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Specialty Chemicals M&A image Specialty Chemicals M&A » By The Online Investor Staff, updated Tue., Apr. 30, 9:01 AM Recent mergers and acquisitions in the Specialty Chemicals M&A category.

Slide #61. Stepan Company North American Polyester Resins Business From Bayer

Acquirer: Stepan Company (NYSE:SCL)
Acquiree: North American Polyester Resins Business From Bayer
Details: Stepan Company (NYSE: SCL) today reported that it has reached an agreement with Bayer MaterialScience to acquire their North American Polyester Resins business, including the production facility located in Columbus, Georgia. Bayer MaterialScience is a leading producer of Powder Polyester Resins for metal coatings applications in NAFTA and Liquid Polyester Resins for CASE (Coatings, Adhesives, Sealants and Elastomers) applications globally. The facility houses a modern R&D laboratory for customer technical support and new product development. The 21,000 ton plant is expandable. The business to be acquired has sales of approximately $64 million. The definitive agreement is subject to customary closing conditions and the transaction is projected to close within four to six weeks. Financial terms of the transaction were not disclosed.

Stepan produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. Co. has three reportable segments: Surfactants, which are chemical agents that can provide actions such as detergency (i.e., the ability of water to remove soil from another surface), wetting and foaming, dispersing, emulsification (aiding two dissimilar liquids to mix), demulsification, viscosity modifications and biocidal disinfectants; Polymers, which include polyurethane polyols, polyester resins and phthalic anhydride; and Specialty Products, which are chemicals used in food, flavoring, nutritional supplement and pharmaceutical applications.

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Company Name:  Stepan Co.
Stock buyback:  SCL buyback
Website:  www.stepan.com
Sector:  Specialty Chemicals
Number of ETFs Holding SCL:  58
Total Market Value Held by ETFs:  $531.18M
Total Market Capitalization:  $1.86B
% of Market Cap. Held by ETFs:  28.54%
 

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April 30, 2024    9:01 AM Eastern
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