Univar Solutions, the world’s second largest chemical distributor, has announced its Streamline 2022 (S22) programme. This may lead to the sale of over $200 million in non-core assets and Univar will incur up to an incremental $50 million in charges in 2020 to implement it. The stated aims of S22 are to improve operational agility, drive faster sales growth, particularly in North America, reduce leverage to 3.0x by the end of 2021 and improve EBITDA margins to 9% by the end of 2022.
Feature article - Three ways the chemicals & materials industry can benefit from digital transformation
Dr Nina Kaun, product director, chemical industry solutions, at Elsevier, looks at how the Covid-19 pandemic could help to drive digitalisation
While many industries have taken advantage of technology developments in recent years, the chemicals and materials sector has been slower to digitalise. This attitude is now changing: 87% of chemicals and materials executives believe companies will ‘lose their edge’ or ‘face extinction’ unless they embrace digital transformation, including adopting more automation and applying artificial intelligence (AI) to some processes.
Industrial gases giant Air Liquide and semiconductor producer STMicroelectronics have announced plans to “engage in a collaborative initiative to accelerate the development of digital solutions for industrial applications”. ST is already a customer to Air Liquide for gas, materials and equipment at multiple sites.