26 February 2013 14:27 [Source: ICIS news]
HOUSTON (ICIS)--Ecolab’s 2012 fourth-quarter net income rose to $231.4m (€175.9 m), from $88.7m in the same period a year ago, as the merger with water chemicals major Nalco drove a 65% year-on-year increase in sales, the US-based producer said on Tuesday.
In addition, fourth-quarter earnings benefited from comparison with a softer period last year for the water, paper and energy services businesses, when profits were impacted by a sharp run-up in raw material costs in that period, Ecolab said.
Ecolab’s sales for the three months ended 31 December were $3.05bn, up from $1.85bn in the 2011 fourth quarter. Fourth-quarter operating income more than doubled to $395.8m.
"Fourth-quarter results were strong as our team performed very well in 2012's challenging environment, driving strong sales growth in otherwise mixed end markets and economies,” commented CEO Douglas Baker.
Ecolab also said that is continues to be in talks with US authorities over its planned acquisition of specialty chemicals firm Champion Technologies.
“While we believe that we are close to resolving the Department of Justice's remaining issues, it remains possible that the Champion acquisition will not be completed in the targeted time frame, or at all,” the company said.
($1 = €0.76)
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