Skip to main content
Updated:
Original:

Ecolab 4Q earnings soar, says Champion deal appears close

Author:

St. Paul-based Ecolab, Inc. reported net income of $231.4 million in the fourth-quarter, up a staggering 161 percent from $88.7 million a year earlier, Twin Cities Business reports. Revenue for the quarter climbed 65 percent to a record $3.04 billion.

The Business Journal notes Ecolab's earnings surged largely due to its acquisition of Illinois-based water services giant Nalco Holding Company in 2011.

"Fourth quarter results were strong as our team performed very well in 2012's challenging environment, driving strong sales growth in otherwise mixed end markets and economies," CEO Douglas Baker said in a news release.

For the year, net income jumped 52 percent to $703.6 million, while revenue rose 74 percent to $11.8 billion, the Associated Press reports.

The Star Tribune says Ecolab is close to resolving antitrust concerns over its deal to acquire Champion Technologies. Ecolab agreed to buy the Texas-based chemical maker for roughly $2.2 billion last fall.

The company expects the tentative acquisition to close in the first quarter.

Click here, to follow Ecolab's stock performance.

Next Up

Target store

Target's gift card discount is back, but for this weekend only

The fine print: for Target Circle members only (but membership is free).

Screen Shot 2020-06-15 at 7.11.05 AM

Minneapolis teen arrested in St. Cloud after fleeing police in stolen vehicle

The vehicle was stolen in a car-jacking in Minneapolis Thursday.

snow, blowing snow

Winter storm warnings issued with heavy snow set to slam MN

Parts of northern Minnesota could see more than a foot of snow, but there won't be much in the Twin Cities.

D'Angelo Russell

With KAT out, Timberwolves can't upset Nets

D'Angelo Russell stepped up but couldn't overcome Brooklyn's firepower.

Everson Griffen Vikings dot com

Everson Griffen confirms he has bipolar disorder

"I’ve been running from it a long time. I’m not ashamed of it anymore.”

Angela Renee Jones, St. Cloud murder suspect

St. Cloud suspect now charged in two local murder cases

Both murders happened within a day of each other in June.

st anthony 3 crop

Twin Cities police ask for help finding missing 16-year-old

Police say all her family and friends have been contacted, and none of them know where she is.

mpd suspect 12.3.21 - 1 - CROP

MPD releases photos of shooting suspect, asks for public's help

The man is wanted in connection with a fatal shooting that happened Wednesday evening.

redmons popcorn colbert 2

Support grows for Redmon's Popcorn after shop's sudden closure

The county also commented on the situation, saying it hopes to help owner Zack Redmon.

prior lake high school

Prior Lake HS investigating another 'racist' video involving student

The principal said the social media video was reported to them this week.

Related