Stepan Company reported that, through subsidiaries in Mexico, it has entered into an agreement with Clariant (Mexico) S.A. de C.V. to acquire Clariant's anionic surfactant business and associated sulfation equipment located in Santa Clara, Mexico. Financial terms of the transaction were not disclosed. The transaction is expected to close in the third quarter of 2020, subject to regulatory approvals and satisfaction of certain other requirements.

 

"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 Chief Executive Officer 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."

 

Headquartered in Northfield, Illinois, Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.