Masurf to acquire manufacturing facility from Stepan Philippines Quaternaries.

Masurf, a subsidiary of an Indonesian food processing company - Musim Mas, agreed to acquire manufacturing facility located in Philippines, from Stepan Philippines Quaternaries, a subsidiary of an American specialty chemicals manufacturer - Stepan Company. Financial terms were not disclosed. "The sale of this facility aligns with our strategy to focus on core growth areas; our global manufacturing network and the tolling relationship with Masurf after the transaction closes will allow us to continue to service and grow with our broad customer base in Southeast Asia. I want to thank our Philippines team for their valuable contributions over the last 30 years. We are confident that this facility will thrive under Masurf ownership," Luis Rojo, Stepan CEO.