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ecolab _ar01_entire
Ecolab acquired the remaining 50% of its European joint venture, making it a fully unified global company for the first time. This helped solidify Ecolab's position as the worldwide leader in commercial cleaning and sanitation solutions. However, 2001 presented many challenges, including a slowing US economy and the negative impacts of 9/11 on the travel and hospitality industries. Despite this difficult market environment, Ecolab was still able to grow sales 4% to a record $2.4 billion through investments in its sales force and new products. It also completed its acquisition of the remaining stake in its European joint venture, though this increased debt levels.
