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Univar (UNVR) Inks Exclusive Distribution Deal With Novozymes
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Univar Solutions, Inc. and Novozymes recently announced an agreement to expand their existing partnership into the U.S. and Canadian homecare, industrial cleaning, and beverages markets. This will be effective from Apr 1, 2021.
The expanded relationship signifies a shared dedication toward providing customers with a portfolio of ingredients designed to improve product performance. It will also enhance solutions that have the potential to bring more sustainable products to the homecare, industrial cleaning and beverages markets through better performing formulations.
The usage of next-generation biological solutions through leading enzyme and microbial innovations instead of traditional chemicals will enable customers in the homecare and industrial cleaning and beverage ingredient sectors to meet sustainability goals as well as better capitalize on consumer demand.
Univar and Novozymes are collaborating at the intersection of science and technology to fulfill their purpose of keeping communities healthy, fed, clean and safe. The companies are committed toward delivering high quality, sustainable ingredients and technical expertise for the customers, Univar noted.
The latest distribution agreement adds to the companies’ existing partnership in Europe. Novozymes will work with the Univar Solutions flagship solution center in Houston, TX, which is home to a global centre of excellence for innovation in the homecare and industrial cleaning industry.
Shares of Univar have surged 142.4% in the past year compared with 118.6% rise of the industry.
The company, on 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.
Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , Ashland Global Holdings Inc. (ASH - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal year. The company’s shares have surged 187.1% 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 122.2% 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 rallied 494.7% in the past year. It currently flaunts a Zacks Rank #1.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Univar (UNVR) Inks Exclusive Distribution Deal With Novozymes
Univar Solutions, Inc. and Novozymes recently announced an agreement to expand their existing partnership into the U.S. and Canadian homecare, industrial cleaning, and beverages markets. This will be effective from Apr 1, 2021.
The expanded relationship signifies a shared dedication toward providing customers with a portfolio of ingredients designed to improve product performance. It will also enhance solutions that have the potential to bring more sustainable products to the homecare, industrial cleaning and beverages markets through better performing formulations.
The usage of next-generation biological solutions through leading enzyme and microbial innovations instead of traditional chemicals will enable customers in the homecare and industrial cleaning and beverage ingredient sectors to meet sustainability goals as well as better capitalize on consumer demand.
Univar and Novozymes are collaborating at the intersection of science and technology to fulfill their purpose of keeping communities healthy, fed, clean and safe. The companies are committed toward delivering high quality, sustainable ingredients and technical expertise for the customers, Univar noted.
The latest distribution agreement adds to the companies’ existing partnership in Europe. Novozymes will work with the Univar Solutions flagship solution center in Houston, TX, which is home to a global centre of excellence for innovation in the homecare and industrial cleaning industry.
Shares of Univar have surged 142.4% in the past year compared with 118.6% rise of the industry.
The company, on 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-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 - Free Report) , Ashland Global Holdings Inc. (ASH - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal year. The company’s shares have surged 187.1% 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 122.2% 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 rallied 494.7% in the past year. It currently flaunts a Zacks Rank #1.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>