Stepan acquires commercial biz, sulphonation facility in Brazil

Stepan acquires commercial biz, sulphonation facility in Brazil

6:24 AM, 22nd July 2016
Stepan acquires commercial biz, sulphonation facility in Brazil
F Quinn Stepan Jr, president and CEO of Stepan Company. (File photo)

NORTHFIELD, US: Stepan Company said that its subsidiary in Brazil has reached an agreement with Tebras Tensoativos do Brazil Ltda (Tebras) to acquire their commercial business and with PBC Industria Quimica Ltda (PBC) to acquire their sulphonation production facility. The combined entities have annual sales of approximately $32 million dollars, 25,000 metric tonnes of sulphonation capacity and a large, diverse customer portfolio.

Both definitive agreements are projected to close in the fourth quarter of 2016. The transaction is expected to have minimal impact on Stepan's 2016 financial results.

"The acquisition of Tebras and PBC is expected to expand and diversify our customer base for sulphonated products in Brazil and to provide an opportunity to sell our broader surfactant portfolio to over 1,200 new customers who will benefit from Stepan's technical service and formulation support," said F Quinn Stepan Jr, president and CEO of Stepan Company.

"Over time, we plan to utilise the newly acquired site within the greater Sao Paulo area to produce additional product lines. This acquisition is expected to be slightly accretive to earnings for the first full year of ownership," added Stepan.

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