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Univar's (UNVR) ChemPoint Expands Agreement With Niacet

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Univar Solutions Inc.’s UNVR subsidiary, ChemPoint, announced the expansion of its distribution agreement with Niacet Corporation. The agreement is extended to include the sales, marketing and distribution of Niaproof anionic surfactant 08 in Mexico.

This agreement is an addition to the existing relationship between the companies, which commenced in the United States in 2009 and later expanded into Europe, the Middle East, and Africa before entering Mexico.

Niaproof anionic surfactant 08 is an alcohol sulfate used in building and construction, homecare and industrial cleaning, metal processing and fabrication. Due to solubilizing power in electrolytes, Niaproof anionic surfactant 08 can also be found in industrial detergents and textile conditioning agents.

Niacet's proven track record in production along with ChemPoint's technologies, focused product teams and digital marketing capabilities are expected to attract new customers and grow differentiated applications.

Shares of Univar have gained 70.2% in the past year compared with 89.2% rise of the industry.

Univar recently announced an agreement to expand its existing partnership with Novozymes into the U.S. and Canadian homecare, industrial cleaning and beverages markets. The expanded relationship signifies a shared dedication toward providing customers with a portfolio of ingredients designed to improve product performance.

The company, in its last reported quarter’s earnings call, stated that it expects adjusted EBITDA of $630-$650 million for 2021. It also anticipates adjusted EBITDA of $150-$160 million for first-quarter 2021.

Univar is also actively managing its expenses and reducing costs to maintain its financial strength. These savings represented more than $20 million in cost reductions for 2020, which are incremental to the net synergies achieved from the Nexeo acquisition of $46 million. It expects to achieve $120 million in annual Nexeo net synergies by early 2022.

Univar Solutions Inc. Price and Consensus

Univar Solutions Inc. Price and Consensus
Univar Solutions Inc. Price and Consensus

Univar Solutions Inc. price-consensus-chart | Univar Solutions Inc. Quote

Zacks Rank &Other Key Picks

Univar currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited FSUGY, Ashland Global Holdings Inc. ASH and Impala Platinum Holdings Limited IMPUY.

Fortescue has a projected earnings growth rate of 107.8% for the current fiscal year. The company’s shares have surged 138.2% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ashland has an expected earnings growth rate of 83.9% for the current fiscal year. The company’s shares have gained 83.6% in the past year. It currently sports a Zacks Rank #1.

Impala has an expected earnings growth rate of 197.6% for the current fiscal year. The company’s shares have skyrocketed 254.7% in the past year. It currently flaunts a Zacks Rank #1.

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