Ecolab Closes Sale of Global Surgical Solutions Business
Announces Intent to Repurchase up to
Ecolab will continue to serve hospitals through its infection prevention and instrument reprocessing businesses. Infection prevention provides environmental hygiene programs to reduce hospital acquired infections. Instrument reprocessing provides cleaning and sterilization solutions for instruments, which fits well with Ecolab’s growth model as it combines a technological anchor with proprietary consumables and service.
The company expects to repurchase the shares in the open market; in privately negotiated transactions from time to time, depending on market conditions; and through purchases made in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Ecolab had approximately 285 million shares outstanding on June 30, 2024. The expected repurchases would be pursuant to the previously announced February 2015 and November 2022 share repurchase authorizations by Ecolab’s Board of Directors.
About Ecolab
A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global sustainability leader offering water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. Building on a century of innovation, Ecolab has annual sales of
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Cautionary Statements Regarding Forward-Looking Information
This news release contains forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding uses of cash, including share repurchases and investments. These statements are based on the current expectations of management. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this news release. With respect to share repurchase activity, numerous factors will impact repurchase actions, including market conditions and company cashflows.
Additional risks and uncertainties are set forth under Item 1A of our most recent Form 10-K, and our other public filings with the Securities and Exchange Commission (“SEC”), and include the impact of economic factors such as the worldwide economy, interest rates, foreign currency risk, reduced sales and earnings in our international operations resulting from the weakening of local currencies versus the
(ECL-C)
View source version on businesswire.com: https://www.businesswire.com/news/home/20240731905177/en/
Investor Contacts:
Andrew C. Hedberg
+1 651 250 2185
Cairn Clark
+1 651 250 2291
Press Contacts
Nigel Glennie
+1 651 250 4724
MediaRelations@ecolab.com
Source: Ecolab Inc.