Nalco revenues up by ten per cent in first quarter

Nalco has taken a “positive” view of its performance in the first quarter of 2010 after reporting a ten per cent year-on-year increase in revenues.

The science company saw improved performance across its water, energy and air business units during the three-month period, while earnings before interest, taxes, depreciation and amortisation was $164 million (106.8 million), the best first quarter result in Nalco’s history.

Nalco chairman and chief executive officer Erik Fyrwald explained that the company’s improved efficiency and investments in technology and training have helped to improve business.

He added that the company will continue to work hard to cope with the challenging economic conditions, which is leading to increased raw material costs.

The executive added: “We are encouraged by signs that our end markets should continue to improve gradually through the rest of the year. Our longer term outlook remains very positive.”

Earlier this month, Nalco co-sponsored the Business for Environment Global Summit in Seoul as part of its ongoing commitment to support sustainability initiatives.