NORTHFIELD, Ill., Jan. 29, 2021 / PRNewswire / – Stepan Company (NYSE: SCL) today announced that it has acquired the aromatic polyester polyol business of INVISTA and associated assets. The transaction includes two manufacturers sites, one in Wilmington, NC (US) and the other in Vlissingen (The Netherlands), and intellectual property, customer relationships, inventory and working capital. The acquired company has worldwide sales of approximately $ 100 million. This acquisition was financed with available cash and is expected to be accretive to Stepan’s EBITDA margins.
“We are excited to add the polyester polyol capabilities of INVISTA to Stepan. This acquisition expands our manufacturing capacity in the United States and Europe, improves our business continuity capabilities for the market and supports the growth of our global rigid polyols business. We anticipate that the available capacity of INVISTA, as well as the decongestion opportunities at both plants, will allow Stepan to support market growth in a capital efficient manner, ”said F. Quinn Stepan, Jr. Chairman and CEO of Stepan. “We believe the long-term outlook for the use of rigid polyol in insulation remains strong as energy conservation efforts and tighter building codes are expected to continue to drive market growth. In addition, we believe the technology acquired will accelerate our product leadership initiatives, drive manufacturing and production efficiency, and create increased value for the entire market. We look forward to providing the highest level of service to our new customers and are delighted to add the new employees and the two new sites to our global polyester polyol manufacturing network. “
Management will provide further insight into this acquisition as part of Stepan Company’s fourth quarter and full year 2020 earnings conference call on February 18, 2021.
Stepan Company is a leading manufacturer of specialty chemicals and intermediates used in a wide variety of industries. Stepan is a leading market producer of surfactants, which are key ingredients in consumer and industrial cleaning and disinfection products, and agricultural and petroleum solutions. The company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and CASE industries (coatings, adhesives, sealants and elastomers).
Headquartered in Northfield, Illinois, Stepan uses a network of modern production facilities located in North and South America, Europe and Asia.
The Company’s common shares trade on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about the Stepan company, please visit the company online at www.stepan.com
You can find more information about Stepan’s sustainability program on the Sustainability page at www.stepan.com
Contact: Luis E. Rojo 847-446-7500
Some information in this news The press release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements about plans, objectives, strategies, financial performance and prospects of Stepan Company, trends, amount and timing of future cash distributions, prospects or future events and involve known risks. and unknowns difficult to predict. Accordingly, the actual financial results, performance, achievements or prospects of Stepan Company may differ materially from those expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate”, ” believe “” estimate “,” guide “,” foresee “,” potential “,” continue “,” probable “,” will “,” would “,” should “,” illustrative “and variations of such terms and expressions , or negative of these terms or similar expressions. These forward-looking statements are necessarily based on estimates and assumptions which, although considered reasonable by Stepan Company and its management based on their knowledge and understanding of the business and the industry, are inherently uncertain. These statements are not guarantees of future performance and shareholders should not place undue reliance on forward-looking statements.
There are a number of risks, uncertainties and other important factors, many of which are beyond the control of Stepan Company, that could cause actual results to differ materially from the forward-looking statements contained in this document. news Release. These risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in the Form 10-K, Form 10-Q and Form 8-K reports of Stepan Company and the attachments thereto, and understand (but are not limited to) risks and uncertainties related to the impact of the COVID-19 pandemic; accidents, unplanned production stoppages or interruptions at manufacturing facilities; reduced demand due to reformulations of customer products or new technologies; our inability to successfully develop or introduce new products; in accordance with the laws; our ability to identify suitable acquisition candidates and to complete and integrate acquisitions; global competition; volatility of raw materials and energy costs and supply; disruptions in transportation or significant changes in transportation costs; downturns in some industries and general economic downturns; international business risks, including fluctuations in exchange rates, legal restrictions and taxes; adverse resolution of disputes against us; maintain and protect intellectual property rights; our ability to access financial markets; global political, military, security or other instability; fresh related to expansion or other capital projects; interruption or breaches of computer systems; our ability to retain senior management and key personnel; and our restrictive covenants.
These forward-looking statements are made only as of the date hereof, and Stepan Company assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Stepan Company
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