Nalco (NYSE:NLC) confirmed that it is providing oil dispersants and support to BP and the responders dealing with the oil spill in the Gulf of Mexico. The company will continue to provide these dispersants as requested for as long as responders have the need.
“To date sales related to these dispersants have not had a material financial impact on our company” Nalco Chairman and CEO Erik Fyrwald. “But it is impossible to predict at this time how long this incident will last or the magnitude of the overall response needed.”
“Our suppliers have shown us great support in getting us the raw materials we need” Fyrwald added. “This has really been an industry-wide effort to limit the impacts of the spill. We all are committed to helping the people and environment of the Gulf Coast recover as rapidly as possible.”
On Monday May 3 Dow Jones Newswire stated that shares of Nalco Holding Co. (NLC) leapt that day when BP PLC decided to use Nalco’s chemicals to help clean up the massive oil spill.
On May 5 Frywald appeared on CNBC and described how the dispersant works and how it will be applied – on the surface from boats and from the air and eventually injected to the source of the leak on the ocean bottom.