MOSCOW (MRC) -- Stepan Co. says that, through subsidiaries in Mexico, it has entered into an agreement with Clariant (Mexico) to acquire Clariant's anionic surfactant business and associated sulfation equipment at Santa Clara, Mexico, reported Chemweek.
The transaction is expected to close in the third quarter of 2020, subject to regulatory approvals and satisfaction of certain other requirements. Financial terms of the transaction were not disclosed.
"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 CEO 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."
As MRC reported earlier, in June 2020, TechnipFMC and Clariant Catalysts entered into a joint development agreement for the demonstration and commercialisation of Clariant’s new state-of-the-art AcryloMax propylene ammoxidation catalyst for the production of acrylonitrile (ACN).
Besides, in May 2020, Clariant’s CATOFIN catalysts was selected by Advanced Global Investment Co. (AGIC), a joint venture between Advanced Petrochemical Company (APC) and SK Group, to build a PDH facility in the Middle East.
Propylene is the main feedstock for the production of polypropylene (PP).
According to MRC's ScanPlast report, PP shipments to the Russian market was 457,930 tonnes in January-May 2020 (calculated by the formula production minus export plus import). Deliveris of exclusively PP random copolymer increased.
Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.