Posted: October 20, 2021 at 6:55 a.m. EDT|Update: 8 minutes ago
NORTHBROK, Illinois., 20 October 2021 / PRNewswire / – Stepan Company (NYSE: SCL) today announced its intention to build and operate a new alkoxylation plant in its Pasadena, Texas establishment. Alkoxylates are an essential basic surfactant technology for the agriculture, oilfield, construction and household end-use markets. Stepan’s $ 220.0 million The investment is expected to provide a flexible capacity of 75,000 metric tonnes per year, capable of both ethoxylation and propoxylation, and better position the Company to meet growing global demand for our Surfactants and Polymers business.
“We are delighted to expand the alkoxylation capabilities of our North American network to Pasadena to place. This leading-edge global investment will allow Stepan to support the growth of our core markets, ”said F. Quinn Stepan Jr., Chairman and CEO of Stepan.
The new alkoxylation capacity in Pasadena, Texas is expected to come online at the end of 2023. Once operational, it will bring Stepan’s alkoxylation network to three plants and position the company with a footprint on the strategic US Gulf Coast globally.
Stepan Company is a leading manufacturer of specialty chemicals and intermediates used in a wide variety of industries. Stepan is a leading market producer of surfactants, which are key ingredients in consumer and industrial cleaning and disinfection products and agricultural and petroleum solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and CASE industries (coatings, adhesives, sealants and elastomers).
Based at Northbrook, Illinois, Stepan uses a network of modern production facilities located in the north and South America, Europe and Asia.
The Company’s common shares are listed on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about the Stepan company, please visit the company online at www.stepan.com.
You can find more information about Stepan’s sustainability program on the Sustainability page at www.stepan.com.
Certain information in this press release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. . These statements include statements about Stepan Company’s plans, objectives, strategies, performance and financial prospects, trends, amount and timing of future cash distributions, prospects or future events and involve known and unknown risks that are difficult to predict. Accordingly, the actual financial results, performance, achievements or prospects of Stepan Company may differ materially from those expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate”, “Believe”, “estimate”, “orientation”, “predict”, “potential”, “continue”, “,”, “. negative of these terms or similar expressions. These forward-looking statements are necessarily based on estimates and assumptions which, while considered reasonable by Stepan Company and its management based on their knowledge and understanding of the business and the industry, are inherently uncertain. These statements are not guarantees of future performance and shareholders should not place undue reliance on forward-looking statements.
There are a number of risks, uncertainties and other material factors, many of which are beyond the control of Stepan Company, that could cause actual results to differ materially from the forward-looking statements contained in this press release. These risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in the reports and the attachments to these reports (but are without limitation) the risks and uncertainties relating to the impact of the COVID-19 pandemic; accidents, unplanned production stoppages or disruptions in manufacturing facilities; reduced demand due to reformulations of customer products or new technologies; our inability to successfully develop or introduce new products; in accordance with the laws; our ability to identify suitable acquisition candidates and to successfully complete and integrate acquisitions; global competition; volatility in the costs and supply of raw materials and energy; disruptions in transportation or significant changes in transportation costs; downturns in some industries and general economic downturns; international business risks, including fluctuations in exchange rates, legal restrictions and taxes; unfavorable resolution of disputes against us; maintain and protect intellectual property rights; our ability to access capital markets; political, military, security or other instability at the global level; costs associated with expansion or other capital projects; interruption or violation of computer systems; our ability to retain senior management and key personnel; and our debt commitments.
These forward-looking statements are made only as of the date hereof, and Stepan Company assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Luis E. Rojo 847-446-7500
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