Pending pension legislation may impact Nalco's ability to offer the "lump sum" payment option.  He stated that Nalco will maintain the "lump sum" payment option....to keep people  from leaving.  Nalco plans to add money to the pension plan to bring it to the level required by the new pension legislation (guessed to be 80% funding) if the bill passes.

It appears that Clearing is being re-opened to a greater and greater extent as demand for Nalco products increases.

Bill Roe, Nalco COO, explained how Nalco was dealing with its debt.  The colorful Power Point presentation was in response to the Chicago Tribune article "Nalco awash in debt as returns flow to buyers".  Another Nalco management discussion of this can be found here.

Laurie Marsh discussed the Nalco health plan for 2006.  Key points were a) premiums for over 65 retirees will increase by approximately 2%, b) premiums for under 65 retirees will increase by approximately 14%, and C) Nalco will continue with the prescription drug plan for over 65 retirees.  Retirees should not choose the new Medicare Drug Plan (Part D).  Nalco's is better and signing up for Medicare Plan D prevents a retiree from using the Nalco benefit.

Mary Manupella, Vice President of Human Resources, discussed Nalco Disaster Relief Programs for the victims of Hurricane Katrina. Among the initiatives, Nalco will match contributions by employees and retirees to the American Red Cross.  Details can be found here.

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Nalco 1st Quarter 2004 Earnings.  Click here.

Ondeo Nalco Company (Nalco) today announced that Bradley J. Bell will join the company as Executive Vice President and Chief Financial Officer, effective as of the closing of the acquisition. Mr. Bell, 51, was most recently Senior Vice President and Chief Financial Officer for Rohm and Haas Company for six years where he had an active role in the delivery of organic and acquisition growth strategies.

A consortium  of three companies - The Blackstone Group (37%), Apollo Management L.P. (37%), and Goldman Sachs Capital Partners (25%) (see links below for details) has purchased all of Nalco, worldwide.  This includes acquisitions made by Suez prior to the purchase of Nalco which were integrated into the company. 

The purchase of Nalco should be finalized before the end of 2003.  At that time. the Ondeo name will no longer be used.  The Nalco "N" will return with, maybe, some graphic enhancements.   The consortium's intention is to take Nalco public in three to seven years.  The next key step is presentation to the bond rating agencies in a couple of weeks.  Bill Roe is the acting CEO.

Retiree's Health Cost premiums will rise as previously announced.  This year retirees are paying 30% of the health cost, will pay 40% in 2004, and 50% in 2005. 

The deal is final: September 4, 2003

Blackstone Group in the lead according to the Wall Street Journal of September 3, 2003.

A representative from OndeoNalco is expected to be there to discuss the status of things affecting the company..

Bill Marshall, retired Nalco Treasurer, has agreed to speak
about "Free Stock: The True Cause of the Crisis in Corporate Responsibility."

For more information on Bill (Will) Marshal please go to www.will-marshall.com/index.htm