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Harvey Forces Ecolab to Shut Down Three Manufacturing Plants 

Print Article Contributed by BSM Staff

 

ST. PAUL, MN – Ecolab, a provider of water, hygiene and energy technologies, has donated 10 truckloads of cleaning and sanitizing products to the victims of Hurricane Harvey, even as it has had to shut down three of its manufacturing plants in the Houston area.

“The damage caused by Hurricane Harvey to the people in its path has been immense and tragic,” said Douglas M. Baker, Jr., Ecolab’s chairman and CEO. “We are pleased that our Ecolab associates are safe and we are supporting them in the recovery. Our hearts and best wishes go out to everyone affected by the storms as they seek to rebuild. To assist, we have donated 10 truckloads of cleaning and sanitizing products and are matching our global associates financial contributions for those in need in the affected area.

“The effects of the hurricane on our customers, our plants and operations and our raw material costs are still playing out and it is too early to formally quantify them. However, a number of our industrial and refining customers were forced to shut down their operations.

As a result, the company believes the impact could result in third quarter adjusted diluted earnings per share on the low end or slightly below its previously forecasted $1.36 to $1.44 range, and likely on the lower end of the full year 2017 range of $4.70 to $4.90.

Baker said Ecolab thinks Hurricane Harvey’s impact will be temporary, and that the fundamental strengthening trends within its business sales and margins are continuing and will be reflected in results going forward.

“We do not believe there will be any meaningful impact on our 2018 results,” he said. “Obviously, this does not include prospective impacts from other hurricanes.”

With 2016 sales of $13 billion and 48,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world.

Ecolab Inc. will host a live webcast of its biennial meeting for professional investors today in St. Paul, Minn. The event will begin at approximately 9 a.m. ET and end at approximately 3:30 pm ET.

The webcast, along with related materials, will be available to the public on Ecolab's website at www.ecolab.com/investor. A replay of the webcast and related materials will be available at that site.

 

 

 

 

 

 

 

 

 

 

 

 

 

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