MOSCOW (MRC) -- 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, as per GV.
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.
As MRC wrote previously, within the next five years, BASF SE (Ludwigshafen, Germany) plans to invest globally more than EUR200 million in its plastic additives business, approximately half of which in Asia, focusing on capacity expansions and operational excellence.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
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.