The company responsible for a significant share of the behind-the-scenes distribution of crop inputs in Canada has decided to restructure its agriculture business across the country.
Univar Solutions informed customers this week that it will sell and ship its existing inventory, and end purchasing and accepting marketing letters from suppliers for the agricultural market in Canada. The company expects the restructuring will be completed by the end of the 2020 calendar year.
“Univar Solutions remains focused on the agriculture market through NexusBioAg and Future Transfer, which each provide select products and services to this critical industry,” says a company statement shared with RealAgriculture.
NexusBioAg evolved out of Univar’s acquisition of Saskatoon-based fertilizer wholesaler Nexus Ag and an agreement to be the exclusive distributor for Novozymes biological products in Canada. The business offers a portfolio of crop nutrition products, including inoculants, micronutrients, nitrogen stabilizers, and foliar products.
Future Transfer, meanwhile, provides third-party warehousing, production and logistics services for multiple industries, including agribusiness, chemicals, manufacturing, mining and forestry, aerospace, oil and gas, and paint and coatings.
In an email to Canadian customers, the company says CropWeb — Univar’s online crop input portal — will also be functional throughout the restructuring.
Headquartered in Illinois, Univar Solutions is a publicly-traded chemical and ingredient distributor across a wide range of sectors around the world. The company was founded as Van Waters & Rogers in 1924.
In early August of this year, Univar Solutions announced a plan to streamline its operations, through “a renewed focus on operational efficiency and cost reduction.” At the time, the company said this plan could result in the sale of certain non-core assets.