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NORTHBROOK, Unwell., Sept. 12, 2022 /PRNewswire/ — Stepan Firm ( NYSE: SCL), introduced at this time that it has entered into an settlement to amass the surfactant enterprise and related property of PerformanX Specialty Chemical compounds, LLC. The acquisition will embody mental property, business relationships, and stock. The definitive settlement is topic to regular closing circumstances and the transaction is anticipated to shut within the third quarter of 2022.
“PerformanX is a powerful strategic match inside Stepan’s Surfactants enterprise and offers engaging market diversification alternatives for our alkoxylation product line,” mentioned Scott R. Behrens, President and Chief Government Officer of Stepan Firm. “The acquisition of PerformanX’s enterprise ought to improve annual income by roughly $20 million and be accretive to Stepan’s EBITDA margin. We sit up for welcoming PerformanX’s clients to Stepan by persevering with to supply the identical excessive degree of high quality and repair to which they’ve been accustomed.”
In 2021 Stepan Firm introduced plans to construct and function a brand new alkoxylation plant at its current Pasadena, Texas facility. Alkoxylates are a core surfactant know-how vital to the agricultural, oilfield, building, pulp and paper, lubricant and family finish use markets. Stepan’s $245 million funding is anticipated to supply versatile capability of 75,000 metric tons per 12 months, able to each ethoxylation and propoxylation, and positions the Firm to serve the rising international demand of our Surfactant and Polymer companies. The brand new alkoxylation capability in Pasadena, Texas is anticipated to return on-line in early 2024.
Company Profile
Stepan Firm is a serious producer of specialty and intermediate chemical compounds utilized in a broad vary of industries. Stepan is a number one service provider producer of surfactants, that are the important thing components in shopper and industrial cleansing and disinfection merchandise and in agricultural and oilfield options. The Firm can also be a number one provider of polyurethane polyols used within the increasing thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.
Headquartered in Northbrook, Illinois, Stepan makes use of a community of contemporary manufacturing services positioned in North and South America, Europe and Asia.
The Firm’s frequent inventory is traded on the New York Inventory Trade (NYSE) beneath the image SCL. For extra details about Stepan Firm please go to the Firm on-line at www.stepan.com.
Extra details about Stepan’s sustainability program may be discovered on the Sustainability web page at www.stepan.com. Contact: Luis E. Rojo 847-446-7500
Sure data on this information launch consists of forward-looking statements inside the that means of the Personal Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. These statements embody statements about Stepan Firm’s plans, goals, methods, monetary efficiency and outlook, tendencies, the quantity and timing of future money distributions, prospects or future occasions and contain recognized and unknown dangers which are troublesome to foretell. In consequence, Stepan Firm’s precise monetary outcomes, efficiency, achievements or prospects might differ materially from these expressed or implied by these forward-looking statements. In some instances, you may determine forward-looking statements by means of phrases equivalent to “might,” “might,” “anticipate,” “intend,” “plan,” “search,” “anticipate,” “consider,” “estimate,” “steering,” “predict,” “potential,” “proceed,” “possible,” “will,” “would,” “ought to,” “illustrative” and variations of those phrases and related expressions, or the damaging of those phrases or related expressions. Such forward-looking statements are essentially based mostly upon estimates and assumptions that, whereas thought-about affordable by Stepan Firm and its administration based mostly on their information and understanding of the enterprise and trade, are inherently unsure. These statements are usually not ensures of future efficiency, and stockholders shouldn’t place undue reliance on forward-looking statements.
There are a variety of dangers, uncertainties and different necessary components, lots of that are past Stepan Firm’s management, that might trigger precise outcomes to vary materially from the forward-looking statements contained on this information launch. Such dangers, uncertainties and different necessary components embody, amongst different components, the dangers, uncertainties and components described in Stepan Firm’s Kind 10-Ok, Kind 10-Q and Kind 8-Ok stories and reveals to these stories, and embody (however are usually not restricted to) dangers and uncertainties associated to the impression of the COVID-19 pandemic; accidents, unplanned manufacturing shutdowns or disruptions in manufacturing services; lowered demand because of buyer product reformulations or new applied sciences; our incapacity to efficiently develop or introduce new merchandise; compliance with legal guidelines; our capacity to determine appropriate acquisition candidates and efficiently full and combine acquisitions; international competitors; volatility of uncooked materials and vitality prices and provide; disruptions in transportation or important modifications in transportation prices; downturns in sure industries and basic financial downturns; worldwide enterprise dangers, together with foreign money alternate price fluctuations, authorized restrictions and taxes; unfavorable decision of litigation towards us; sustaining and defending mental property rights; our capacity to entry capital markets; international political, navy, safety or different instability; prices associated to enlargement or different capital tasks; interruption or breaches of data know-how programs; our capacity to retain government administration and key personnel; and our debt covenants.
These forward-looking statements are made solely as of the date hereof, and Stepan Firm undertakes no obligation to replace or revise these forward-looking statements, whether or not on account of new data, future occasions or in any other case.
SOURCE Stepan Firm
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