NALCO

From SourceWatch
Jump to: navigation, search

Nalco Holding Company, a wholly owned subsidiary of Ecolab Inc.; is a Naperville, Illinois based supplier of water, energy and air improvement solutions and services for industrial and institutional markets. The company through its products, services and solutions help its customers to reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products.[1]

The company was originally founded in 1928 as the National Aluminate Corporation, formed from the merger of Chicago Chemical Company and the Aluminum Sales Corporation. By a series of mergers and acquisition, its name changed to Nalco Chemical Company (1959 - 1999); then Ondeo Nalco Company (1999 - 2004); and in 2004 to Nalco Holding Company. It became a subsidiary of Ecolab Inc. in December 2011 after the completion of the US$5.4 billion acquisition by Ecolab.

Nalco currently serves more than 70,000 customers employing over 11,500 employees operating in over 130 countries. Among its products is Corexit - an oil dispersant widely used in the Deepwater Horizon oil spill.

History

The company traces its origins to 1928 in the United States with the establishment of National Aluminate Corporation - formed from the merger of Chicago Chemical Company and the Aluminum Sales Corporation. In 1959 it changed its name to Nalco Chemical Company; and in 1964, it became a publicly traded company listed on the New York Stock Exchange. It acquired Industrial Bio-Test Laboratories in 1966.[2]

The company was delisted from NYSE and renamed to Ondeo Nalco Company, following its 1999 acquisition by the French company, Suez (presently GDF Suez). [3]

On 9 December 2003, the private equity group consisting of the Blackstone Group, Apollo Management LP and Goldman Sachs Capital Partners collaborated to acquire Ondeo Nalco Company from Suez SA for US$4.2 billion.[4] The Company went public again, returning to the New York Stock Exchange in late 2004 under the name Nalco Holding Company.

In 2007, Nalco achieved sales of more than US$3.9 billion.

In July 2011, Nalco announced a merger with Ecolab, Inc., and it became a wholly owned subsidiary of Ecolab Inc. in December 2011 after the completion of the US$5.4 billion acquisition by Ecolab.[5][6]

ExxonMobil ties

In 1994, Nalco and Exxon Chemical Company announced the formation of the joint venture, Nalco Exxon Energy Chemicals L.P., to provide products and services to all facets of the petroleum and natural gas industries. In 2001, NALCO, which by then named 'Ondeo Nalco', strengthened its position in the petroleum industry when Nalco Exxon Energy Chemicals, L.P. became part of the company through redemption of ExxonMobil stock in the joint venture. Daniel S. Sanders, who was previously president of Exxon Mobil Chemical Company, a subsidiary of Exxon Mobile; serves on the Nalco's (now, Ecolab's) board.[7] [8]

Lobbying activity and financial contributions to political candidates

The Center for Responsive Politics documents Nalco Company Political Action Committee financial contributions to political candidates, with 2010 contributions to Judy Biggert (R-IL), Charles Boustany (R-LA), Dan Lipinski (D-IL), John Shimkus (R-IL) and Dick Durbin (D-IL).[9][10]

The CRP also lists Nalco Holding Company's spending on lobbying, including $160,000 in 2010 to Ogilvy Government Relations to lobby on their behalf to the U.S. House of Representatives and the Senate, the Department of the Interior, and the Environmental Protection Agency between April 1 and June 30 of 2010, on "issues related to the use of corexit 9500 in the Gulf of Mexico oil spill".[11]

References

  1. Nalco company profile from LinkedIn. Retrieved on 18 August 2012.
  2. Private equity group acquires Ondeo Nalco Company. ethanolproducer.com (9 December 2003). Retrieved on 21 July 2012.
  3. "Ecolab Agrees To Buy Nalco For $5.4 Billion To Add Water-Treatment Service", bloomberg.com (July 2011). Retrieved on 21 July 2012. 
  4. Ecolab Closes on Merger With Nalco. mobotecusa.com (9 December 2003). Retrieved on December 2011.
  5. Ecolab merger to build on Nalco’s legacy. mobotecusa.com (December 2011). Retrieved on 21 July 2012.
  6. (Nalco Forms Outsourcing Unit). business.highbeam.com (9 December 1999). Retrieved on 20 July 2012.
  7. Daniel S Sanders Bio from Ecolab website
  8. Private equity group acquires Ondeo Nalco Company. ethanolproducer.com (9 December 2003). Retrieved on 21 July 2012.
  9. opensecrets.org:NALCO
  10. SEC filing. mobotecusa.com (December 2011). Retrieved on 21 July 2012.
  11. opensecrets.org: Nalco Holding Co: Fundraising/Spending by Cycle, accessed 28 August 2008


Articles and Resources

Related SourceWatch resources

Profiles and campaigns

External Articles

References

Wikipedia also has an article on NALCO. This article may use content from the Wikipedia article under the terms of the GFDL.