THE WOODLANDS, Texas, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Nexeo Solutions, Inc. (NASDAQ:NXEO), a leading global chemicals and plastics distributor, signed an agreement with Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell) to purchase approximately eight acres of land that Nexeo Solutions currently leases from Shell in Carson, California. Contemporaneously, with the closing of the sale of land, Nexeo Solutions and Shell will execute a new service agreement. In addition, Nexeo Solutions and Shell Chemical LP have finalized a new products supply agreement to support this long-term relationship.
These agreements secure Nexeo Solutions’ ability to operate long-term from its current facility and expand access to additional storage capacity on the property.
“This investment affirms our commitment to the West Coast region,” said Dan Matheny, Vice President, Industrial Markets at Nexeo Solutions. “I’m excited the service agreement will give us the opportunity to grow in the West Coast region beyond our current capability.”
This agreement is subject to customary closing conditions and regulatory approvals.
About Nexeo Solutions, Inc.
Nexeo Solutions is a leading global chemicals and plastics distributor, representing products from world-class producers to a diverse customer base. From product specification to sustainable solutions, the Company goes beyond traditional logistics to provide value-added services across many industries, including chemicals manufacturing, oil and gas, coatings, personal care, healthcare, automotive and 3D printing. The Company leverages a centralized technology platform to identify efficiencies and create solutions to unlock value for suppliers and customers. Learn more at www.nexeosolutions.com.
FOR FURTHER INFORMATION PLEASE CONTACT
Media Relations, Nexeo Solutions
Tel: +1.281.297.0851, Media.Relations@nexeosolutions.com
Investor Relations, Nexeo Solutions
Tel: +1.281.297.0856, Investor.Relations@nexeosolutions.com