Stepan Company sees acquisition slightly accretive to FY13 earnings

Stepan Company (SCL) has completed its acquisition of the North American Polyester Resins business from Bayer MaterialScience (BAYRY). The business has sales of approximately $64M. "The acquisition should be slightly accretive to 2013 earnings," said Stepan CEO F. Quinn Stepan, Jr. "We intend to make future capital expenditures to expand the capabilities at the site and look forward to providing the highest level of service to our new customers."