Market Newsdesk

BUENOS AIRES, Argentina, Nov. 24, 2020 /PRNewswire/ — Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) (“BBVA Argentina” or “BBVA” or “the Bank”) announced today its consolidated results for the third quarter (3Q20), ended on September 30, 2020.

As of January 1, 2020, the Bank started to inform its inflation adjusted results pursuant to IAS 29 reporting. To facilitate comparison, figures of comparable quarters of 2019 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to September30, 2020.

3Q20 Highlights

• BBVA Argentina’s inflation adjusted net income in 3Q20 was $2.83 billion, 2.9% greater than the $2.75 billion reported in the second quarter of 2020 (2Q20) and 65.4% lower than the $8.19 billion reported in the third quarter of 2019 (3Q19).
• In 3Q20, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 1.9% and an inflation adjusted average return on equity (ROAE) of 11.0%.
• In terms of activity, total consolidated financing to the private sector in 3Q20 totaled $258.6 billion, contracting in real terms 4.1% compared to 2Q20, and 10.6% compared to 3Q19. In the quarter, contraction was driven by the fall in overdrafts and loans for the prefinancing and financing of exports which decreased 41.0% and 27.6% respectively, partially offset by an increase in pledge loans, discounted instruments and credit cards, growing 17.1%, 15.7% and 10.8% respectively. BBVA’s consolidated market share of private sector loans was 8.25% as of 3Q20.
• Total deposits contracted 0.6% in real terms during the quarter, and expanded 6.5% in the year. The Bank’s consolidated market share of private deposits was 6.48% as of 3Q20.
• As of 3Q20, the non-performing loan ratio (NPL) reached 1.16%, with a 355.26% coverage ratio.
• The accumulated efficiency ratio in 3Q20 was 58.0%, above 2Q20’s 54.7%.
• As of 3Q20, BBVA Argentina reached a regulatory capital ratio of 23.3%, entailing a $61.9 billion or 184.5% excess over minimum regulatory requirement. Tier I ratio was 22.6%. Total liquid assets represented 66.0% of the Bank’s total deposits as of 3Q20.

3Q20 Conference Call

Wednesday, November 25, 2020. At 12:00 p.m.Buenos Aires time – (10:00 a.m. EST)
To participate, please dial in:
+1-844-450-3851 (US Toll-Free) 
+1-412-317-6373 (International)  
+54-11-3984-5677 (Argentina) 
Web Phone: click here 
Conference ID: BBVA 
Webcast & Replay: click here

To access the full report please
 click here

About BBVA Argentina

BBVA Argentina (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) is a subsidiary of the BBVA Group, the main shareholder since 1996. In Argentina, it is one of the leading private financial institutions since 1886. Nationwide, BBVA Argentina offers retail and corporate banking to a broad customer base, including: individuals, SME’s, and large-sized companies.

BBVA Argentina’s purpose is to bring the age of opportunities to everyone, based on our customers’ real needs, providing the best solutions, and helping them make the best financial decisions through an easy and convenient experience. The institution relies on solid values: “The customer comes first, We think big and We are one team”. At the same time, its responsible banking model aspires to achieve a more inclusive and sustainable society.

Investor Relations contact

Ernesto Gallardo

Chief Financial Officer 
Inés Lanusse 
Investor Relations Officer
[email protected] 
ir.bbva.com.ar

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SOURCE Banco BBVA Argentina S.A.

EASTON, Md., Nov. 24, 2020 /PRNewswire/ — Shore Bancshares, Inc. (“the Company”) (NASDAQ:SHBI) announced today that it had received a non-objection letter from the Federal Reserve Bank of Richmond to allow the Company to repurchase its common stock. Under the new repurchase program, management is authorized to repurchase up to $5.0 million of the Company’s common stock. As of November 24, 2020, the Company had 12,036,573 outstanding shares of common stock. The program may be limited or terminated at any time without prior notice. The program will expire on December 31, 2021.

The newly-approved stock repurchase program follows the Company’s prior stock repurchase program, which was approved in April 2019 and authorized the repurchase of up to $10.0 million of common stock. In connection with the prior stock repurchase program, which concluded in the fourth quarter of 2020, the Company purchased an aggregate of 772,971 shares of its common stock for aggregate cash consideration of $9.9 million.

Lloyd L. “Scott” Beatty, Jr., President and Chief Executive Officer stated, “We are pleased to announce that we have been authorized to begin a new common stock repurchase program. We feel at the present time this is a prudent use of our excess liquidity while maintaining our strong capital levels. The Company continues to record solid earnings, reductions in nonperforming assets and organic growth in both loans and deposits which we believe has not been reflected in our current stock price. With our common stock trading below tangible book value, we see this as an opportunity to put this capital to good use while creating long-term shareholder value.”

Under the new stock repurchase program, shares of common stock may be repurchased by the Company from time to time in open market transactions or in privately negotiated transactions as permitted under applicable rules and regulations. Repurchases may be conducted, suspended, or terminated at any time without notice. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other considerations as may be considered in the Company’s sole discretion. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 under the Securities  Exchange Act of 1934, as amended, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions.

Shore Bancshares Information
Shore Bancshares is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company located on Maryland’s Eastern Shore. It is the parent company of Shore United Bank. Shore Bancshares engages in trust and wealth management services through Wye Financial & Trust, a division of Shore United Bank. Additional information is available at www.shorebancshares.com.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Shore Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

The Company specifically disclaims any obligation to update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

 

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SOURCE Shore Bancshares, Inc.

BEIJING, Nov. 24, 2020 /PRNewswire/ — China Biologic Products Holdings, Inc. (NASDAQ: CBPO, “China Biologic” or the “Company”), a leading fully integrated plasma-based biopharmaceutical company in China, today announced its unaudited financial results for the third quarter of 2020.

Third Quarter 2020 Financial Highlights

• Total sales in the third quarter of 2020 increased by 0.8% in RMB terms and 1.8% in USD terms to $138.5 million from $136.1 million in the same quarter of 2019.
• Gross profit increased by 4.4% to $92.5 million from $88.6 million in the same quarter of 2019. Gross margin increased to 66.8% from 65.1% in the same quarter of 2019.
• Income from operations decreased by 1.9% to $52.0 million from $53.0 million in the same quarter of 2019. Operating margin decreased to 37.5% from 38.9% in the same quarter of 2019.
• Non-GAAP adjusted income from operations increased by 11.7% in RMB terms and 12.8% in USD terms to $69.4 million from $61.5 million in the same quarter of 2019.
• Net
  income
   attributable to the Company decreased by 16.0% to $39.5 million from $47.0 million in the same quarter of 2019. Diluted earnings per share decreased to $0.99 compared to $1.21 in the same quarter of 2019. 
• Non-GAAP adjusted net income attributable to the Company increased by 0.2% in RMB terms and 1.3% in USD terms to $55.1 million from $54.4 million in the same quarter of 2019. Non-GAAP adjusted earnings per diluted share was $1.39 compared to $1.40 in the same quarter of 2019. 

NOTE: Detailed financial statements and information are available through this link:  https://mma.prnewswire.com/media/1341457/China_Biologic_Third_Quarter_2020_Financial_Results.pdf

“This quarter China Biologic reported an encouraging rebound in revenue from the second quarter and a slight increase on a year-over-year basis, reflecting our efforts to regain sales momentum following the COVID-19 disruption,” said Joseph Chow, Chairman and CEO of China Biologic. “Thanks to recent measures to improve sales and marketing efficiencies, we recorded non-GAAP operating income growth of nearly 12% over the same quarter last year. During the quarter we further optimized our commercial team structure, enhanced our medical marketing support function, implemented a multidimensional evaluation system for staff performance and established better incentive and compensation structures. These strategic initiatives position us to cope with ongoing pandemic-related macro-uncertainties as well as potentially intensifying market competition, in the face of a short-term decline in demand and supply surge as observed in our peer companies’ recent batch approval records.”

“Beyond sales and marketing, our long term growth initiatives, including construction of new plasma collection stations and R&D projects, are well on track. We are pleased to report that our newly built collection station in Chongqing city recently passed official inspection with commercial operations to commence soon, and two new collection stations in Shandong province are expected to commercially launch in early 2021. With the continuing expansion of our plasma collection capacity and progress in our product pipeline, CBPO is well positioned to meet the increasing market demands for plasma protein therapeutics in China in the coming years.”

Recent Development

As previously announced, on November 19, 2020, the Company entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with CBPO Holdings Limited (“Parent”) and CBPO Group Limited (“Merger Sub”), a wholly owned subsidiary of Parent, which contemplates that Merger Sub will merge with and into the Company, with the Company continuing as the surviving entity and becoming a wholly-owned subsidiary of Parent.

Pursuant to the Merger Agreement, at the effective time of the merger, each ordinary share of the Company issued and outstanding immediately prior to the effective time of the merger will be cancelled and cease to exist in exchange for the right to receive $120.00 in cash without interest, except for Excluded Shares and Dissenting Shares (each as defined in the Merger Agreement). If completed, the merger will result in the Company becoming a privately-held company and its shares will no longer be listed on the NASDAQ Global Select Market.

The closing of the merger is currently expected to occur during the first half of 2021 and is subject to customary closing conditions, including, among others, (i) that the Merger Agreement shall be authorized and approved by an affirmative vote of shareholders representing at least two-thirds of the ordinary shares of the Company present and voting in person or by proxy at an extraordinary general meeting of the Company’s shareholders and (ii) that the aggregate amount of dissenting shares shall be less than 8% of the total outstanding ordinary shares of the Company immediately prior to the effective time of the merger.

The Company does not undertake any obligation to provide any update with respect to the merger or any other transaction, except as required under applicable law.

Conference Call

The Company’s management will hold a conference call at 7:30 a.m. ET on Wednesday, November 25, 2020, which is 8:30 p.m. Beijing Time on November 25, 2020, to discuss third quarter 2020 results. Listeners may access the call by dialing:

US:                               1 888 346 8982
International:                1 412 902 4272
Hong Kong:                  800 905945
Mainland China:           4001 201203

A telephone replay will be available one hour after the conclusion of the conference call through December 2, 2020. The dial-in details are:

US:                           1 877 344 7529
International:            1 412 317 0088
Passcode:                10149967

A live and archived webcast of the conference call will be available through the Company’s investor relations website at http://chinabiologic.investorroom.com/.

About China Biologic Products Holdings, Inc.

China Biologic Products Holdings, Inc. (NASDAQ: CBPO) is a leading fully integrated plasma-based biopharmaceutical company in China. The Company’s products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products through its indirect majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd. and its wholly owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi’an Huitian Blood Products Co., Ltd. Since the acquisition of TianXinFu (Beijing) Medical Appliance Co., Ltd. in 2018, China Biologic is also engaged in the sale of medical devices, primarily regenerative medical biomaterial products. The Company sells its products to hospitals, distributors and other healthcare facilities in China. For additional information, please see the Company’s website www.chinabiologic.com.

Contact:    

China Biologic Products Holdings, Inc.
Mr. Ming Yin
Senior Vice President
Email: [email protected]

The Foote Group
Mr. Philip Lisio
Phone: +86-135-0116-6560
Email: [email protected]

Non-GAAP Disclosure

This news release contains non-GAAP financial measures that exclude non-cash compensation expenses related to restricted shares and restricted share units granted to employees and directors under the Company’s Equity Incentive Plans and amortization of acquired intangible assets and land use rights. To supplement the Company’s unaudited consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release. The Company’s management believes that its presentation of non-GAAP financial measures provides useful supplementary information to and facilitates additional analysis by investors. A reconciliation of the adjustments to GAAP results appears in the table accompanying the detailed financial statements and information available through the link in the notes of this news release. This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies.

In addition, as the Company evaluates certain key items of its financial results on a local currency basis (i.e., in RMB) in addition to the reporting currency (i.e., in USD), this news release contains local currency information that eliminates the impact of fluctuations in foreign currency exchange rates. The Company believes that, given its operations primarily based in China, providing local currency information on such key items enhances the understanding of its financial results and evaluation of performance in comparison to prior periods. Changes in local currency percentages are calculated by comparing financial results denominated in RMB from period to period.

Safe Harbor Statement

This news release may contain certain “forward-looking statements” relating to the business of China Biologic Products Holdings, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein, are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “intend,” “believe,” “expect,” “are expected to,” “will,” or similar expressions, and involve known and unknown risks and uncertainties. Among other things, the management’s quotations and forecast of the Company’s financial performance in this news release contain forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect.

Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, without limitation, the occurrence of any event, change or circumstance that could give rise to the right of the Company or Parent to terminate the Merger Agreement, the ability to obtain the approval of the Merger Agreement by the shareholders of the Company, a delay in the closing of the merger, quality of purchased source plasma, potential delay or failure to complete construction of new collection facilities, potential inability to pass government inspection and certification process for existing and new facilities, potential inability to achieve the designed collection capacities at the new collection facilities, potential inability to achieve the expected operating and financial performance, potential inability to find alternative sources of plasma, potential inability to increase production at permitted sites, potential inability to mitigate the financial consequences of a temporarily reduced raw plasma supply through cost cutting or other efficiencies, and potential additional regulatory restrictions on its operations and those additional risks and uncertainties discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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SOURCE China Biologic Products Holdings, Inc.

ORLANDO, Fla., Nov. 24, 2020 /PRNewswire/ — Xenia Hotels & Resorts, Inc. (NYSE: XHR) (“Xenia” or the “Company”) today announced it has completed the previously announced dispositions of the 245-room Hotel Commonwealth in Boston, Massachusetts for $113.0 million, or approximately $461,000 per key, and the 492-room Renaissance Austin Hotel in Austin, Texas for $70.0 million, or approximately $142,000 per key. In addition to the sale proceeds, the Company retained a total of $6.6 million in cash that was held in the properties’ FF&E reserves.

“We are pleased to have completed both of these transactions in an efficient manner,” commented Marcel Verbaas, Xenia’s Chairman and Chief Executive Officer. “Year to date, we have now sold four hotels for nearly $400 million. These dispositions have allowed us to efficiently raise a significant amount of capital at a superior cost to other alternatives. Additionally, we have successfully increased our balance sheet flexibility to help position the Company to be opportunistic as the recovery takes hold.”

The sale price for Hotel Commonwealth represented an 11.8x multiple on the hotel’s 2019 Hotel EBITDA, while the Renaissance Austin’s sale price represented a 6.8x multiple on its 2019 Hotel EBITDA. Including the dispositions of Residence Inn Boston Cambridge and Marriott Napa Valley Hotel & Spa, which were both completed in October, the combined sale prices of the four properties sold by the Company in 2020 represented an approximately 10x multiple on 2019 Hotel EBITDA.

“Our high-quality portfolio has afforded us the opportunity to create meaningful additional liquidity and balance sheet flexibility as the COVID-19 pandemic has profoundly impacted our Company and the lodging industry as a whole,” continued Mr. Verbaas. “The sale of Hotel Commonwealth at a highly attractive valuation, particularly given the current uncertain operating environment, is representative of the value embedded in our portfolio. Meanwhile, the sale price for Renaissance Austin reflects its dependence on corporate and group demand which have been severely affected by the pandemic, as well as the hotel’s substantial near-term capital needs and its location in a market where a significant number of higher-quality and better-located hotels have opened in recent years. Having completed the most recent renovations to the hotel’s guest rooms and the majority of its public and meeting space almost 8 years ago, we believe the sale of this non-strategic hotel, which achieved the second-lowest RevPAR in our portfolio in 2019, was the most prudent course of action at this time.  With our recently completed dispositions and additional balance sheet activity, we believe we have taken the right steps during this pandemic to position the Company for future growth.”

Proceeds from the sales will be utilized to repay borrowings under the Company’s line of credit and for general corporate purposes.

About Xenia Hotels & Resorts, Inc.

Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States. The Company owns 35 hotels comprising 10,012 rooms across 15 states.  Xenia’s hotels are in the luxury and upper upscale segments, and operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton, and The Kessler Collection. For more information on Xenia’s business, refer to the Company website at www.xeniareit.com.

This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended . You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the status and outcome of certain asset sale transactions, the suspension of operations at our hotel properties, the anticipated impact of the COVID-19 pandemic on travel, transient and group demand, and the anticipated impact of such pandemic on our results of operations. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These risks and uncertainties include, but are not limited to, the effects of the COVID-19 pandemic, including on the demand for travel, transient and group business (including, but not limited to, government-imposed travel or meeting restrictions), and levels of consumer confidence in the safety of travel as a result of the pandemic; the length of the COVID-19 pandemic and severity of such pandemic in the United States; the pace of economic recovery and the recovering of consumer confidence following the COVID-19 pandemic; our ability to implement cost-containment strategies; the adverse effects of the COVID-19 pandemic on our business or the market price of our common stock; our ability to service, restructure or refinance our debt; our ability to be in compliance with our debt covenants; our ability to access capital on acceptable terms or at all and uncertainty in both the debt and equity capital markets; and the outcome of legal proceedings or other disputes. Other factors that could cause results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020 and its Current Reports on Form 8-K. Except as required by law, the Company does not undertake, and hereby disclaims, any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

For additional information or to receive press releases via email, please visit our website at www.xeniareit.com.

 

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SOURCE Xenia Hotels & Resorts, Inc.

BOSTON, Nov. 24, 2020 /PRNewswire/ — Stealth BioTherapeutics Corp (Nasdaq: MITO) (“Stealth” or the “Company”), a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced the closing of its previously announced registered direct offering of 2,844,446 of its American Depositary Shares (“ADSs”), each ADS representing 12 ordinary shares of the Company.  The purchase price for one ADS was $1.125.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds from this offering were approximately $3.2 million.

The ADSs described above were offered pursuant to a “shelf” registration statement (File No. 333-237542) filed with the Securities and Exchange Commission (SEC) and declared effective on April 10, 2020. The ADSs were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering of the ADSs were filed with the SEC on November 20, 2020. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering of ADSs may be obtained on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: [email protected] or by telephone: (646) 975-6996.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Stealth

We are a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction. Mitochondria, found in nearly every cell in the body, are the body’s main source of energy production and are critical for normal organ function.

Investor Relations 

Stern Investor Relations
Janhavi Mohite, 212-362-1200
[email protected]

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SOURCE Stealth BioTherapeutics Inc.

Agreement includes f
ragrances compliant with the U.S. EPA Safer Choice program for more environmentally preferred “green” cleaning formulations.

DOWNERS GROVE, Ill., Nov. 24, 2020 /PRNewswire/ — Univar Solutions Inc. (NYSE: UNVR) (“Univar Solutions” or “the Company”), a global chemical and ingredient distributor and provider of value-added services, announced today an agreement with Arylessence, Inc. (“Arylessence”) to distribute Arylessence fragrances for selected product formats in the United States and Canada. The fragrance products expand Univar Solutions‘ portfolio of homecare and industrial cleaning (HIC) chemistries from premier specialty ingredients suppliers across the globe.

“We are extremely pleased to partner with Arylessence and appreciate the trust they have placed in Univar Solutions and our dedicated homecare and industrial cleaning solutions team,” said Aaron Lee, business director of homecare and industrial cleaning for Univar Solutions. “As a leading distributor of specialty chemicals in the HIC industry, we know that more environmentally preferred fragrances and sensory experiences are a significant part of a brand’s essence. The addition of this Arylessence line of fragrances to our extensive portfolio will help provide our customers across the United States and Canada with a full-service, one-stop-shop experience.”

This collaboration features Arylessence fragrances that are tested and approved for use in a variety of products for household, industrial, and hospitality cleaning, with uses ranging from dish soaps and detergents to air fresheners and car washes.

“Arylessence and Univar Solutions are customer solutions-oriented companies. Their portfolio and sensory strategy align with our strategy to expand our solutions for homecare and industrial cleaning manufacturers by partnering with leading suppliers dedicated to innovation, quality, and applications expertise,” said Bill Perry, senior product manager of HIC for Univar Solutions. “We look forward to this new addition to our best-in-class portfolio, as well as leveraging our geographic reach, sales, service, and technical formulation capabilities, helping accelerate and grow our businesses together.”

As part of the agreement, Univar Solutions will also carry a full line of Arylessence fragrances, which are compliant with the U.S. EPA Safer Choice program that supports consumer desire for environmentally preferred “green” cleaning formulations.

“Fragrance is a key differentiator for brands. We are built on the principles of people, resources, and support to help grow brands and the long-term success of businesses. We are excited to begin this new, unique partnership with Univar Solutions as our sole distributor of Arylessence Signature Fragrances for the homecare and industrial cleaning market. We expect even more customers will experience value and growth with the effective, safe, and innovative fragrance solutions for cleaning applications offered through our collaboration,” said Geoff Gotsch, sales director for Arylessence.

About Univar Solutions
Univar Solutions (NYSE: UNVR) 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 North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class 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. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.

About Arylessence
Arylessence, Inc. is an industry leading fragrance and flavor manufacturer in Marietta, Georgia. Their commitment to ensuring socially and environmentally responsible practices, including sourcing of ingredients and fragrances, helped lead them to seek SQF’s Ethical Sourcing Certification in 2015.  Arylessence is committed to responsible practices and believes Ethical Sourcing is a key component in responsible production worldwide.

Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions for the future which are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 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 the Company’s control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo Solutions, Inc., or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company’s filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release 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 press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek, “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.

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SOURCE Univar Solutions Inc.

BATON ROUGE, La., Nov. 24, 2020 /PRNewswire/ — Entergy Louisiana, LLC has completed the purchase of the Washington Parish Energy Center, an approximately 361-megawatt facility that will deliver a modern, cost-effective, low-carbon and reliable source of power to the company’s grid.

Constructed by a subsidiary of Calpine Corporation, the natural gas-powered plant is located near Bogalusa and will operate as a peaking facility.

“We continue to seek opportunities to add to our clean-energy portfolio, and the Washington Parish Energy Center is another step in us meeting those goals,” said Phillip May, Entergy Louisiana president and CEO. “The plant also helps ensure we continue to deliver reliable power to our customers at some of the lowest rates in the country.”

On April 21, 2017, Entergy Louisiana and Calpine signed a plant purchase and sale agreement, which was unanimously approved by the Louisiana Public Service Commission. The total cost of the plant is approximately $261 million.   

The unit will provide Entergy Louisiana with needed peaking and reserve generating capacity. The company currently depends upon older, less efficient natural gas-powered plants to help meet peak demand, but start-up times make them less effective as peaking resources. Modern combustion turbines like the two in Washington Parish are specifically designed to start and ramp up quickly to meet customers’ immediate energy needs.

“We extend our thanks to Entergy Louisiana for being a valued partner during the development and construction of this facility,” said Caleb Stephenson, Calpine executive vice president and co-head, commercial operations. “This project demonstrates Calpine’s commitment to develop and deliver commercial solutions for our utility customers, and we look forward to working with Entergy again.”

Entergy Louisiana, LLC provides electric service to more than 1 million customers and natural gas service to more than 93,000 customers in the greater Baton Rouge area. It has operations in southern, central and northern Louisiana. It is a subsidiary of Entergy Corporation, an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees.

entergylouisiana.com 
facebook.com/EntergyLA 
Twitter: @EntergyLA

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SOURCE Entergy Corporation

WILMINGTON, Del., Nov. 24, 2020 /PRNewswire/ — Corteva, Inc. (NYSE: CTVA) announces that Chief Executive Officer, James C. Collins, Jr., will speak at the Citi Basic Materials Virtual Conference at 1:00 p.m. Eastern Time on Wednesday, December 2, 2020.

Remarks will be webcast live, with a replay available following the event through December 2, 2021. Registration for the webcast and related materials can be accessed through the Corteva Investor Relations website.

About Corteva Agriscience
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the Company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.

Follow Corteva on Facebook, Instagram, LinkedIn, Twitter and YouTube.

 

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SOURCE Corteva, Inc.