NORTHFIELD, Ill., June 2, 2016 /PRNewswire/ -- Stepan Company (NYSE: SCL) is pleased to confirm that the expansion of its polyester polyol facility in Brzeg Dolny, Poland will be completed in mid 2016, with the addition of a new reactor. The new asset is required to support Stepan's growth in the Coatings Adhesives Sealants and Elastomers (CASE) business for its European customers.
Stepan Company has also confirmed the completion of the project to relocate its European R&D and Technical Service center to new laboratories in Wroclaw, Poland. The expanded facilities will serve Stepan's business in insulation foams as well as the diverse CASE business. In addition to providing increased space for its growing team of scientists, the expanded facilities include a wide range of test and production equipment to support Stepan's customers with innovation and technical development projects.
Roger Stubbs, Vice President, Polymers Europe said, "The completion of this expansion to our facilities in Poland marks a significant milestone in our growth story within the European polyester polyol industry. Commitment to these plans by Stepan is an endorsement of our growth strategy. Together with manufacturing and technical centers in the Americas and Asia, Stepan is one of the leading suppliers of Polyester Polyols around the world. By utilizing Stepan's expertise in polyester chemistry and by bringing a focus to innovation and technical service, we are committed to further meet the demands of our Global and Regional customers now and in the future. We believe our unique chemistry, processing and consistent quality, combined with our dedicated Technical Service, gives us a truly differentiated position which adds real value to our customers."
About Stepan Company
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading producer of surfactants, which are the key ingredients in consumer and industrial cleaning compounds. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and C.A.S.E. (Coatings, Adhesives, Sealants, and Elastomers) industries.
Headquartered in Northfield, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia. The common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about estimated costs expected to be incurred in connection with the facility closure; the timing of when such costs are expected to be incurred, the financial impact of such facility closure, future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services: and other statements identified by words such as "anticipate", "believe", "estimate", "expect", "intend", "may", "objective", "outlook", "plan", "project", "possible", "potential", "should" and similar expressions. These forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to business, economic and competitive risks and uncertainties, many of which are difficult to predict and beyond our control, that could cause actual results to differ materially from those projected, anticipated or implied.
The most significant of these uncertainties are described in Stepan Company's Form 10-K, Form 8-K and Form 10-Q reports and exhibits to those reports, and include (but are not limited to), prospects for our foreign operations, foreign currency fluctuations, certain global and regional economic conditions, the probability of future acquisitions and the uncertainties related to the integration of acquired businesses, the probability of new products, the loss of one or more key customer or supplier relationships, the costs and other effects of governmental regulation and legal and administrative proceedings, including the expenditures necessary to address and resolve environmental claims and proceedings, and general economic conditions. These forward-looking statements and the information set forth herein speaks only as of the date hereof, and Stepan Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Scott D. Beamer
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SOURCE Stepan Company