US Ecolab to restructure energy business; aims to cut 500 positions

30 April 2013 14:18  [Source: ICIS news]

HOUSTON (ICIS)--Ecolab plans to restructure its energy business following its recent acquisition of Champion Technologies, the US-based water and energy services and water chemicals firm said on Tuesday.

Ecolab said it would cut about 500 positions as part of an effort to achieve “annual acquisition cost synergies” of $150m (€114m) by the end of 2015.

A number of the job cuts are expected to be achieved through open positions and attrition, the company said.

“Those whose jobs are eliminated will be offered severance and outplacement as appropriate,” Ecolab added.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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