Ecolab Quarterly Sales Rise 2%, to Cut 500 Jobs in Restructuring
Ecolab Inc. (ECL), which closed this month on its acquisition of Champion Technologies Inc. and purchased Akzo Nobel NV (AKZA)’s Purate business to expand in the antimicrobial water-treatment market, said first-quarter revenue increased 2 percent to $2.87 billion from a year ago.
St. Paul, Minnesota-based Ecolab, a water, cleaning supplies and energy technologies company, also said in a statement today it plans to cut 500 jobs amid $55 million in restructuring costs. The shares have risen 17 percent this year.
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