28 February 2012 14:20 [Source: ICIS news]
HOUSTON (ICIS)--Ecolab’s 2011 fourth-quarter net income fell by 32% year on year to $89m (€67m), mainly because of charges and integration costs related to its acquisition of water chemicals firm Nalco, the US-based producer said on Tuesday.
Ecolab’s $5.4bn acquisition of Nalco closed on 1 December 2011.
Ecolab’s sales for the three months ending on 31 December rose by 17% year on year to $1.8bn.
For the whole of 2011, Ecolab’s net income was down by 13% to $463m, mainly due to the Nalco charges, as well as restructuring expenses. Full-year sales rose by 12% to $6.8bn.
Looking ahead, CEO Douglas Baker warned of unfavourable currency trends, as well as higher pension and raw material costs.
“We also enter the year with our businesses on the right trajectory, a strengthened management team, an excellent innovation pipeline, and leadership positions in terrific businesses: food safety, water and energy,” he added.
“Further, the integration process [with Nalco] is progressing well, and we are well positioned to take advantage of the strong growth and cost synergies arising from our combination which we expect to build throughout the year,” he said.
($1 = €0.75)
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