NORTHFIELD, Ailing., Jan. 29, 2021 /PRNewswire/ — Stepan Firm (NYSE: SCL) in the present day introduced that it has bought INVISTA’s fragrant polyester polyol enterprise and related property. Included within the transaction are two manufacturing websites, one in Wilmington, NC (United States) and the opposite in Vlissingen (the Netherlands), and mental property, buyer relationships, stock and dealing capital. The enterprise acquired has world gross sales of roughly $100 million. This acquisition was financed with money readily available and is predicted to be accretive to Stepan’s EBITDA margins.
“We’re excited so as to add INVISTA’s polyester polyol capabilities to Stepan. This acquisition expands our manufacturing functionality in each the USA and Europe, enhances our enterprise continuity capabilities for the market and helps the expansion of our world inflexible polyol enterprise. We count on that INVISTA’s accessible spare capability, plus debottlenecking alternatives in each vegetation, will enable Stepan to assist market progress in a capital environment friendly method,” stated F. Quinn Stepan, Jr. Chairman and Chief Government Officer of Stepan. “We consider the long-term prospects for inflexible polyol use in insulation stay robust as power conservation efforts and extra stringent constructing codes ought to proceed to drive market progress. Moreover, we consider the acquired expertise will speed up our product management initiatives, drive manufacturing efficiencies and output, and create elevated worth for the general market. We stay up for offering the best stage of service to our new clients and are excited so as to add the brand new workers and the 2 new websites to our world polyester polyol manufacturing community.”
Administration will present extra perspective on this acquisition as a part of Stepan Firm’s fourth quarter and full yr 2020 outcomes convention name on February 18, 2021.
Company Profile
Stepan Firm is a significant producer of specialty and intermediate chemical substances utilized in a broad vary of industries. Stepan is a number one service provider producer of surfactants, that are the important thing elements in client and industrial cleansing and disinfection merchandise and in agricultural and oilfield options. The Firm can 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 Northfield, Illinois, Stepan makes use of a community of contemporary manufacturing amenities positioned in North and South America, Europe and Asia.
The Firm’s frequent inventory is traded on the New York Inventory Alternate (NYSE) underneath 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 could 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 throughout the which means of the Non-public Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These statements embrace statements about Stepan Firm’s plans, goals, methods, monetary efficiency and outlook, traits, the quantity and timing of future money distributions, prospects or future occasions and contain recognized and unknown dangers which might be troublesome to foretell. Consequently, Stepan Firm’s precise monetary outcomes, efficiency, achievements or prospects could 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 resembling “could,” “may,” “count on,” “intend,” “plan,” “search,” “anticipate,” “consider,” “estimate,” “steerage,” “predict,” “potential,” “proceed,” “seemingly,” “will,” “would,” “ought to,” “illustrative” and variations of those phrases and comparable expressions, or the detrimental of those phrases or comparable expressions. Such forward-looking statements are essentially based mostly upon estimates and assumptions that, whereas thought of affordable by Stepan Firm and its administration based mostly on their data and understanding of the enterprise and business, are inherently unsure. These statements should not ensures of future efficiency, and stockholders shouldn’t place undue reliance on forward-looking statements.
There are a selection of dangers, uncertainties and different necessary elements, lots of that are past Stepan Firm’s management, that would trigger precise outcomes to vary materially from the forward-looking statements contained on this information launch. Such dangers, uncertainties and different necessary elements embrace, amongst different elements, the dangers, uncertainties and elements described in Stepan Firm’s Type 10-Okay, Type 10-Q and Type 8-Okay reviews and displays to these reviews, and embrace (however should not restricted to) dangers and uncertainties associated to the impression of the COVID-19 pandemic; accidents, unplanned manufacturing shutdowns or disruptions in manufacturing amenities; diminished demand as a result of buyer product reformulations or new applied sciences; our incapacity to efficiently develop or introduce new merchandise; compliance with legal guidelines; our potential to determine appropriate acquisition candidates and efficiently full and combine acquisitions; world competitors; volatility of uncooked materials and power prices and provide; disruptions in transportation or important modifications in transportation prices; downturns in sure industries and normal financial downturns; worldwide enterprise dangers, together with forex alternate price fluctuations, authorized restrictions and taxes; unfavorable decision of litigation in opposition to us; sustaining and defending mental property rights; our potential to entry capital markets; world political, navy, safety or different instability; prices associated to enlargement or different capital tasks; interruption or breaches of knowledge expertise programs; our potential to retain govt 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 because of new data, future occasions or in any other case.
SOURCE Stepan Firm
