Stepan sell specialty polyurethane systems business J6 Polymers

Stepan to sell specialty polyurethane systems business to J6 Polymers

10:03 AM, 21st January 2015
Stepan to sell specialty polyurethane systems business to J6 Polymers

NORTHFIELD, US: Stepan Company announced the sale of its Specialty Polyurethane Systems business (KITS) to J6 Polymers, LLC. The 2014 net sales associated with this business were $2.8 million.

The sale was for cash and included inventory as well as customer and supplier lists, intellectual property, formulations, manufacturing procedures and all other information required to operate the business. The Company expects to report a pretax one-time gain of between $2.5 million and $3.0 million during the first quarter from the sale proceeds. Other terms of the agreement were not disclosed.

The products associated with this business are produced at the Company’s Millsdale, Illinois facility and third party toll manufacturers. During a transition period, the products produced at the Company’s Millsdale, Illinois facility will be toll produced for J6 Polymers, LLC.

“This transaction will allow our Polymer business segment to redeploy resources to further improve growth and innovation in our line of polyols for coatings, adhesives, sealants and elastomers applications,” said F Quinn Stepan Jr, President and CEO, Stepan Company.

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


New antimicrobial coatings with long-term germ resistance

SAARBRUCKEN, GERMANY: Researchers at the INM have now produced antimicrobial abrasion-resistant coatings with both silver and copper colloids with a l ...

Read more
DNA ‘glue’ could be used to grow tissues, organs

WASHINGTON DC, US: DNA molecules provide the “source code” for life in humans, plants, animals and some microbes. But now researchers repo ...

Read more
Asahi Kasei to construct validation plant for diphenyl carbonate production

TOKYO, JAPAN: Asahi Kasei Chemicals will construct a validation plant at its Mizushima Works (Kurashiki, Okayama, Japan) for its newly developed proce ...

Read more
Anellotech, IFP, Axens JV for biobased aromatics technology

PEARL RIVER, US/PARIS, FRANCE: Anellotech Inc, IFP Energies nouvelles (IFPEN) and its subsidiary Axens have announced a strategic alliance to develop ...

Read more
Triggering rearrangement of chemical particles for efficient medical treatments

COVENTRY, UK: More efficient medical treatments could be developed thanks to a new method for triggering the rearrangement of chemical particles. The ...

Read more
Kemira relocates oil & mining segment headquarters to Houston, US

HOUSTON, US: Helsinki-based Kemira has completed the relocation of its global oil & mining segment headquarters to Houston, Texas. The company sig ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X