinois, announced it has acquired through a subsidiary in Mexico a surfactant production facility in Ecatepec, Mexico owned by BASF Mexicana, S.A. DE C.V. and a portion of its associated surfactants business.
The BASF facility is located close to Mexico City and has over 50,000 metric tons (m.t.) of capacity, 124,000 square footage 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 and is expected to have minimal impact on Stepan’s 2017 financial results. 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.
The Ecatepec facility will be Stepan’s second in Mexico, the other one being a production site in Matamoros, Tamaulipas destined for production of sulfates, sulfonates, quaternaries and blends.
Stepan is a producer of surfactants, which are the key ingredients in consumer and industrial cleaning compounds. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and C.A.S.E. (Coatings, Adhesives, Sealants, and Elastomers) industries.