Univar Solutions and Dow Expand Global Relationship with Lubricants & Metalworking Fluids Agreement in Mainland China and Hong Kong
Customers will have access to select Dow UCON™ polyalkylene glycol (PAG)-based synthetic products for more environmentally conscious alternatives to conventional base oils.
DOWNERS GROVE, Ill, April 7, 2022 /PRNewswire/ -- Univar Solutions China Limited, a subsidiary of 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 extension of its relationship with Dow in connection with UCON PAG-based synthetic products in China.
Agreement Highlights
- Builds on the long-term relationship in North America, Latin America and Europe, creating a truly global partnership.
- Strengthens Univar Solutions' portfolio in China with the addition of Dow's UCON PAG-based synthetic base fluids and underscores Univar Solutions' efforts to organically grow with its key partners in Asia Pacific.
- Demonstrates Univar Solutions' work to grow and expand its global footprint in the lubricants and metalworking fluids industry.
- PAG-based fluids and lubricants offer a high level of flexibility not possible with natural and mineral-based oils and lubricants. UCON products can also help reduce wear and extend the service life of industrial, mobile, marine and other equipment, further enhancing their environmental friendliness.
"Our strategic relationship with Dow allows us to provide customers with access to a robust portfolio of industrial product components. As the largest distributor of Dow's Lubricants & Metalworking Fluids ingredients, we're thrilled that our relationship has expanded into mainland China and Hong Kong, enabling us to offer these chemistries across the globe," said Federico Montaner, global vice president, Lubricants & Metalworking Fluids for Univar Solutions. "Working side by side as valued and trusted partners, we're committed to staying ahead of market trends and regulatory shifts to support the multifaceted needs of customers in the lubricants and metalworking markets."
Univar Solutions has worked alongside Dow for more than 30 years, helping to provide customers with innovative products, formulation know-how, supply chain services, sustainable solutions and expertise for Lubricants & Metalworking Fluids to help accelerate the time to market. By leveraging global industry expertise with local technical, sales and marketing resources, Univar Solutions is a valued and trusted partner to customers and suppliers worldwide.
"With the strength of our global network, we're continuously working to find solutions, accelerate innovation and advance product development for customers in mainland China and Hong Kong," said Myron Li, general manager, China and Southeast Asia for Univar Solutions. "Through our global team of technical, sales, marketing and application development experts, we're able to holistically serve customers whenever and wherever needed in a range of important industries."
Learn more about the longtime global relationship between Univar Solutions and Dow.
About Dow
Dow combines global breadth; asset integration and scale; focused innovation and materials science expertise; leading business positions; and environmental, social and governance (ESG) leadership to achieve profitable growth and deliver a sustainable future. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company in the world. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer applications. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global commodity and specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, 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. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at univarsolutions.com.
Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions 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. 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 ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; 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; 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 Solutions, Inc., 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.
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SOURCE Univar Solutions Inc.
