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Article: United States: Nalco s Expanded Horizons.(Company overview)
- Article from:
- TendersInfo
- Article date:
- September 15, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: datta03
WHEN J. ERIK FYRWALD took the helm of Nalco Holding in February 2008, he found a company saddled with heavy debt, facing a recession and lacking a clear strategy.
Established in 1928 as a water-treatment business, the $4.2 billion outfit in Naperville, Ill., found itself, 80 years later, just emerging from a turbulent decade in which it had changed hands several times. At one point owned by the French water-services group Suez Lyonnaise des Eaux, Nalco was sold in 2003 to a consortium of private-equity firms in a leveraged buyout, then taken public the following year. By 2007, several secondary offerings had eliminated the private-equity ...