Nalco Reports Sales Impact of Gulf Response, Solicits Funding Inquiries
Nalco announced Monday that its efforts to meet Gulf oil spill respondent requests for dispersants will have generated about $40 million in sales by the end of the week, or a level equivalent to approximately 1 percent of expected 2010 Company revenues.
Nalco's oil dispersants act like dishwashing soap to separate and break apart oil so it will be more readily digested by oil-consuming microorganisms. This process naturally biodegrades both the oil and dispersants.
Recognizing the broad impact of the spill on the Gulf region, Nalco will donate $2 million to the Nalco Foundation, that the Foundation has committed to donating to organizations conducting relief and clean-up efforts.
"This is truly a devastating situation, and we recognize the urgent need for large-scale support to combat the ongoing effects of the incident," said Nalco Chairman and Chief Executive Officer Erik Fyrwald. "We have focused our efforts in recent weeks on increased dispersant production at the expense of normal growth pursuits but believe it is our corporate responsibility to both respond to the federal agencies working to minimize the effects of this spill and assist those who live along the Gulf Coast and derive their livelihood from the region."
Not-for-profit organizations interested in applying for funding should send an e-mail to email@example.com for additional details.