Restructuring Charges Push Nalco into the Red

Nalco reported a net loss of $29.2 million in the second quarter, compared with income of $44.2 million in the same period last year. Sales fell 6%, to $913.1 million, as declines in mining, primary metals, and gas well drilling markets added to “ongoing challenges in paper and manufacturing markets.” The 2009 quarter included restructuring charges totaling $24 million, as well as an asset impairment charge of $20 million. Sales fell in Nalco’s water and paper services divisions, but grew slightly in energy services due to strong growth in oil...

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