17:19 PM | February 1, 2021 | Clay Boswell
Stepan Company (Northfield, Illinois) says it has acquired Invista’s aromatic polyols business, which has annual sales of about $100 million. The deal includes a manufacturing site in Wilmington, North Carolina, and another in Vlissingen, Netherlands, as well as intellectual property, customer relationships, inventory, and working capital. Terms of the deal, which was financed with cash on hand, were not disclosed.
F. Quinn Stepan, Jr., chairman and CEO, says the acquisition will support the growth of Stepan’s global rigid polyol business. “We expect that Invista's available spare capacity, plus debottlenecking opportunities in both plants, will allow Stepan to support market growth in a capital efficient way," he says. "We believe the long-term prospects for rigid polyol use in insulation remain strong, as energy conservation efforts and more stringent building codes should continue to drive market growth. Additionally, we believe the acquired technology will accelerate our product leadership initiatives, drive manufacturing efficiencies and output, and create increased value for the overall market."
Stepan already has polyester polyols capacity at Nanjing, China; Wesseling, Germany; Brzeg Dolny, Poland; Columbus, Georgia; and Millsdale, Illinois, according to IHS Markit's Directory of Chemical Producers.
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February 02, 2021 at 12:28AM
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Stepan buys Invista's aromatic polyols business - Chemical Week
"aromatic" - Google News
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