Ecolab’s Industrial Segment Announces Price Increase

Ecolab Inc. (NYSE:ECL) announced price increases across its Industrial segment divisions, effective December 1, 2021, due to rising raw material costs and logistical challenges.

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

11/19/2021 - 08:30 AM EST

ST. PAUL, Minn.--(BUSINESS WIRE)-- Ecolab Inc., the global leader in water, hygiene and infection prevention solutions and services, is implementing price increases for all Industrial segment divisions, effective Dec. 1, 2021, or as contracts permit, due to the substantial escalation of raw material costs, tightening availability of raw materials and significant increases in packaging, transportation, logistics, labor and utility costs.

Price increases will vary by product category, with pricing for most Industrial segment programs averaging increases of 15%.

“Our focus for customers is consistent – helping them achieve the best operating performance while optimizing the efficiency and total cost of their operations,” said Darrell Brown, Ecolab executive vice president and president, Global Industrial. “Key to this value delivery – which we call our Exponential Return on Investment (eROI) – are the ongoing investments we make in our industry-leading products and in the advanced industry expertise our sales-and-service associates bring to every customer site.

“The dramatic increase in cost pressures and the challenging availability of key raw materials over the past several months have made it necessary to raise prices. Doing so will help offset ongoing cost increases incurred by us and ensure we can continue to provide the leading technologies, solutions and services to help our customers, including programs to reduce water and energy use, waste and their total cost of operation.”

Ecolab Industrial sales representatives will be available for customers to discuss the impact of these increases.

About Ecolab

A trusted partner at nearly three million customer locations, Ecolab (ECL) is the global leader in water, hygiene and infection prevention solutions and services. With annual sales of $12 billion and more than 44,000 associates, Ecolab delivers comprehensive solutions, data-driven insights and personalized service to advance food safety, maintain clean and safe environments, optimize water and energy use, and improve operational efficiencies and sustainability for customers in the food, healthcare, hospitality and industrial markets in more than 170 countries around the world. www.ecolab.com

(ECL-C)