Univar Solutions Announces Debt Repayment and Saccharin Settlement

DOWNERS GROVE, Illinois., April 3, 2019 / PRNewswire / – Univar Inc. (NYSE: UNVR) (“Univar Solutions” or “The Company”) today announced that it has repaid its debt following the recently completed divestiture of Nexeo’s Plastics business. Separately, the Company has entered into an agreement to resolve a previously disclosed matter with the United States Department of Justice (the “DOJ”) relating to saccharin.

As previously announced, the March 29, 2019, Univar Solutions has sold its plastics distribution business to a subsidiary of One Rock Capital Partners, LLC for $ 640 million, subject to customary closing adjustments. At April 3, 2019, the cash proceeds of the transaction were applied to the outstanding debt balances.

Additionally, Univar Solutions has entered into a settlement agreement in a previously disclosed case with the DOJ regarding entries of saccharin allegedly transhipped from the People’s Republic of China (“China“) through the Republic of China (“Taiwan“) and traded in United States between 2007 and 2012. Under the settlement, Univar Solutions agreed to pay $ 62.5 million to completely solve the problem. The Company accepts no responsibility and the DOJ will dismiss the complaint in its entirety.

About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global distributor of chemicals and ingredients and a provider of value-added services to customers in a wide range of industries. With the industry’s largest private transportation fleet and North American sales force, an extensive supplier network, in-depth market and regulatory knowledge, world-class recipe formulation and development, -Making unparalleled logistics and cutting-edge digital tools, Univar Solutions is an ally to customers and suppliers, helping them anticipate, navigate and take advantage of significant growth opportunities. Learn more about www.univarsolutions.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act 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 our control. We caution you that the forward-looking information presented in this press release does not constitute a guarantee of future events and that actual events may differ materially from those contained or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements can generally be identified by the use of forward-looking terms such as “may”, “plan”, “seek”, “be comfortable with”, “will”, “expect”, “Intend”, “estimate”, “anticipate”, “believe” or “continue” or their negative or their variations or similar terminology. Any forward-looking information presented here is made only as of the date of this press release, and we assume no obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unforeseen events or otherwise. .

SOURCE Univar Inc.

Related links

https://www.univarsolutions.com