Univar sees minimal Damage at its Facilities but expects negative near term financial Impact
Global chemical distributor Univar Inc. (Downers Grove, IL – United States) earlier this week reported that all Univar employees in the area are accounted for and safe at the time (29. August 2017).
“While most Univar facilities have incurred minimal damage, limited access has prevented the completion of a full assessment. Operations in the area are restricted due to the state of emergency in effect. Highways, rail lines and shipping lanes are closed, and Univar employees are unable to travel safely to the Company’s sites. Univar expects that Hurricane Harvey will significantly disrupt customer and supplier production both in the immediate area and throughout the U.S.”
Univar also said, the storm “will have an adverse impact on near-term results”. Preliminarily estimates would suggest that business disruptions from Hurricane Harvey may reduce third quarter Adjusted EBITDA by US$10 to 25 mn from its previously communicated expectations. Depending on the duration of the disruptions, fourth quarter results could also be affected, the statement said.
Source:Univar press release
HGE – DCG / 31.08.2017