Stepan Company completes acquisition of BASF surfactants plant in Ecatepec
Stepan Company, an Illinois-based manufacturer of specialty and intermediate chemicals used in a broad range of industries, announced that, through a subsidiary in Mexico, it has closed on the previously announced agreement with BASF Mexicana, S.A. DE C.V. to acquire their surfactant production facility in Ecatepec, Mexico and a portion of their associated surfactants business. The financial terms of the deal were not disclosed.
Surfactants are the key ingredients in consumer and industrial cleaning compounds and in agricultural and oilfield solutions. 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.”