Ecolab, the leading producer of cleansing and sanitation products, has sell a section of its Mobotec business to UK-based, The Power Industrial Group. Mobotec develops air protection technologies and was a part of Nalco, which had been acquired by Ecolab in 2011.
Ecolab has sold its capital equipment design and build business but it has retained the chemical business of Mobotec. These were the only details that were revealed by the company. Sales worth $27 million had been generated by Mobotec equipment design and build business in 2012.
Ecolab produces products related to the foodservice, food and beverage processing, healthcare and even hospitality markets all over the world.
The company has always had an aggressive strategy and has pursued many acquisitions along with its ability to sell the non-core and underperforming assets and move to more profitable niches.
In December 2012, Ecolab had sold its Vehicle Care Division to Atlanta, Ga.-based Company, Zep Inc. in a $116.9 million deal. The company made a profit of $76.3 million from this sale, which came to be $47.5 million after taxes.
Ecolab reported its adjusted earnings per share of 86 cents in the 2nd quarter of 2013. This was a direct 19 percent jump from the company’s year-ago earnings.
Its revenues grew 13 percent and reached $3,337.8 million, which was a record high for the company. Ecolab’s latest acquisition, Champion Technologies was a significant contributor in the revenue of this quarter.
For third quarter 2013, adjusted earnings are expected in a range of $1.00 to $1.05 per share, up 15%–21% year over year.