Ecolab Inc

Article Abstract:

Ecolab Inc is optimistic about its growth earnings despite a June quarter and first half dismal performance of its joint venture with Henkel Corp Chemical Products Div of Germany. Ecolab had incurred huge expenses in stocks and cash in its purchase of Henkel's related businesses in other countries and failed to reach its projected earnings despite a $2 million June quarter profit. However, Ecolab Chairman Pierson Grieve states his satisfaction with the successful merging of operations of both companies while Henkel increased its share holdings of Ecolab's stocks.

Building maintenance services, not elsewhere classified, Disinfecting & pest control services, Joint ventures, Cleaning services industry, Economics Laboratory Inc., Henkel Corp. Chemical Services Div.

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Ecolab Inc

Article Abstract:

Cleaning and maintenance services marketer Ecolab Inc will divest its unprofitable ChemLawn lawncare business. The operation, which posted a loss of $275 million in 1991, was reclassified as discontinued. Ecolab has abandoned hopes of recovering its $376 million investment in ChemLawn, as it may not even sell for more than $100 million. However, the proposed divestiture gained the approval of financial analysts and consequently upgraded Ecolab's stock rating from Underperforming to Neutral.

Soap and other detergents, Mergers, acquisitions and divestments, Ecolab Inc.

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Grow Group, Inc

Article Abstract:

Grow Group Inc has agreed to let Corimon C.A. have a 28% shares holdings and the latter has made two large purchases in Aug 1992 to obtain a 24.2% stake or a total of 3.4 million shares. This agreement will enable Grow Group to pay off some of its long-term debts which it incurred during a fire in its Los Angeles bleach plant. The company has earned profits in its 1992 fiscal year as a result of its Consumer and Professional Products Group restructuring.

Paints and allied products, Contracts, Paint industry, Grow Group Inc., Corimon C.A.

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