16.	ACQUISITION

2018 Acquisition

On March 26, 2018, the Company, through a subsidiary in Mexico, acquired BASF Mexicana, S.A.DE C.V.’s (BASF) production facility in Ecatepec, Mexico and a portion of its related surfactants business. The facility, which is near Mexico City, has over 50,000 metric tons of capacity, 124,000 square feet of warehouse space, a large laboratory and office space. The acquired assets and business are included in the Company’s Surfactants segment. The purchase price of the acquisition was $21,475,000 and was paid with cash on hand. The primary assets acquired were land, buildings, machinery and equipment and inventory. The acquisition was accounted for as a business combination, and, accordingly, the assets acquired were measured and recorded at their estimated fair values. The purchase price allocation remains preliminary as of June 30, 2018 pending finalization of the value of inventory acquired.

(In thousands)
Assets:
Property, plant and equipment	$	14,464
Inventory		4,500
Value-added tax receivables		2,511
Total assets acquired	$	21,475

The acquired business is expected to have minimal impact on the Company’s 2018 financial results. Pro forma financial information for the first six months of 2017 and 2018 has not been included because revenues and earnings of the Company would not have been significantly different than reported had the acquisition date been January 1, 2017.