BASF SE, one of the most prominent players of the global bulk and specialty chemicals industry, has reportedly claimed that it has finalized the sale deal of a part of its oleochemical surfactants business in Mexico. The unit has been sold to Stepan CDMX, S. de R.L. de C.V. The pact includes the oleochemical surfactants product portfolio, intellectual property rights, and production assets in Estado de Mexico. Incidentally, the oleochemical surfactants business in Mexico is a part of BASF’s Care Chemicals segment. As per the terms & conditions of the pact, BASF has shifted nearly 108 employees to Stepan.

According to Michael Stumpp, President of BASF Mexicana, the sale of the specialty chemical business to Stepan will help the firm focus on other areas of its product portfolio while providing proficient services to the customers. A key official at the Care Chemicals division of BASF has stated that the decision to sell oleochemical surfactants business to Stepan in Mexico will help the firm to focus more on the important aspects pertaining to personal care, home care, emulsifiers, specialty co-surfactants, and polymers. The strategic move is also likely to help the firm’s Care Chemicals segment in Mexico to focus more on the needs of its customers and strengthen its position in the regional bulk & specialty chemicals industry.

However, the decision will not impact BASF’s oleochemical surfactants business in other regions such as Asia, the U.S., and Europe. The sale agreement, which was proposed in June last year, was supposed to be closed in the fourth quarter of 2017, subject to approvals from regulatory authorities in Mexico. However, with certain hiccups along the way, the deal has been finalized now, in the first quarter of 2018. It has been speculated that the sale deal will prove beneficial not only for Stepan but will also promote the growth of the bulk & specialty chemicals industry in North America.