Leading cleaning and sanitation products company Ecolab Inc (ECL) has introduced its latest dry conveyor lubricant dubbed DryExx GS, designed for glass packaging on stainless steel or mixed conveyors used in the food and beverage processing plants and breweries.
DryExx GS is the latest addition to Ecolab's DryExx dry conveyor lubrication product range. The product is now available across the U.S., Europe and Canada. Besides DryExx GS, Ecolab has 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 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 GSoffers tangible cost savings by reducing water usage and associated treatment costs.
Minneapolis-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. Moreover, Ecolab is active on the acquisition front.
The resurgent food services market across the U.S. and Europe is expected to support Ecolab's operating results moving forward. The company also stands to benefit from the favorable market trends across food and beverage and healthcare segments. We currently have a Neutral recommendation on Ecolab, which is supported by a Zacks #3 Rank (Hold).
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