Stepan Acquires Peter Cremer Singapore Assets
The US-based Stepan Company has bought the manufacturing assets of Germany-based Peter Cremer's 100,000t per year methyl ester plant, located on Singapore's Jurong Island.
Stepan plans to re-start production of the Jurong Island plant after adding fractionation capabilities to its current production capabilities at the end of 2011.
The company also plans to install methyl ester fractionation capability on the site to supply customers, as well as its own internal surfactant needs, with fractionated methyl esters and derivatives made from tropical oils available in the region.
Financial terms of the transaction have not been disclosed.