Ecolab has announced the successful completion of the acquisition of Champion Technologies and its related firm Corsicana Technologiews for US$2.3 billion.
The transaction was scheduled to be completed last 2012 but reviews as to anti-trust regulations need to be conducted by the US Justice Department. As such, the companies extended the agreement several times until finally the April 15th deadline was achieved through a concent agreement entered into by the companies and the Justice Department.
Champion Technologies is a specialty chemical company based in Houston, TX. It offers a portfolio of sustainable chemistry, technology and support services for the global oil and gas industry. The company has operations in thirty countries around the world and has an employee headcount of 3,200. In 2012, total sales of the company reached US$1.3 billion.
With the acquisition, Ecolab is poised to lead the oilfield chemical business and reduce the competition to another recently acquired company, Nalco.
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