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Requests for Dispersants Drives Sales
- Company Makes Donation to Further Support Gulf
NAPERVILLE, Ill., May 17, 2010 (GLOBE NEWSWIRE) -- Nalco (NYSE:NLC) announced today that its efforts to meet Gulf oil spill respondent requests for dispersants will have generated about $40 million in sales by the end of the week, or a level equivalent to approximately 1 percent of expected 2010 Company revenues.
Nalco's oil dispersants act like dishwashing soap to separate and break apart oil so it will be more readily digested by oil-consuming microorganisms. This process naturally biodegrades both the oil and dispersants.
Recognizing the broad impact of the spill on the Gulf region, Nalco will donate $2 million to the Nalco Foundation, that the Foundation has committed to donating to organizations conducting relief and clean-up efforts.
"This is truly a devastating situation, and we recognize the urgent need for large-scale support to combat the ongoing effects of the incident," said Nalco Chairman and Chief Executive Officer Erik Fyrwald. "We have focused our efforts in recent weeks on increased dispersant production at the expense of normal growth pursuits but believe it is our corporate responsibility to both respond to the federal agencies working to minimize the effects of this spill and assist those who live along the Gulf Coast and derive their livelihood from the region."
Not-for-profit organizations interested in applying for funding should send an e-mail to gulfrelief@nalco.com for additional details.
About Nalco
Nalco is the world's leading water treatment and process improvement company, 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 World Index. 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.