Stepan acquires european quaternary biocides and speciality surfactants business
New Polyol plant in Wesseling, Germany, completes first test batch
Stepan UK. Ltd., a wholly owned subsidiary of Stepan Europe, S.A., has acquired the methyl chloride and benzyl chloride quaternaries, amine oxides, betaine and ethanolamide business of Pentagon Chemical Specialties (formerly owned by Dow Haltermann), based in Workington, United Kingdom.The acquired products are sold into the detergent, hard surface cleaning, personal care and other industrial markets. The products will continue to be manufactured at Pentagon facilities.
"This acquisition, together with the recently acquired Degussa Italy biocide and amine oxide business, will allow Stepan to extend its position in the biocide market and supplement its personal care portfolio," said F. Quinn Stepan, Chief Executive Officer of Stepan Company. "With the resources and relationships of Stepan, we see this as another step in our program of globalization and continuing to fulfill the needs of our customers around the globe."
Furthermore it was announced today that Stephen D. Newlin resigned from the Company's Board of Directors in connection with his new position with Ecolab, Inc. Effective July 1, 2003, Mr. Newlin joined Ecolab as the President of its Industrial Sector.
"As a New York Stock Exchange listed company, Stepan is committed to having its outside directors meet applicable independence standards," said F. Quinn Stepan, Chairman and Chief Executive Officer of Stepan Company. "We greatly value our relationship with Ecolab. Steve's new position with Ecolab, an important Stepan customer, is inconsistent with these new standards for director independence."
"Steve recently joined the Stepan Board and was an immediate contributor to our strategy for globalization and innovation throughout the world," said Mr. Stepan. "We support Steve's decision to fully devote himself to the challenges and opportunities in his new position."
Stepan Company, headquartered in Northfield, Illinois, is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products.
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
