Tennant Company (NYSE: TNC), a world leader in designing, manufacturing and marketing of solutions that help create a cleaner, safer, healthier world, today announced that the U.K. Advertising Standards Authority (ASA) has made public its decision regarding challenges made against Tennant advertising by Karcher UK Ltd. The ASA rejected one advertising challenge and upheld another. In the end, the ASA determined that Tennant’s ec-H2O™ is an effective cleaning technology and a potential replacement to conventional cleaning chemicals for use in scrubber-dryers. Chris Killingstad, president and CEO of Tennant Company, stated, “Although competitors attempt to discredit our breakthrough technology through advertising challenges, the fact remains that ec-H2O cleans effectively, saves money, improves safety and reduces environmental impact. The ASA’s decision is consistent with these claims and the organization has affirmed the central benefits of ec-H2O.” In its decision, the ASA determined, based on the evidence supplied by Tennant, that consumers would be able to use ec-H2O in place of their chemical scrubber-dryers and that ec-H2O saved money and created only a fraction of the environmental impact associated with chemical-based floor cleaning. The ASA, therefore, determined that Tennant advertising did not exaggerate these key benefits of ec-H2O. The ASA upheld a single complaint after it determined that Tennant's evidence was not robust enough to support the claim that ec-H2O could remove more bacteria than chemical detergents. However, the ASA's expert advised that, based on four real-life studies, ec-H2O did on average lead to improved cleaning results compared to detergents in both reduction of organic materials and higher floor gloss. Satisfied Tennant customers remain the strongest testament to ec-H2O performance. These customers include many of the world’s largest, most sophisticated, and highly successful professional cleaning and facility service providers. As of the end of 2011, Tennant had more than 3,500 ec-H2O customers across the globe; 10,000 facilities using the technology; 30,000 ec-H2O scrubbers in use in the marketplace and $300 million (USD) in ec-H2O sales. For customer testimonials, third-party test results and the benefits of sustainable cleaning visit www.ec-H2Ofacts.com. Company Profile Minneapolis-based Tennant Company (NYSE: TNC) is a world leader in designing, manufacturing and marketing solutions that help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; water-based and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant's global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, Minn.; Holland, Mich.; Louisville, Ky; Uden, The Netherlands; the United Kingdom; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. For more information, visit http://www.tennantco.com.
The ex-dividend date for Tennant Company (NYSE:TNC) is Tuesday, May 29, 2012. Owners of shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $42.41 as of 9:30 a.m., the dividend yield is 1.6%.
Tennant Company (NYSE:TNC) hit a new 52-week high Thursday as it is currently trading at $47.53, above its previous 52-week high of $47.45 with 5,613 shares traded as of 9:55 a.m. ET. Average volume has been 110,500 shares over the past 30 days.