Posted: October 20, 2021 at 6:55 a.m. EDT|Update: 19 hours 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 site. 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 atwww.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”, “probable”, “will”, “would”, “should”, “illustrative” and the variations of these similar terms and expressions, or the negative of such 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. Such risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in reports and attachments to such reports, Forms 10-K, 10-Q and 8-K of Stepan Company, and include (but not limited to) the risks and uncertainties associated with 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 of 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
Show original content:
Company SOURCE Stepan
The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]