Speciality chemicals major Stepan Company is shedding another piece of its global footprint, announcing it has reached a deal to sell its manufacturing assets in Lake Providence, Louisiana, to an undisclosed buyer.

 

The move comes on the heels of Stepan’s recent exit from the Philippines, marking another step in what the company calls its ongoing effort to streamline operations and concentrate on core growth areas.

 

The sale is expected to close before the end of the year, pending “normal closing conditions” and the completion of due diligence. Financial terms were not disclosed.