- Univar Solutions Inc. (NYSE: UNVR) (“Univar Solutions” or “the Company”), a global chemical and ingredient distributor and provider of value-added services, announced today an agreement with Gelymar to distribute a portfolio of carrageenan products into the food and pharmaceutical industries in the United States and Canada
| DOWNERS GROVE, Ill., Dec. 18, 2020 /PRNewswire/ -- UnivarSolutions Inc. (NYSE: UNVR) (“Univar Solutions” or “the Company”), a global chemical and ingredient distributor and provider of value-added services, announced today an agreement with Gelymar to distribute a portfolio of carrageenan products into the food and pharmaceutical industries in the United States and Canada. The Gelymar product range further expands Univar Solutions comprehensive offering of texturizing solutions across regions in North America.
The exclusive agreement between Univar Solutions and Gelymar covers a wide range of products including the Carra™Lact, Carra™Gel, and Carra™Sol lines. Carrageenan products are used in food manufacturing to help improve texture, suspension, stability, gelling, mouthfeel, smoothness, and thickening. “We are excited to bring Gelymar’s extensive range of carrageenans to markets in North America and expanding as well as rounding out our portfolio of texturizing solutions. We believe the functionality and value proposition of their unique Kappa II and Lambda carrageenans will help meet the needs of our food and dairy customers,” said Kevin Hack, vice president of global food ingredients at Univar Solutions. “The Gelymar products in this exclusive agreement are synergistic with our current range of textural ingredient offerings and we look forward to helping expand Gelymar’s reach and bringing the distinctive value of these products to customers across the United States and Canada.” Univar Solutions is well positioned throughout the food ingredients market to provide differential value to customers through a consistent global approach across key industries and a worldwide footprint of technical solution centers as well as product portfolio, which complements Gelymar’s access to the world’s largest source of cold-water seaweed—the preferred raw material for Kappa II and Lambda carrageenan production. Gelymar is a worldwide producer of Kappa II and Lambda carrageenan from fresh seaweed. Andrés Hohlberg, CEO of Gelymar, added, “This exclusive partnership with Univar Solutions is a tremendous opportunity to expand our high-value and unique carrageenan solutions that we have marketed for decades. Together with Univar Solutions experienced sales and application development teams, we believe that we can bring a first-class experience to our customers, supporting their innovation and growth in the United States and Canada.” 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 Gelymar Gelymar is a textural solution leader for the food, pharmaceutical, and personal care industries. For more than 25 years, Gelymar has served the largest dairy, meat, and personal care companies worldwide, becoming a key player in the global hydrocolloids market. Privileged locations enable Gelymar to provide the safest, highest-quality and most cost-effective texture solutions, meeting each industry’s manufacturing demands while ensuring the protection and conservation of the environment. The team operates four manufacturing sites located in Chile and Indonesia, two product technology centers located in Chile and a worldwide distribution network in more than 50 countries. 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. | ||
Company Codes: NYSE:UNVR |
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