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Northfield, Illinois, January 29, 2021/PRNewswire/--Stepan Corporation (NYSE: SCL) today announced that it has acquired INVISTA’s aromatic polyester polyol business and related assets. The transaction includes two manufacturing sites, one in Wilmington, North Carolina (USA) and the other in Vlissingen (Netherlands), as well as intellectual property, customer relations, inventory and working capital. The global sales of the acquired business are approximately US$100 million. The acquisition is financed with cash on hand and is expected to increase Stepan's EBITDA margin.
"We are very pleased to add INVISTA’s polyester polyol capabilities to Stepan. This acquisition expands our manufacturing capabilities in the United States and Europe, strengthens our business continuity capabilities in the market, and supports our global rigid polyols Business growth. We expect INVISTA’s Stepan Chairman and CEO F. Quinn Stepan, Jr. to say: “The available spare capacity, coupled with the opportunity for the two factories to eliminate bottlenecks, will enable Stepan to be capital-efficient. Support market growth. "We believe that with energy conservation efforts and stricter building codes that should continue to drive market growth, the long-term prospects for the use of rigid polyols in insulating materials remain strong. In addition, we believe that the acquired technology will accelerate our product leadership plan, improve manufacturing efficiency and", and create higher value for the entire market. We look forward to providing our new customers with the highest level of service, and we are very happy to serve our The global polyester polyol manufacturing network adds new employees and two new factories."
As part of Stepan’s fourth-quarter and full-year 2020 results conference call on February 18, 2021, management will provide more perspectives on the acquisition.
Stepan is a major manufacturer of specialty chemicals and intermediate chemicals, and its products are widely used in various industries. Stepan is a leading commercial producer of surfactants, which are key ingredients in consumer and industrial cleaning and disinfection products, as well as agricultural and oilfield solutions. The company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and CASE (coatings, adhesives, sealants and elastomers) industries.
Stepan is headquartered in Northfield, Illinois and utilizes a network of modern production facilities located in North and South America, Europe and Asia.
The company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan, please visit the company's online www.stepan.com
For more information about Stepan's sustainability plan, please visit the sustainability page at www.stepan.com
Contact: Luis E. Rojo 847-446-7500
Certain information in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the revised section 27A of the Securities Act of 1933, and the revised section 21E of the Securities Exchange Act of 1934. These statements include statements about Stepan's plans, goals, strategies, financial performance and prospects, trends, the amount and timing of future cash distributions, prospects or future events, and involve known and unknown risks that are difficult to predict. Therefore, Stepan Company's actual financial results, performance, achievements or prospects may differ materially from those expressed or implied in these forward-looking statements. In some cases, you can identify forward-looking statements by using words such as "may", "may", "anticipate", "intend", "plan", "seek", "expect", "believe", etc. "Estimate", "guidance", "forecast", "potential", "continue", "may", "will", "will", "should", "illustrative" and variations of these terms and similar expressions, Or the negation of these terms or similar expressions. Such forward-looking statements are necessarily based on estimates and assumptions. Although Stepan and its management believe that these estimates and assumptions are reasonable based on their knowledge and understanding of the business and industry, they are inherently uncertain. These statements are not guarantees of future performance, and shareholders should not place undue reliance on forward-looking statements.
There are many risks, uncertainties and other important factors, many of which are beyond Stepan’s control and may cause actual results to differ materially from the forward-looking statements contained in this press release. Such risks, uncertainties and other important factors include the risks, uncertainties and factors described in Stepan’s Form 10-K, Form 10-Q, and Form 8-K reports, as well as attachments to these reports, and include (but Excluding but not limited to) risks and uncertainties related to the impact of the COVID-19 pandemic; accidents, unplanned shutdowns or disruptions in manufacturing facilities; reduced demand due to customer product reformulations or new technologies; we cannot successfully develop or launch New products; compliance with the law; our ability to identify suitable acquisition candidates and successfully complete and integrate acquisitions; global competition; raw material and energy costs and supply fluctuations; transportation interruptions or major changes in transportation costs; downturns and overall in certain industries Economic downturn; international business risks, including currency exchange rate fluctuations, legal restrictions, and taxes; litigation solutions that are unfavorable to us; safeguard and protect intellectual property rights; our ability to enter the capital market; global politics, military, security, or other unstable factors ; Costs associated with expansion or other capital projects; interruption or destruction of information technology systems; our ability to retain executive management and key personnel; and our debt covenants.
These forward-looking statements are only made on the date of this article, and Stepan Corporation assumes no obligation to update or revise these forward-looking statements, whether due to new information, future events, or other reasons.
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