Ecolab Sells Grease Management Business.Business Editors ST. PAUL, Minn.--(BUSINESS WIRE)--April 12, 2004 Ecolab Inc. announced today it has sold its Facilitec grease management business based in Chicago, IL to National Fire Services (NFS (Network File System) The file sharing protocol in a Unix network. This de facto Unix standard, which is widely known as a "distributed file system," was developed by Sun. See file sharing protocol and WebNFS. NFS - Network File System ) of Gurnee, IL. Facilitec's 2003 sales were $20 million. Terms were not disclosed. Allan L. Schuman Allan L. Schuman, age 71, is the former CEO of Ecolab, Inc. He resigned as chairman of the board in May 2006 and was named chairman emeritus, an honorary position. He worked at Ecolab for 49 years. Mr. , Ecolab's Chairman and Chief Executive Officer, commented, saying, "Ecolab continues to closely monitor its business portfolio to ensure we offer those products and services which have strategic value and where we can provide a significant differentiation and value-added contribution for our customers and shareholders. While a sound business, we determined Facilitec did not provide the long-term fit within our service business model as do our Pest Elimination and GCS GCS Glasgow Coma Scale GCS Guilford County Schools (North Carolina) GCS Ground Control Station GCS Grand Central Station GCS Ground Control System GCS Ground Combat Systems GCS Group Communication Systems businesses. This action will allow us to focus our resources on areas in which we can generate greater customer and shareholder value." With sales of $3.8 billion, Ecolab is the leading global developer and marketer of premium cleaning, sanitizing, pest elimination, maintenance and repair products and services for the hospitality, institutional and industrial markets. Ecolab shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol ECL (Emitter-Coupled Logic) A digital circuit composed of bipolar transistors in which the emitter ends are wired together. ECL gates switch faster than TTL gates, but consume more power. See TTL, I2L and bipolar. 1. . Ecolab news releases and other investor information are available on the Internet at http://www.ecolab.com. |
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