Stepan Increases Ownership in Philippine Joint Venture
Stepan Company announced that it has increased its ownership in the Company's Philippine joint venture, Stepan Philippines Inc. (SPI), from 50.0 percent to 88.8 percent. SPI operates a surfactant manufacturing plant, south of Manila, producing laundry and cleaning products, fabric softeners and functional surfactants for the Philippines and other Asian markets. United Coconut chemicals Inc (UCCI) will remain as the other 11.2 percent owner. UCCI operates an alcohol plant adjacent to SPI, capable of supplying feedstock raw materials for production of surfactants.
"Together with our recently announced plant acquisition in Singapore, we are committed to building our surfactant franchise in Asia," said F. Quinn Stepan, Jr., President and Chief Executive Officer of Stepan Company. "We have been working to diversify the product offering produced at the Philippine site and plan to capitalize on synergies with our Singapore plant when it starts up in late 2011," said Mr. Stepan.
Most read news
Organizations
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.