Stepan Co., Northfield, IL, has reached an agreement with Bayer MaterialScience to acquire its North American Polyester Resins business, including a production facility located in Columbus, GA.
Bayer MaterialScience LLC has agreed to sell its global powder polyester resins business and its U.S.-based liquid polyester resins merchant business to Stepan Co. of Northfield, IL.
The coating resins business that was formerly part of Cytec Industries Inc. has become an independent company with the completion of the previously announced sale from Cytec to funds affiliated with Advent International, a global private equity firm.