NORTHFIELD, IL - Stepan Co., through a subsidiary in Mexico, has reached an agreement with BASF Mexicana S.A. DE C.V. to acquire its surfactant production facility in Ecatepec, Mexico, and a portion of its associated surfactants business. The facility is located close to Mexico City and has over 50,000 metric tons of capacity, 124,000 square feet 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 Co.