Ecolab, Inc. has announced plans to spin off its Upstream Energy oil chemicals business.
Ecolab’s Upstream business consists of two units, the oil field chemical production division and the WellChem drilling and well completion chemical business. Ecolab anticipates the stand-alone company to have an annual operating income of US$170 million. The spinoff is expected to be finalized by the middle of 2020, The Star Tribune reports.
With annual sales of US$14 billion and more than 48,000 associates, Ecolab, Inc. specializes in cleaning, sanitizing, food safety, and infection prevention products and services in more than 170 countries. For more information, visit www.ecolab.com.