Distribution

Chemical distributors have weathered the financial storm and emerged intact, as this week’s cover story shows ( p. 21). Early 2010 performance has improved, and distributors continued to generate stable profits and cash flow through the worst economic crisis for decades. The outcome is a relief for distributors who had been on an M&A boom prior to the downturn. Brenntag and Univar, the two largest global distributors, were acquired by private equity firms in 2006 and 2007, respectively. Both were able to manage high debt levels through the downturn, and...

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