Stepan Company, a leading manufacturer of specialty and intermediate chemicals, has recently taken a significant step towards its strategic growth objectives. On November 14, 2025, the company successfully closed the sale of its subsidiary, Stepan Philippines Quaternaries, Inc. (SPQI), to Masurf, Inc., a subsidiary of Musim Mas Holdings Pte. Ltd. This transaction marks a pivotal moment in Stepan's journey, as it aligns with the previously announced Asset Transfer Agreement, dated May 27, 2025. By focusing on core growth assets, Stepan is poised to deliver exceptional value to its customers and stakeholders worldwide.
The sale of SPQI's manufacturing assets in Bauan, Batangas, Philippines, to Masurf, Inc., signifies Stepan's commitment to its strategic priorities. As part of the closing, SPQI entered into a tolling agreement with Masurf, ensuring uninterrupted service and growth opportunities for customers in Southeast Asia. This strategic move is a testament to Stepan's global manufacturing network and its ability to adapt and thrive in a dynamic market.
Luis Rojo, President and Chief Executive Officer of Stepan, expressed his enthusiasm about this development, stating, "The successful closing of this transaction is a crucial step in our ongoing strategy to sharpen our focus on core growth assets. We are delighted to have fulfilled our commitment to stakeholders and are confident in positioning Stepan for future success. Our global manufacturing network, coupled with our new tolling relationship with Masurf, ensures that our customers in Southeast Asia will continue to receive the highest level of service and growth opportunities. I extend my sincere gratitude to our dedicated Philippines team for their invaluable contributions over the past three decades. Their commitment has been instrumental to our success, and we are confident that the facility will flourish under Masurf's leadership."
Stepan's decision to concentrate on core growth assets and maintain a robust global network positions the company to excel in the competitive market. With a strong foundation, Stepan is well-equipped to deliver exceptional value to customers and stakeholders worldwide. For more information about Stepan Company, visit the Company online at www.stepan.com.
This forward-looking statement is based on the assumption that Stepan Company's strategic decisions will lead to positive outcomes. However, it's important to note that the company faces various risks and uncertainties, including accidents, production disruptions, market volatility, and global competition. These factors could potentially impact Stepan's financial results and performance. As such, investors should carefully consider these risks and uncertainties before making any investment decisions.
