Stepan Co. (SCL) to Sell Philippine Assets

Stepan Company (NYSE: SCL) today announced that its subsidiary, Stepan Philippines Quaternaries, Inc. (SPQI), has entered into an agreement to sell SPQI's manufacturing assets located in Bauan, Batangas, Philippines to Masurf, Inc., a subsidiary of Musim Mas Holdings Pte. Ltd.

"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," said Luis Rojo, Chief Executive Officer of Stepan. Rojo continued, "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."

As part of the transaction, SPQI will enter into a tolling agreement with Masurf to continue to serve customers after the closing. The transaction is subject to normal closing conditions. Terms of the transaction were not disclosed.

Corporate Profile

Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection compounds and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.

Headquartered in Northbrook, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia.

The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com

More information about Stepan's sustainability program can be found on the Sustainability page at www.stepan.com

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