Thursday, July 02, 2009

Zep Commits To Be Smaller

Zep (NYSE:ZEP) a leading producer, marketer, and service provider of a wide range of cleaning and maintenance solutions has admitted defeat. Read this quote in their press release from John K. Morgan, Chairman, President and Chief Executive Officer of Zep Inc.

“As committed, Zep has adjusted to operate as a 15% smaller company due primarily to deteriorating economic conditions.”

Thanks for the heads up.