ST. PAUL, Minn. — Two will become one with news that the Naperville, Ill.-based water treatment and process-improvement company Nalco Holding Company will merge with a subsidiary of Ecolab Inc. in an estimated $8-billion transaction, including assumed Nalco net debt.
“We believe we can help accelerate Nalco’s investments in its product innovation and sales and service force, enhancing the range of effective and efficient solutions,” said Douglas Baker, Jr., chairman, president and CEO of the St. Paul, Minn.-based Ecolab, a cleaning, sanitizing and food-safety company. “We are excited by the potential our combined operations offer and the improved solutions we will bring to our customers as well as additional opportunities for both companies’ associates.”J. Erik Fyrwald, Nalco’s chairman, president and CEO is also excited about the merger. “This is a compelling strategic transaction that delivers an immediate premium to our shareholders and the opportunity to participate in the significant upside potential of the combined organization,” he said. “We have long admired Ecolab, and we share similar cultures and business models. We look forward to working together to realize the benefits for all of our stakeholders, including our shareholders, customers and employees.”
The transaction is expected to close in the fourth quarter. The combined company, Ecolab Inc., will operate out of St. Paul, Minn.
Photo by Rick Peters
