NORTHFIELD, Unwell., Feb. 2, 2021 /PRNewswire/ — Stepan Firm (NYSE: SCL) at present reported that it has closed on the acquisition of a fermentation plant positioned in Lake Windfall, Louisiana. Monetary phrases of the transaction weren’t disclosed.
“Fermentation is a brand new platform know-how for Stepan Firm as we glance to commercialize subsequent era surfactants. Bio-surfactants, produced by way of fermentation, are engaging on account of their favorable biodegradability, low toxicity, and in some circumstances, distinctive antimicrobial properties,” stated F. Quinn Stepan Jr., Chairman and Chief Govt Officer of Stepan Firm.
Bio-surfactants could be a beautiful formulation choice for patrons within the agriculture, oilfield, private care and family, industrial and institutional cleansing markets. In March 2020, Stepan closed on the acquisition of NATSURFACT®, a rhamnolipid-based line of bio-surfactants derived from renewable sources. NATSURFACT’s rhamnolipid know-how supplies an essential new choice as prospects throughout markets search new sustainability targets for his or her merchandise.
“The acquisition of an industrial scale fermentation plant represents the most recent step in our bio-surfactant commercialization efforts. With extra funding, we count on to have the ability to produce 20,000 metric tons per yr of bio-surfactants from the positioning. We look ahead to working with our prospects to convey these subsequent era surfactants to the market,” Stepan stated.
Stepan Firm is a significant 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 substances in client 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 Northfield, Illinois, Stepan makes use of a community of recent manufacturing services positioned in North and South America, Europe and Asia.
The Firm’s widespread inventory is traded on the New York Inventory Change (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 could be discovered on the corporate web site’s Sustainability part at www.stepan.com/sustainability.
Sure data on this information launch consists of forward-looking statements inside the that 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 Change Act of 1934, as amended. These statements embody statements about Stepan Firm’s plans, targets, methods, monetary efficiency and outlook, tendencies, the quantity and timing of future money distributions, prospects or future occasions and contain identified and unknown dangers which are tough to foretell. As a consequence, 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 circumstances, you possibly can determine forward-looking statements by means of phrases comparable to “could,” “might,” “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 unfavourable of those phrases or comparable expressions. Such forward-looking statements are essentially primarily based upon estimates and assumptions that, whereas thought of affordable by Stepan Firm and its administration primarily based on their information and understanding of the enterprise and business, are inherently unsure. These statements aren’t ensures of future efficiency, and stockholders mustn’t place undue reliance on forward-looking statements.
There are a selection of dangers, uncertainties and different essential 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 essential components embody, amongst different components, the dangers, uncertainties and components described in Stepan Firm’s Kind 10-Okay, Kind 10-Q and Kind 8-Okay reviews and reveals to these reviews, and embody (however aren’t 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 on account of buyer product reformulations or new applied sciences; our incapacity to efficiently develop or introduce new merchandise; compliance with legal guidelines; our means to determine appropriate acquisition candidates and efficiently full and combine acquisitions; international competitors; volatility of uncooked materials and power prices and provide; disruptions in transportation or vital adjustments in transportation prices; downturns in sure industries and normal financial downturns; worldwide enterprise dangers, together with forex change price fluctuations, authorized restrictions and taxes; unfavorable decision of litigation in opposition to us; sustaining and defending mental property rights; our means to entry capital markets; international political, navy, safety or different instability; prices associated to enlargement or different capital initiatives; interruption or breaches of data know-how techniques; our means 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 on account of new data, future occasions or in any other case.
Contact: Luis E. Rojo 847-446-7500
SOURCE Stepan Firm