Ecolab To Complete Henkel JV Acquisition Next Month.* The Henkel Henkel KGaA (ISIN: DE0006048432, ISIN: DE0006048408) is an international household products company headquartered in Düsseldorf, Germany. The company has four business sectors operating in three strategic areas: Home Care Group and Ecolab Ecolab, Inc., is a St. Paul, Minnesota based sanitation supply company founded in 1923. It was named "Economics Laboratory" before its name was changed to Ecolab in 1986. Inc. have agreed to accelerate the combination of the 50% stake in the Henkel-Ecolab joint venture. Closing will be November November: see month. 30, 2001, the date when Henkel-Ecolab's fiscal year ends. As announced late last year, the transaction was originally scheduled to close January 2, 2002. Ulrich Lehner, Henkel's chief executive officer, stated: "We are pleased to complete this transaction even earlier than anticipated. The requirement to better serve the global customer base drives our desire to combine Henkel-Ecolab with Ecolab Inc. in one worldwide operating business. This is an important step toward creating a truly global business. Through the strategic participation in Ecolab Inc., Henkel will share in the success and the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth of this company." |
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