Stepan acquires Invista’s aromatic polyester polyol business
The purchase includes two manufacturing sites, one in Wilmington, N.C., and the other in Vlissingen, the Netherlands.
Specialty chemical maker Stepan Co. has acquired Invista’s aromatic polyester polyol business and associated assets for an undisclosed amount.
The deal includes two manufacturing sites, one in Wilmington, N.C., and the other in Vlissingen, the Netherlands.
The business acquired has global sales of approximately US$100 million.
“This acquisition expands our manufacturing capability… enhances our business continuity capabilities for the market, and supports the growth of our global rigid polyol business,” Stepan chairman and CEO Quinn Stepan. “We believe the long-term prospects for rigid polyol use in insulation remain strong as energy conservation efforts and more stringent building codes should continue to drive market growth.”
Headquartered in Northfield, Ill., Stepan is a manufacturer of specialty and intermediate chemicals, and also supplies polyurethane polyols.