Allan L. Schuman, Ecolab's Chairman, President and Chief Executive Officer commented on the transaction, saying, "With Ecolab's world-class product offerings and Zohar Dalia's local expertise, Ecolab-Zohar Dalia will be well-positioned to provide customers the best product and service solutions available in the institutional and food and beverage markets. In addition, this joint venture enables Ecolab to more directly participate in the fast growing and substantial Israeli economy, and extends our broader presence in the Middle East markets, enhancing our premium service network for our worldwide customers."
Ecolab is the leading global developer and marketer of premium cleaning, sanitizing, pest elimination, maintenance and repair products and services for the hospitality, institutional and industrial markets. For the year ended December 31, 1999, Ecolab reported sales of $2.1 billion; including European joint venture sales of $0.9 billion, Ecolab's global sales coverage was $3 billion. Ecolab shares are traded on the New York Stock Exchange and the Pacific Exchange under the symbol ECL.
Ecolab news releases and other investor information are available on the Internet at www.ecolab.com, and by telephone at 1-800-FACT-ECL.