Stepan Company Agrees To Sell Manufacturing Assets In Lake Providence To Undisclosed Buyer; Terms Not Disclosed

Stepan Company (NYSE: SCL) today announced that it has entered into an agreement to sell its manufacturing assets located in Lake Providence, LA to an undisclosed buyer.

This transaction follows Stepan's most recent divestiture of its plant in the Philippines, representing the Company's ongoing footprint optimization efforts and focus on core growth opportunities.

The transaction is subject to normal closing conditions. The parties are targeting to close the transaction before year end, subject to the satisfaction of customary closing conditions, including completion of ongoing due diligence. Terms of the transaction were not disclosed.