Acquisition

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Acquisition

17. ACQUISITION

On June 15, 2015, the Company acquired Procter & Gamble do Brasil S.A.’s sulfonation production facility in Bahia, Brazil for cash of $5,133,000. The facility, which is located in northeastern Brazil, has 30,000 metric tons of surfactants capacity. The acquisition was accounted for as a business combination and, accordingly, the assets acquired and liabilities assumed as part of the acquisition were measured and recorded at their estimated fair values. The purchase included property, plant and equipment valued at $6,007,000 and the assumption of liabilities valued at $874,000.  No intangibles or goodwill were acquired in the business combination. The purchase price allocation is final, and no allocation adjustments were made to the amounts recorded at the acquisition date. Other acquisition-related expenses were not material. The acquired business is included in the Company’s Surfactants segment.