08 January 2013 16:52 [Source: ICIS news]
HOUSTON (ICIS)--Ecolab expects continued year-on-year earnings and sales growth in 2013, despite soft economic market trends, the CEO of the US-based water and energy technologies and specialty chemicals firm said on Tuesday.
“In spite of expected continued soft economic and market trends in 2013, as well as unfavourable pension expense due to lower interest rates, we plan on again driving growth using new product introductions, superior sales and service execution, new account wins, and better customer penetration,” Douglas Baker said.
“We will also continue to focus on cost reductions, improved operating efficiency and merger synergies to leverage top-line gains and yield margin improvement,” he added.
Ecolab expects its 2013 adjusted diluted earnings per share, excluding special gains and charges and discrete tax items, to be in a range of $3.38 to $3.48 (€2.57 to €2.64). This compares with $2.96-$3.00 Ecolab expects to report for 2012 and the $2.54 it achieved in 2011.
Ecolab also said it expects to complete the acquisition of specialty chemicals producer Champion Technologies in early 2013.
The company had previously expected the Champion acquisition to close by the end of 2012 but closing is delayed because US competition authorities have yet to clear the deal.($1 = €0.76)
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