Leading cleaning and sanitation products maker Ecolab Inc (ECL) reported that its dry conveyor lubricant, DryExx GS, has clinched the best product design award at the 2011 Social Innovation Awards in London.
The Social Innovation Awards, hosted by leading news distribution and social networking service provider “JustMeans,” is an international award for rewarding companies employing innovative strategies and programs in support of a more socially conscious future.
Ecolab introduced DryExx GS in November 2010 across the U.S., Europe and Canada. The product is designed for glass packaging on stainless steel or mixed conveyors used in the food and beverage processing plants and breweries. Besides DryExx GS, Ecolab also launched a novel control system to help food and beverage plants and breweries streamline production line operations.
DryExx GS, when used along with the company’s control system, significantly reduces (as much as 97%) water use in conveyor lines in food and beverage processing, increases conveyor efficiency and improve workplace safety. Moreover, DryExx GS offers tangible cost savings by reducing water usage and associated treatment costs. The award represents a recognition of the product’s impressive ability in reducing water usage in production lines.
Minnesota-based Ecolab develops and markets products and services for the hospitality, foodservice, institutional and industrial markets. The company offers cleaning, sanitation, pest elimination, maintenance and repair products as well as systems and services.
Ecolab is a leader in cleaning, sanitizing, pest elimination and food safety products and services with revenues of $6 billion. The company’s lubrication solutions represent a part of its Food & Beverage business offerings. Ecolab’s U.S.Cleaning & Sanitizing (“USCS”) and International divisions face stiff competition from Clorox (CLX) and Church & Dwight (CHD).
To boost growth, Ecolab continues to invest in strategic areas such as, product innovation, healthcare, water and energy and global pest elimination while rationalizing operating costs. The company remains focused on bringing new technologies aimed at reducing food safety risks.
Although we are impressed with Ecolab’s strong international exposure, we remain concerned about intense competition. Moreover, Ecolab’s aggressive acquisition strategy has inherent integration risks. Currently, we are Neutral on Ecolab, backed by a Zacks #3 Rank (Hold).
CHURCH & DWIGHT (CHD): Free Stock Analysis Report
CLOROX CO (CLX): Free Stock Analysis Report
ECOLAB INC (ECL): Free Stock Analysis Report
Zacks Investment Research
