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Acquisition | 3 Months Ended
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Mar. 31, 2018
Business Combinations [Abstract] |
Acquisition |
1 6. | ACQUISITION
2018 Acquisition On March 26, 2018, the Company through a subsidiary in Mexico closed on a previously announced agreement with BASF Mexicana, S.A.DE C.V.to acquire their surfactants production facility in Ecatepec, Mexico and a portion of their associated surfactants business. The facility is located close to Mexico City and has over 50,000 metric tons of capacity, 124,000 square footage 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 allocations are preliminary as of March 31, 2018 because the valuations necessary to assess the fair values of net assets acquired are still in process.
(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 quarter 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.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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