Stepan Sells Specialty Polyurethane Systems Business
NORTHFIELD, IL - Stepan Co. announced the sale of its Specialty Polyurethane Systems business to J6 Polymers LLC. The cash sale includes inventory as well as customer and supplier lists, intellectual property, formulations, manufacturing procedures, and all other information required to operate the business.
The products associated with this business are produced at Stepan's Millsdale, IL, facility and third-party toll manufacturers. During a transition period, the products produced at the Millsdale facility will be toll produced for J6 Polymers LLC.
"This transaction will allow our Polymer business segment to redeploy resources to further improve growth and innovation in our line of polyols for coatings, adhesives, sealants and elastomers (CASE) applications," said F. Quinn Stepan Jr., President and CEO of Stepan Co.