BASF Mexicana has entered an agreement to sell a portion of the oleochemical surfactants business in Mexico to the Stepan Company for an undisclosed price. The transaction is expected to close in Q4 2017, subject to applicable regulatory approvals and the satisfaction of certain other requirements.
The Mexico oleochemical surfactants business is part of BASF´s Care Chemicals division. The transaction includes the Mexico oleochemical surfactants product portfolio and associated intellectual property, as well as the production assets at the Ecatepec manufacturing site in Estado de Mexico. Under the terms of the agreement, most of the BASF employees at the Ecatepec site will transfer to the Stepan Company.
“The sale of the oleochemical surfactants business in Mexico to Stepan will allow us to focus on other areas of our broad portfolio and provide continuity for our customers,” said Michael Stumpp, President, BASF Mexicana. “Ensuring a smooth transition to Stepan and honoring our obligations to customers, suppliers and employees will be a priority.”
“With this divestiture, BASF’s Care Chemicals business will help our customers in Mexico grow further by focusing on more strategic aspects of our home care, personal care and industrial solutions portfolio, including optical effects, specialty co-surfactants, actives, emulsifiers and polymers,” said Scott Thomson, Senior Vice President, Care Chemicals for BASF, North America.
BASF’s oleochemical surfactants business in the US, Europe, and Asia is not impacted by this decision. Oleochemical surfactants are used primarily for making soaps and detergents in a wide range of home care and personal care products.
