NAPERVILLE, Ill., Aug. 23, 2010 (GLOBE NEWSWIRE) -- Nalco (NYSE:NLC), providing essential expertise for water, energy and air, today announced the acquisition of substantially all of the businesses and assets of Fabrication Technologies, Inc. based in Casper, Wyo. Renamed Nalco Fab-Tech LLC, the company employs 60 people and designs, fabricates and installs complex injection and fluid treatment facilities. Nalco Fab-Tech backs the purpose-built equipment with on-site commissioning, start-up and operator training services.
Nalco Fab-Tech is the premier supplier of Enhanced Oil Recovery (EOR) mixing and injection equipment with references for alkali surfactant polymer, polymer, water and CO2 injection facilities throughout the United States and Canada. The acquisition of Nalco Fab-Tech allows Nalco to complete its integrated EOR solutions platform started in 2008 with the formation of TIORCO, a joint venture company between Nalco Company and Stepan Company.
The acquisition of Nalco Fab-Tech brings to Nalco critical engineering, project management and fabrication capabilities to complement its existing water treatment process expertise across a broad spectrum of industries. Nalco is now in a unique position to offer environmentally and economically sound solutions to oil and gas companies facing the challenge of using, treating and recycling produced water. In other industries, Nalco Fab-Tech complements other acquisitions completed recently by Nalco's Water and Process Services Division to extend its value-added services and offerings.
About TIORCO
TIORCO provides energy producers worldwide with integrated oil recovery processes by leveraging: TIORCO's 30 years of experience in EOR polymer and reservoir expertise; Nalco's extensive reach in global upstream energy markets and BrightWater® technology; and Stepan's EOR surfactant technology and global manufacturing capabilities. The benefit to customers is seamless sales and service channel and the first one-stop-shop approach to the EOR market, by offering: full EOR laboratory services; reservoir engineering and simulation, chemicals manufacturing, water treatment, emulsion breaking, specialized equipment and field services. This enables TIORCO the opportunity to identify and implement solutions that optimize oil recovery for the customer.
About Nalco
Nalco is the world's leading water treatment and process improvement company, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations. Nalco is a member of the Dow Jones Sustainability World Index. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion. For more information, visit www.nalco.com.
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This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: ability to generate cash, ability to raise capital, ability to refinance, the result of the pursuit of strategic alternatives, ability to execute work process redesign and reduce costs, ability to execute price increases, business climate, business performance, economic and competitive uncertainties, higher manufacturing costs, reduced level of customer orders, changes in strategies, risks in developing new products and technologies, environmental and safety regulations and clean-up costs, foreign exchange rates, the impact of changes in the regulation or value of pension fund assets and liabilities, changes in generally accepted accounting principles, adverse legal and regulatory developments, including increases in the number or financial exposures of claims, lawsuits, settlements or judgments, or the inability to eliminate or reduce such financial exposures by collecting indemnity payments from insurers, the impact of increased accruals and reserves for such exposures, weather-related factors, and adverse changes in economic and political climates around the world, including terrorism and international hostilities, and other risk factors identified by the Company. Accordingly, there can be no assurance that the Company will meet future results, performance or achievements expressed or implied by such forward-looking statements. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which the Company does not intend to update.