Ecolab 2 0 0 1 A n n u a l   R e p o r t TABLE OF CONTENTS: Overview Description of Business Financial Highlights To Our Shareholders One Company, One World Review of Operations - Intro Review of Operations - Institutional     Review of Operations - Kay     Review of Operations - GCS Services     Review of Operations - Pest Elimination     Review of Operations - Professional Products     Review of Operations - Textile Care     Review of Operations - Food & Beverage     Review of Operations - Water Care Services     Review of Operations - Vehicle Care     Review of Operations - Europe     Review of Operations - Asia Pacific     Review of Operations - Canada     Review of Operations - Latin America     Review of Operations - Africa/Export Financial Discussion - Introduction     Financial Discussion - 2001 Overview     Financial Discussion - Critical Accounting Policies & Estimates     Financial Discussion - Operating Results     Financial Discussion - Operating Segment Performance     Financial Discussion - Henkel-Ecolab Corporate     Financial Discussion - Financial Position, Cash Flows and Liquidity     Financial Discussion - Market Risk & Subsequent Events     Consolidated Statement of Income     Consolidated Balance Sheet     Consolidated Statement of Cash Flows     Con State of Comprehensive Income and Shareholders' Equity         Note 1. Nature of Business         Note 2. Summary of Significant Accounting Policies         Note 3. Special Charges         Note 4. Henkel-Ecolab         Note 5. Business Acquisitions and Divestitures         Note 6. Balance Sheet Information         Note 7. Financial Instruments         Note 8. Shareholders' Equity         Note 9. Stock Incentive and Option Plans         Note 10. Income Taxes         Note 11. Rentals and Leases         Note 12. Research Expenditure         Note 13. Commitments and Contingencies         Note 14. Retirement Plans         Note 15. Operating Segments         Note 16. Quarterly Financial Data     Management and Accountants' Report     Summary Operating and Financial Data Board of Directors and Officers Shareholder Information Shareholder Services

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onecompany

oneworld

One thing is clear: When it comes to delivering premium commercial cleaning and sanitizing solutions on a truly global basis, Ecolab is the one. No other company comes close to rivaling our worldwide reach or the extraordinary breadth of products, systems and services we offer. We meet the varied and specialized needs of thousands of diverse businesses and institutions in North America, Europe, Asia, Latin America, Africa, the Middle East ­ the list of countries in which we do business reads like an atlas. In 2001, we took decisive actions to ensure that Ecolab remains No. 1 in the world for many years to come. This report outlines these actions.

		onegoal To exceed customer expectations every day. Dedicated. Passionate. Reliable. The men and women of Ecolab are your partners in success. Around the globe, we recruit top-notch individuals and train them to be experts in their field. Our people are problem-solvers who never say "never" and always strive for excellence - nothing less. Your business is their business, and they are constantly motivated by their No. 1 concern: You.
		oneresult Unbeatable performance time after time. Powerful. Easy to use. Safer for employees. Ecolab products and systems are all these things and more. We combine the industry's most advanced chemistry with cutting-edge dispensing technology. What you get are offerings that not only meet your every cleaning and sanitizing challenge, but uniquely deserve to be called solutions. And you'll always get results you can count on. Guaranteed.
		onepassion Creating entirely new concepts of clean. Ingenious. Insightful. Innovative. Ecolab's research, development and engineering experts imagine the possibilities and make them a reality. Never content with the status quo, we strive for constant improvement, so far earning nearly 2,600 patents worldwide. And we boast the industry's most sophisticated R&D facilities ­ where breakthroughs happen every day.
		onepromise Expert service whenever you call. Repairs. Training. Support. The word "service" encompasses many things. Only Ecolab does it all. Our skilled field associates are fast, professional and trustworthy. They troubleshoot problems and fix them on the spot. They teach your employees to properly use our products and systems. They do whatever it takes to keep your business running smoothly ­ and nobody does it better.
		onevision Tools to keep you connected. Indispensable. State-of-the-art. Exciting. Ecolab is taking cleaning and sanitation into the realm of high technology. From hardware to software and everything in-between, we're putting the most revolutionary new business tools into the hands of our associates and customers. We're improving results and increasing efficiency. It's our competitive edge ­ and your secret advantage.

Overview | Description of Business | Financial Highlights To Our Shareholders | Review of Operations | Financial Discussion Board of Directors and Officers | Shareholder Information | Shareholder Services

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