Univar Solutions Inc. (UNVR - Free Report) has been appointed as the distributor of wax products by Poth Hille & Co., Ltd. throughout Russia, Turkey, Europe and Ukraine.
The portfolio to be distributed by Univar consists of a broad range of natural and conventional waxes for skincare and cosmetic products. Notably, the addition will expand the company’s comprehensive offering of personal care and beauty products throughout the region.
Per Univar’s management, the distribution deal will help Poth Hille to expand their wax-based solutions to a broader geographical region. Moreover, it expects to bring the waxes into Europe, moving ahead.
Univar’s local product knowledge, extensive distribution network and comprehensive technical support are expected to offer a great opportunity to create new wax-based solutions on rising demand for certified natural, bio-based, plant-based and renewable ingredients, providing even greater value to customers.
The company’s shares have lost 17.3% over a year compared with a 14.5% decline recorded by its industry.
Univar, on its first-quarter earnings call, withdrew its 2020 adjusted EBITDA guidance on the impacts of the coronavirus outbreak.
Moreover, for 2020, the company reduced its expected capital expenditure to $95-$115 million from $120-$130 million.
Univar Inc. Price and Consensus
Zacks Rank & Stocks to Consider
Univar currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the basic materials space are Agnico Eagle Mines Limited (AEM - Free Report) , AngloGold Ashanti Limited (AU - Free Report) and Franco-Nevada Corporation (FNV - Free Report) .
Agnico Eagle currently sports a Zacks Rank #1 (Strong Buy) and has a projected earnings growth rate of 53.6% for 2020. The company’s shares have gained 15.1% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
AngloGold Ashanti has an expected earnings growth rate of 112.1% for 2020. The company’s shares have gained 43.6% in the past year. It presently flaunts a Zacks Rank #1.
Franco-Nevada has a projected earnings growth rate of 19.2% for the current year. The company’s shares have rallied around 55% in a year. It currently has a Zacks Rank #2 (Buy).
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