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ICP Group has appointed Chris Pappas to its Board of Directors, bringing extensive experience in specialty chemicals, coatings, and adhesives. Pappas, former CEO of Trinseo and former board member at FirstEnergy (NYSE: FE) and chairman at Univar (NYSE: UNVR), aims to guide ICP’s growth strategy. CEO Doug Mattscheck expressed confidence in Pappas enhancing the company's market position through organic growth and acquisitions, as ICP expands its leading platform in the coatings and adhesives industry.
Univar Solutions (NYSE: UNVR) has partnered with Solvay to distribute agrochemical products in Brazil, marking Solvay's first distribution agreement in this sector. This collaboration aims to enhance productivity in Brazil's agricultural market, responding to the growing demand for crop protection and sustainable farming. Univar Solutions will provide technical support and access to a diverse product range, including bio-pesticides. With global food production needing a 70% increase by 2050, innovative agricultural solutions are more crucial than ever.
Univar Solutions announced the construction of a new facility in Abbotsford, British Columbia, aimed at achieving net-zero emissions by 2050. Expected to open in the first half of 2023, this custom-designed, SAP-ready site will enhance logistics and product delivery while adhering to the latest emission standards. The facility will feature larger storage, rail capacity, and advanced safety measures, reinforcing the company's commitment to sustainability. Vice President Chris Halberg emphasized its role in supporting local demand and improving operational efficiency.
Univar Solutions (NYSE: UNVR) reported second-quarter 2021 results showing a significant increase in net income to $153.2 million from $1.8 million year-over-year. Adjusted earnings per diluted share rose to $0.57, up from $0.33, with Adjusted EBITDA of $197.5 million, a 21.0% increase. Total consolidated net sales reached $2.4 billion, marking a 19.2% growth. Despite a decrease in net cash provided by operating activities to $83.7 million, the outlook for Adjusted EBITDA guidance for the full year has been raised to between $705 million and $725 million.
Univar Solutions (NYSE: UNVR) announced an expanded partnership with Dow to enhance their Beauty & Personal Care product offerings in mainland China. This agreement allows Univar to leverage its extensive distribution network and local market expertise to better serve customers in China and Asia Pacific. With over 30 years of collaboration, Univar Solutions aims to provide innovative ingredients and formulation know-how, emphasizing its commitment to customer satisfaction and market growth.
Univar Solutions (NYSE: UNVR) announced plans to report its second quarter financial results on August 2, 2021, after market close. A news release will be issued simultaneously with a slide presentation available on the investor relations website. A webcast to discuss the results is scheduled for 9:00 a.m. ET on August 3. Univar Solutions is a global chemical distributor, offering value-added services and tailored solutions across multiple industries.
Univar Solutions (NYSE: UNVR) has expanded its distribution agreement with Tata Chemicals Ltd, becoming the exclusive distributor of Tata's prebiotic dietary fibers, FOSSENCE® and GOSSENCE®, in the Eastern and Central United States. This partnership aims to enhance offerings for food and nutraceutical manufacturers, aligning with health and wellness trends. The products, developed through Tata's proprietary fermentation technology, support the growth of healthy microbiomes and are applicable in various food industries. This collaboration underscores Univar's commitment to innovation and customer service in the North American market.
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Univar Solutions (NYSE: UNVR) has expanded its agreement with Ingredion to exclusively distribute PureCircle's plant-based stevia products across select European countries. This partnership, cultivated over more than 20 years, enhances Univar's portfolio of specialty food ingredients that cater to various applications including beverages and dairy alternatives. PureCircle's stevia offerings, derived from its proprietary Starleaf™ plant, promise to meet the growing consumer demand for sustainable and healthier ingredients.
Univar Solutions reported a strong first quarter of 2021, with net income rising to $66.2 million, up from $55.9 million year-on-year. Adjusted net income reached $73.6 million, while earnings per diluted share increased to $0.39 from $0.33. The company raised its full-year Adjusted EBITDA guidance to $680-$700 million, up from $635.8 million in 2020. Although net sales declined 2.5% to $2.155 billion, gross profit increased 1.8%. Segment performance varied, with EMEA and LATAM showing growth, while the USA and Canada faced challenges.