NAPERVILLE, Ill., Jan. 6, 2011 /PRNewswire/ -- Nalco (NYSE: NLC),
providing essential expertise for water, energy and air, announced
today it reached a definitive agreement to sell its NALFLEET marine
chemicals unit to Norway's
Wilhelmsen Ships Service for $41
million.
(Logo: http://photos.prnewswire.com/prnh/20101231/NALCOLOGO)
"The marine chemicals business is not a core part of our
industrial water and process treatment businesses," said Nalco
Chairman and Chief Executive Officer J.
Erik Fyrwald. "NALFLEET, as a part of Wilhelmsen Ships
Service, joins the world's largest maritime services network and
will have greater access to global shipping customers and market
growth opportunities. At the same time this sale allows Nalco to
sharpen our focus on markets in which we have clear leadership
positions with the best opportunities for success."
Nalco will be transferring certain assets relating to NALFLEET
to Wilhelmsen Ships Service, but supply chain-related assets are
not included. The transaction is expected to close during the first
quarter.
About Nalco
Nalco is the world's largest sustainability services company
focused on industrial water, energy and air applications;
delivering significant environmental, social and economic
performance benefits to our customers. We help our customers reduce
energy, water and other natural resource consumption, enhance air
quality, minimize environmental releases and improve productivity
and end products while boosting the bottom line. Together our
comprehensive solutions contribute to the sustainable development
of customer operations. Nalco is a member of the Dow Jones
Sustainability Indexes. More than 11,500 Nalco employees operate in
150 countries supported by a comprehensive network of manufacturing
facilities, sales offices and research centers to serve a broad
range of end markets. In 2009, Nalco achieved sales of more than
$3.7 billion. For more information
visit www.nalco.com.
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This news release includes forward-looking statements,
reflecting current analysis and expectations, based on what are
believed to be reasonable assumptions. Forward-looking statements
may involve known and unknown risks, uncertainties and other
factors, which may cause the actual results to differ materially
from those projected, stated or implied, depending on many factors,
including, without limitation: ability to generate cash, ability to
raise capital, ability to refinance, the result of the pursuit of
strategic alternatives, ability to execute work process redesign
and reduce costs, ability to execute price increases, business
climate, business performance, economic and competitive
uncertainties, higher manufacturing costs, reduced level of
customer orders, changes in strategies, risks in developing new
products and technologies, environmental and safety regulations and
clean-up costs, foreign exchange rates, the impact of changes in
the regulation or value of pension fund assets and liabilities,
changes in generally accepted accounting principles, adverse legal
and regulatory developments, including increases in the number or
financial exposures of claims, lawsuits, settlements or judgments,
or the inability to eliminate or reduce such financial exposures by
collecting indemnity payments from insurers, the impact of
increased accruals and reserves for such exposures, weather-related
factors, and adverse changes in economic and political climates
around the world, including terrorism and international
hostilities, and other risk factors identified by the Company.
Accordingly, there can be no assurance that the Company will meet
future results, performance or achievements expressed or implied by
such forward-looking statements. This paragraph is included to
provide safe harbor for forward-looking statements, which are not
generally required to be publicly revised as circumstances change,
and which the Company does not intend to update.
SOURCE Nalco