Ecolab, Inc. - ECL STOCK NEWS

Ecolab has launched Exelerate™ TUFSOIL, a ready-to-use gel cleaner for food and protein manufacturers. This innovative product significantly reduces cleaning time for tough burnt-on soils in various food processing environments.

The patent-pending formula improves cling time compared to foam cleaners, enhancing cleaning efficiency. Notably, it can be applied on hot surfaces and features a fluorescent dye for visibility. Exelerate TUFSOIL is available in North America and Greater China, with plans for expansion in 2021.

Ecolab has received EPA approval for its Sink & Surface Cleaner Sanitizer, the first product allowed to kill the COVID-19 virus in just 15 seconds. This makes it the fastest sanitizer on the market. The product is designed for hard, non-porous food contact surfaces and combines cleaning and sanitizing without rinsing. Ecolab, a leader in water, hygiene, and infection prevention solutions, markets this sanitizer as part of its comprehensive hygiene program that includes rigorous training and auditing to ensure safety standards.

Ecolab Inc. has appointed Christophe Beck as its new chief executive officer, effective January 1, 2021, succeeding Douglas Baker, Jr., who will continue as board chairman. Beck, who joined Ecolab in 2007, previously served as president and COO, and is recognized for his leadership in strengthening the company's strategy and market position. Under Baker's 16-year leadership, Ecolab's market capitalization increased over eightfold, adding $50 billion in value. The board is optimistic about Beck's ability to further enhance Ecolab's global business and sustainability initiatives.

Ecolab (ECL) reported its third quarter results, showing a 6% decline in sales and a 43% drop in diluted EPS compared to the previous year. Adjusted EPS fell 24% to $1.15. The results were primarily affected by COVID-19 impacts across segments, with notable declines in Institutional & Specialty and Other segments, despite a strong performance in Healthcare & Life Sciences. Operating income decreased 25% year-over-year. The company anticipates continuing improvement in the fourth quarter, driven by innovations in hygiene and digital technologies.

Ecolab announced a partnership with Water.org to improve access to clean water and sanitation in India, impacting 100,000 impoverished individuals. This initiative aligns with Ecolab's 2030 Impact Goals, aiming to enhance watershed health by contributing over 26.4 million gallons of water annually. The collaboration focuses on social responsibility, equitable access, and recurring water benefits in high-stress basins. Ecolab aims to drive community resilience and support sustainable water solutions amid increasing climate and public health challenges.

Ecolab has renewed its partnership with the American Hotel & Lodging Association (AHLA), enhancing support for the hospitality industry amid evolving health and safety standards due to COVID-19. This collaboration aims to implement AHLA's Safe Stay initiative, which focuses on improved cleaning procedures and guest interactions. Ecolab's Science Certified program will validate hotel cleanliness through a set of rigorous protocols. With annual sales of $13 billion, Ecolab provides vital cleaning and disinfecting solutions, reinforcing its role as a leader in hygiene and safety across multiple sectors.

Ecolab has launched the Precision Dispensing System for Membranes, a programmable logic controller-based cleaning chemical dispenser designed to enhance worker safety, boost productivity, and prolong asset life for whey processors. This system utilizes advanced flow-based sensors for accurate dosing, features separate modules for acid and alkaline chemistries, and can manage up to five membrane systems simultaneously. Key benefits include a +/- 20 milliliters dosing accuracy and a web-based dashboard for real-time chemical usage reporting.

Ecolab has received EPA approval for its Peroxide Multi Surface Cleaner and Disinfectant, marking it as the first EPA-registered disinfectant effective against SARS-CoV-2 with electrostatic spray technology. This product can kill the virus in 30 seconds and is designed for various settings, including hospitals and retail stores. Ecolab aims to simplify hygiene procedures while enhancing consumer safety through its innovative cleaning solutions. With annual sales of $13 billion, Ecolab serves nearly three million commercial locations globally.