Stepan Philippines Quaternaries Agrees To Sell SPQI's Manufacturing Assets In Bauan, Batangas, Philippines To Masurf; Terms Not Disclosed
Benzinga · 05/27 12:10
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Stepan Company (NYSE: SCL) today announced that its subsidiary, Stepan Philippines Quaternaries, Inc. (SPQI), has entered into an agreement to sell SPQI's manufacturing assets located in Bauan, Batangas, Philippines to Masurf, Inc., a subsidiary of Musim Mas Holdings Pte. Ltd.
As part of the transaction, SPQI will enter into a tolling agreement with Masurf to continue to serve customers after the closing. The transaction is subject to normal closing conditions. Terms of the transaction were not disclosed.
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