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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nexeo Solutions Inc    NXEO

NEXEO SOLUTIONS INC (NXEO)
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Nexeo Solutions Introduces New Methylene Chloride Free Startex® Paint Strippers

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07/31/2018 | 11:06am CET

THE WOODLANDS, Texas, July 31, 2018 (GLOBE NEWSWIRE) -- Nexeo Solutions, Inc. (NASDAQ:NXEO) announced the availability of methylene chloride free alternatives in their Startex® brand of paint strippers. The new products represent a continued effort by the Company to find solutions that meet the challenges faced by customers and end users.

With a commitment to providing quality raw materials and consumer-friendly products, Nexeo Solutions has reformulated its Startex® Liquid Paint Stripper and Semi-Paste Paint Stripper products with ingredients without methylene chloride.

“As a market leader, it is our responsibility to provide innovative products to customers. We have been working on these alternative formulations for the past two years, and. I am proud to say that we have delivered a high-performing, methylene chloride free option to current products on the market,” said Jason Sanchez, Business Director Co-Pack. “At Nexeo Solutions, we are excited that our Startex® product line can help set the standard for methylene chloride free paint stripper products.”

The Startex® Liquid Paint Stripper provides a fast, convenient way to remove paint, varnish, lacquer and shellac from wood, metal, concrete, and masonry surfaces, while the Startex® Semi-Paste Paint Stripper provides the same benefits for vertical surfaces.

The Startex product line also includes an environmentally-friendly Green Paint Stripper, which strips paint and coatings from a wide variety of surfaces has low VOC content, and contains no hazardous air pollutants or methylene chloride. The Green product line also complies with California’s South Coast Air Quality Management District and the California Air Resources Board VOC requirements.

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.

About Startex
Startex Chemicals, founded in 1984 and wholly-owned by ultimate parent company Nexeo Solutions, Inc., provides a full line of professional grade solvents, thinners and cleaners for a variety of home improvement projects. The Texas-based brand offers over 30 products in a variety of sizing options, from 4.5 ounce containers to 55 gallon drums, for retailers and customers. Startex products can be sourced through more than 40 locations across the U.S. and Canada, and are found in a variety of hardware, paint and home improvement stores. Learn more at www.startexchemicals.com.

FOR FURTHER INFORMATION PLEASE CONTACT

Media Relations
+1.281.297.0851
Media.Relations@nexeosolutions.com

Investor Relations
+1.281.297.0856
Investor.Relations@nexeosolutions.com

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© GlobeNewswire 2018
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Financials ($)
Sales 2018 4 027 M
EBIT 2018 123 M
Net income 2018 -
Debt 2018 743 M
Yield 2018 -
P/E ratio 2018 13,15
P/E ratio 2019 10,51
EV / Sales 2018 0,41x
EV / Sales 2019 0,37x
Capitalization 905 M
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Number of Analysts 3
Average target price 12,3 $
Spread / Average Target 22%
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Managers
NameTitle
David A. Bradley President, Chief Executive Officer & Director
Dan F. Smith Non-Executive Chairman
Ross J. Crane Chief Financial Officer & Executive Vice President
Thomas E. Zacharias Lead Independent Director
Kenneth Michael Burke Independent Director
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