Univar Solutions and Climax Molybdenum Company Strengthen Lubricants Partnership with Exclusive Distribution Agreement into the Latin American Market

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17 Aug, 2023, 16:15 ET

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The expanded agreement builds on the existing strategic alliance between the companies in the United States and establishes Univar Solutions as Climax's primary distributor for noncontract Molysulfide® customers in the Americas

DOWNERS GROVE, Ill., Aug. 17, 2023 /PRNewswire/ -- Univar Solutions Inc. ("Univar Solutions" or "the Company"), a leading global solutions provider to users of specialty ingredients and chemicals, and Climax Molybdenum Company, the world's largest producer of molybdenum and molybdenum-based chemicals, today announced a geo-expansion of the companies' existing partnership for molybdenum products, including Molysulfide® used in greases and coatings applications.

Univar Solutions and Climax Molybdenum Company Announce Exclusive Distribution Agreement into the Latin American Market

"As a leading global distributor of specialty chemicals, we recognize the growing worldwide demand for high quality molybdenum products. Building upon our existing relationship and collaboration with Climax, expanding into new regions is a high priority as it expands our product offering and allows us to provide Climax's noncontract lubricants customers in the United States and Latin America reliable access to these key elements and chemistries," said Federico Montaner, global vice president of lubricants & metalworking fluids for Univar Solutions. "We look forward to continuing to work together to meet and exceed the highest standards for quality and dependable supply sourcing which our valued customers have come to expect and deserve."

Molysulfide® is a lubricant grade molybdenum disulfide (MoS2) and is available in three grades: Technical, Technical Fine, and Super Fine. Molybdenum complexes are soluble in petroleum oils and other organic solvents, increase load carrying capacity, and are increasingly used as anti-wear and extreme pressure additives, as well as friction reducing modifiers, in lubricating oils, specialized lubricating greases, and coatings. The additives form films on metal surfaces to protect against wear after base lubricants are removed by heat, pressure or motion, and are used in applications such as automotive chassis greases and tool joint compounds.

"As the only fully integrated domestic (U.S.) producer of molybdenum, Climax's global operations and local customer care provide our worldwide partners with the most reliable supply and highest quality molybdenum products," said Michael Kendrick, President-Climax Molybdenum Co. "We have developed a Responsible Care® Policy as part of our commitment to the Principles of Responsible Care® and to product and process safety, environmental stewardship, health, and security at our global operations. We're excited to expand our relationship with Univar Solutions, a company likewise committed to helping our mutual customers develop and bring forward more sustainable solutions now and into the future."

Univar Solutions' expansive portfolio contains quality chemistries that are used in the creation of metalworking fluid and coolant products such as base stocks and performance-enhancing additives sourced from the most reputable industry suppliers. No other chemical and ingredients distributor can match our breadth and depth of knowledge, premier product portfolio, experience, and reach. Whether operating on a global or regional level, Univar Solutions can consistently provide suppliers and customers with the latest comprehensive technical, regulatory, market trend, and sourcing support in lubricants and metalworking fluids.

For more information about Univar Solutions' lubricants and metalworking fluids business, visit univarsolutions.com/industries/lubricants-metalworking.

About Univar Solutions

Univar Solutions is a leading global 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.

About Climax Molybdenum Company

Climax Molybdenum Company is a subsidiary of Freeport-McMoRan and manufactures and markets molybdenum, rhenium, and other metal-based products. Founded in 1916, our global operations include both primary and byproduct molybdenum mines, which process the minerals into products used extensively by the steel, oil, chemical, automotive, aerospace, construction, and electronics industries. We leverage our distinctive metal-based production and process capabilities to offer specialty products that add value to our customers, are environmentally safe, and improve the quality of life of end users. We concentrate our sales in geographic markets with growing segments where our marketing and manufacturing expertise brings additional competitive advantages and value.

Forward-Looking Statements and Information

This communication contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as "believes," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates," "anticipates" or other comparable terms. All forward-looking statements made in this communication are qualified by this cautionary language.

Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. Potential factors that could affect such forward-looking statements include, among others: general economic conditions, particularly fluctuations in industrial production and consumption and the timing and extent of economic downturns; significant changes in the business strategies of producers or in the operations of customers; increased competitive pressures, including as a result of competitor consolidation; potential supply chain disruptions; significant changes in the pricing, demand and availability of chemicals; potential cybersecurity incidents, including security breaches; the Company's indebtedness, the restrictions imposed by, and costs associated with, its debt instruments, and its ability to obtain additional financing; the broad spectrum of laws and regulations that the Company is subject to, including extensive environmental, health and safety laws and regulations and changes in tax laws; an inability to generate sufficient working capital; transportation related challenges, including increases in transportation and fuel costs, changes in the Company's relationship with third party transportation providers, and ability to attract and retain qualified drivers; accidents, safety failures, environmental damage, product quality issues, delivery failures or hazards and risks related to its operations and the hazardous materials it handles; potential inability to obtain adequate insurance coverage; ongoing litigation, potential product liability claims and recalls, and other environmental, legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; an inability to integrate the business and systems of companies it acquires, including failure to realize the anticipated benefits of such acquisitions; possible impairment of goodwill and intangible assets; its ability to attract or retain a qualified and diverse workforce; negative developments affecting its pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of its workforce; its ability to execute on its initiatives and goals related to environmental, social, and governance ("ESG") matters and the increasing legal and regulatory focus on ESG; the impacts resulting from the conflict in Ukraine or related geopolitical tensions; the ability of the Company to successfully recover from a disaster or other business continuity problem due to a hurricane, flood, earthquake, terrorist attack, war, conflict, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made event, including the ability to function remotely during long-term disruptions such as the COVID-19 pandemic; the impact of public health crises, such as pandemics (including the COVID-19 pandemic) and epidemics and any related Company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets, including any quarantine, "shelter in place," "stay at home," workforce reduction, social distancing, shut down or similar actions and policies; actions by third parties, including government agencies; and the other factors described in the Company's filings with the SEC. For additional information concerning factors that could cause actual results and events to differ materially from those projected herein, please refer to the Company's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and to other documents filed by the Company with the SEC. We caution you that the forward-looking information presented in this communication 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 communication.

Any forward-looking statements represent the Company's views only as of the date of this communication and should not be relied upon as representing the Company's views as of any subsequent date, and the Company undertakes no obligation, other than as may be required by law, to update any forward-looking statement.

SOURCE Univar Solutions Inc.