Ecolab to Expand Its European Pest Elimination Business.Business Editors 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)--Nov. 17, 2003 Ecolab Inc. announced it will expand its pest elimination business in Europe through an agreement to purchase Nigiko, a Paris-based provider of commercial pest elimination services throughout France. Nigiko primarily operates through Amboile Services, which is one of the leading providers of pest elimination services in France. Nigiko pest elimination sales are approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 45 million (or $50 million). The agreement is subject to several closing conditions, including antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. review. Closing is expected to occur in early 2004. No other details were announced. Commenting on the acquisition, 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, stated, "This marks our second pest elimination acquisition in Europe and an extension of our pest business to the Continent. More importantly, it brings our premium service to yet another major country in Europe, and represents another step in building our pest elimination business around the globe. We will make continued investments in this and other global commercial cleaning and sanitizing markets as we continue to implement our proven growth strategy to provide an expanding range of customer solutions and continue our strong business growth." With sales of $3.4 billion, Ecolab is the leading global developer and marketer of premium cleaning, sanitizing, pest elimination, maintenance and repair products for the hospitality, foodservice, 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. 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 available on the Internet at www.ecolab.com. |
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