Univar Inc.’s (UNVR - Free Report) subsidiary — Univar Hellas Ltd. — announced that Dow Europe GmbH, a unit of The Dow Chemical Company, has expanded the distribution of Dow beauty care specialties organic product range by Univar Solutions in Greece.
The move reflects an extended deal with Dow, which enables Univar to boost its offering for the beauty and personal care market. Through this deal, Univar will market and sell the complete range of Dow's personal care specialty ingredients in Greece.
In addition to DOWSIL, Univar’s line of Dow products includes ACUDYNE hair styling polymers, SUNSPHERES SPF boosters, ECOSENSE surfactants, POLYOX resins and SOFTCAT conditioning polymers among many others.
Univar stated that it is pleased to expand the agreement with Dow in strategic market segment as the company continues to focus on strong technical expertise supported by local commercial execution.
Univar's shares have lost 21.8% in the past year compared with the industry’s 15.2% decline.
Earlier this month, the company provided an update for 2019 outlook that reflects the recently-completed acquisition of Nexeo Solutions, Inc, which was closed on Mar 1, 2019.
For 2019, Univar expects adjusted EBITDA between $740 million and $760 million on a combined basis. The projected figure reflects 10-months earnings from the Nexeo Chemicals business and realized synergies worth roughly $10 million. it expects to generate $300-$350 million in free cash flow, before one-time integration costs of around $70 million.
Zacks Rank & Key Picks
Univar currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the basic materials space are Kirkland Lake Gold Ltd. (KL - Free Report) , Ingevity Corp. (NGVT - Free Report) and Materion Corp. (MTRN - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kirkland has an expected earnings growth rate of 8.8% for 2019. The company’s shares have surged 118.8% in the past year.
Ingevity has an expected earnings growth rate of 17.9% for the current year. The company’s shares have rallied 40.7% in a year’s time.
Materion has an expected earnings growth rate of 12.6% for 2019. Its shares have gained 5.4% in a year’s time.
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