Univar has agreed to sell the plastics distribution of Nexeo Solutions to One Rock Capital Partners. This is expected to close within 1H 2019 and net cash proceeds of about $615 million will be used to pay down debt. Both boards have approved the transaction.

Some of the world’s largest chemicals firms have helped to found the Alliance to End Plastic Waste (AEPW), which describes itself as “an alliance of global companies from the plastics and consumer goods value chain … to advance solutions to eliminate plastic waste in the environment, especially in the ocean”.