Tag Archives: Champion Technologies

Business, Finance, Occupation & Industry

Ecolab Closes on Purchase of Champion

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By Business Wirevia The Motley Fool

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Ecolab Closes on Purchase of Champion

ST. PAUL, Minn.–(BUSINESS WIRE)– Ecolab Inc. announced today that it has closed on its acquisition of Champion Technologies and its related company Corsicana Technologies. 2012 sales of the acquired business were approximately $1.3 billion. The total transaction value, including assumed debt, was approximately $2.3 billion.

A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2012 sales of $12 billion and 41,000 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. For more Ecolab news and information, visit www.ecolab.com.

(ECL-A)

Ecolab Inc.
Michael J. Monahan, 651-293-2809
or
Lisa L. Curran, 651-293-2185

KEYWORDS:   United States  North America  Minnesota  Texas

INDUSTRY KEYWORDS:

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Ecolab Announces Extension of Champion Close Timing

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By Business Wirevia The Motley Fool

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Ecolab Announces Extension of Champion Close Timing

Closing presently expected to occur before April 15

ST. PAUL, Minn.–(BUSINESS WIRE)– Ecolab Inc. expects the closing of the previously announced acquisition of Champion Technologies will be delayed beyond March 31 but is expected to occur before April 15. We continue to have productive discussions with the Antitrust Division of the U.S. Department of Justice (DOJ) regarding our filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to the Champion transaction. Discussions with the DOJ have progressed, and we believe the likely resolution will not meaningfully impact the strategic value and economics that originally compelled us to make this acquisition.

While we are confident that we will successfully conclude the transaction, it remains possible that the transaction will not be completed on the timing discussed or at all.

A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2012 sales of $12 billion and 41,000 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. For more Ecolab news and information, visit www.ecolab.com.

Cautionary Statements Regarding Forward-Looking Information

This communication contains statements relating to future events and our intentions, beliefs, expectations and predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “we believe,” “we expect,” “estimate,” “project,” “may,” “will,” “intend,” “plan,” “believe,” “target,” “forecast” (including the negative or variations thereof) or similar terminology used in connection with any discussion of future plans, actions or events generally identify forward-looking statements. These forward-looking statements include, but are not limited to, resolution of issues raised by the Department of Justice and the expected completion of the Champion acquisition. These statements are based on the current expectations of management of the company. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in these communications. These …read more
Source: FULL ARTICLE at DailyFinance