Stepan Company has announced an agreement to sell its assets in the Philippines. As part of the transaction, SPQI will enter into a tolling agreement with Masurf to continue serving customers after the deal closes. The completion of the transaction is subject to normal closing conditions, although specific terms of the deal have not been disclosed. Stepan Company, headquartered in Northbrook, Illinois, is a leading manufacturer of specialty and intermediate chemicals, prominently producing surfactants and supplying polyurethane polyols.
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