Univar Solutions and PVS Chloralkali Announce New Hydrochloric Acid Agreement
DOWNERS GROVE, Ill., Oct. 27, 2020 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a global chemical and ingredient distributor and provider of value-added services, and PVS Chloralkali Inc., a wholly owned subsidiary of PVS Chemicals Inc. (PVS), today announced a new agreement where PVS will transfer railcars located in Ohio, Illinois and Virginia and sourcing agreements for Hydrochloric Acid (HCL) to Univar Solutions.
"This agreement further expands Univar Solutions' large and robust network for its HCL business in North America," said Joe Serna, vice president, bulk chemical distribution for Univar Solutions. "We're very pleased to increase our sourcing capabilities and logistics infrastructure to enhance our presence as a top HCL provider benefitting customers throughout North America."
As part of the agreement Univar Solutions becomes a strategic provider of HCL for PVS, which is one of the largest managers of chlorides used in the production of finished steel throughout North America. Univar Solutions' network, supplier relationships, digital technology, technical expertise, and market knowledge help customers navigate dynamic market conditions and is expected to support this strategic alliance.
"PVS remains active and growing throughout all of its products and markets. This agreement strengthens PVS's hydrochloric acid business by allowing the company to focus on where we maximize value for our customers," said David Nicholson, president and CEO of PVS Chemicals, Inc.
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation and recipe development, and leading digital tools the company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.
About PVS Chemicals, Inc.
PVS Chemicals, Inc., founded in Detroit in 1945, has more than 1,200 employees worldwide and has 14 manufacturing plants and several distribution facilities across the U.S., Europe, Canada and Asia. What PVS provides touches everyone in some unique way. That's why at PVS, Chemistry For Daily Life™ isn't just a tagline, it's a promise. PVS does more than your average chemical company. PVS is a global manufacturer, distributor, and marketer of high- quality chemicals and provides reliable transportation services to its suppliers and customers. PVS provides sustainable solutions around the world to diverse industries that include electronics, manufacturing, steel, agricultural, fine chemicals, metal finishing, water treatment and food processing. PVS is committed to 100% customer satisfaction and creating a circular economy to maximize the use and reuse of our planet's resources. For more information, visit www.pvschemicals.com.
Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and outlook for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the impacts of the effects of COVID-19 on the Company, the Company's anticipated future results and financial performance, liquidity position and cash flows, actions regarding expense control and cost reductions, expected net synergies from the Nexeo acquisition, capital expenditures and other statements regarding the Company's Streamline 2022 Program and other initiatives. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the sustained geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; current and new actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers and the timing and extent of an economic recovery; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo, or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.
SOURCE Univar Solutions Inc.
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