Ecolab, Inc. - ECL STOCK NEWS

Ecolab Inc. (NYSE:ECL) has extended its offer to exchange up to $684,751,000 in aggregate principal amount of its 2.750% Notes due 2055 until 11:59 p.m. New York City time on December 9, 2021. The exchange is for unregistered outstanding Original Notes, with 99.20% of the Original Notes, or $679,257,000, already tendered by the original deadline of December 7, 2021. The terms of the Exchange Notes are substantially identical to the Original Notes but are registered and unrestricted. This extension allows additional holders to participate in the exchange.

The board of directors of Ecolab has announced a 6% increase in its quarterly cash dividend, raising it to $0.51 per share, payable on January 18, 2022. This marks Ecolab's 30th consecutive annual dividend increase, resulting in a new indicated annual dividend of $2.04. The company has maintained cash dividends for 85 years, demonstrating a strong financial position, according to CEO Christophe Beck. The increase aims to restore the dividend payout ratio to historical levels.

Ecolab has successfully completed its acquisition of Purolite, a top global supplier of high-quality ion exchange resins aimed at the separation and purification of solutions for pharmaceutical and industrial needs. This acquisition, valued at approximately $3.7 billion, is expected to enhance Ecolab's market presence, with Purolite anticipating sales of around $0.4 billion in 2021. Ecolab continues to lead in water and hygiene solutions, generating annual sales of $12 billion and serving customers in over 170 countries.

Ecolab Inc. (NYSE:ECL) announced price increases across its Industrial segment divisions, effective December 1, 2021, due to rising raw material costs and logistical challenges. Most programs will see an average price hike of 15%. Ecolab emphasizes these adjustments are crucial for maintaining product quality and operational efficiency for customers. The company remains committed to delivering advanced technologies while facing significant inflationary pressures in packaging, labor, and utilities.

Ecolab has announced the resignation of Chief Financial Officer Dan Schmechel, effective December 31, 2021, after 27 years with the company. Scott Kirkland, currently Senior Vice President and Corporate Controller, will take over as CFO starting January 1, 2022. Schmechel will assist in the transition before retiring mid-2022. CEO Christophe Beck praised Schmechel's contributions, highlighting his role in strengthening Ecolab's financial functions. Kirkland, with over 15 years at Ecolab, is seen as well-prepared to lead the finance team and support the company's growth objectives.

Ecolab announced a live webcast on October 29, 2021, at 8:30 AM ET to discuss its recent acquisition of Purolite, a key strategic move for the company. The event will be webcasted publicly on Ecolab’s investor website. This acquisition is positioned to enhance Ecolab's capabilities in water, hygiene, and infection prevention solutions, potentially expanding their market reach and operational efficiency. Ecolab, a global leader in its field, has annual sales of $12 billion and serves nearly three million customers worldwide.

Ecolab Inc. has announced the acquisition of Purolite for approximately $3.7 billion in cash, enhancing its position in the life sciences and industrial markets. This strategic acquisition focuses on high-end ion exchange resins critical for drug production and purification, aiming to double Ecolab's existing high-margin business. Expected to close in Q4 2021, the transaction is anticipated to be neutral to adjusted earnings in 2022 and nearly $0.10 accretive in 2023. With Purolite generating around $0.4 billion in sales, the deal offers significant growth potential.