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|Stepan Announces Agreement to Acquire a Surfactant Production Facility and a Portion of its Associated Surfactant Business in Mexico|
The definitive agreement is subject to closing conditions and the satisfaction of certain other requirements. The transaction is expected to close in the fourth quarter of 2017 and is expected to have minimal impact on Stepan's 2017 financial results. Financial terms of the transaction were not disclosed.
"The acquisition supports the Company's growth strategy in Latin America. We believe this acquisition significantly enhances Stepan's market position and supply capabilities for surfactants in
Stepan is a 2017
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about estimated costs expected to be incurred in connection with the facility closure; the timing of when such costs are expected to be incurred, the financial impact of such facility closure, future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services: and other statements identified by words such as "anticipate", "believe", "estimate", "expect", "intend", "may", "objective", "outlook", "plan", "project", "possible", "potential", "should" and similar expressions. These forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to business, economic and competitive risks and uncertainties, many of which are difficult to predict and beyond our control, that could cause actual results to differ materially from those projected, anticipated or implied.
The most significant of these uncertainties include (but are not limited to), the following: satisfactory completion of due diligence and other requirements to complete the potential acquisition, prospects for our foreign operations, foreign currency fluctuations, certain global and regional economic conditions, the probability of future acquisitions and the uncertainties related to the integration of acquired businesses, the probability of new products, the loss of one or more key customer or supplier relationships, the costs and other effects of governmental regulation and legal and administrative proceedings, including the expenditures necessary to address and resolve environmental claims and proceedings, and general economic conditions and the other risk factors described in
Contact: Scott D. Beamer 847-446-7500
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