Ecolab Sells Interest in Gibson Metal Finishing Business.ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--May 28, 1998--Ecolab Inc. announced today it has closed on the sale of its 50% interest in Gibson-Chemetall Pty., Ltd. to Chemetall GmbH, Frankfurt, Germany. Gibson-Chemetall, a joint venture company, was formed in 1997 to serve the metal treatment industry in Australia. Terms of the transaction were not disclosed. Ecolab is the leading global developer and marketer of premium cleaning, sanitizing, maintenance and pest elimination products and services for the hospitality, healthcare and light industrial markets. For the year ended December 31, 1997, Ecolab reported sales of $1.6 billion; including European Joint Venture sales of $0.9 billion, Ecolab's global coverage reached $2.5 billion. 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. and the Pacific Exchange 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 now available on the Internet at http://www.ecolab.com; and by telephone at 1-800-FACT-ECL. Chemetall is a world-scale supplier of chemicals and processes for surface treatment of metals and other substrates, Lithium lithium (lĭth`ēəm) [Gr.,=stone], metallic chemical element; symbol Li; at. no. 3; at. wt. 6.941; m.p. about 180.54°C;; b.p. about 1,342°C;; sp. gr. .534 at 20°C;; valence +1. Lithium is a soft, silver-white metal. compounds and other specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. with sales of about 1.16 billion DM. It is part of the Dynamit Nobel Group, which stands for the chemicals division of Metallgesellschaft. CONTACT: Ecolab Inc., St. Paul Michael J. Monahan, 612/293-2809 (Tel) 612/225-3123 (Fax) |
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