Nalco jumps after confirming role in Gulf oil cleanup

Nalco Holding Co., the world's largest provider of industrial water-treatment services, climbed the most in more than a year in New York after saying it's providing chemicals to disperse an oil spill in the Gulf of Mexico.

Nalco climbed $1.57, or 6.3 percent, to $26.30 at 2:35 p.m. in New York Stock Exchange composite trading. The shares earlier surged as much as 18 percent, the biggest intraday gain since Feb. 4, 2009.

The chemicals break up the oil into small particles that can be safely digested by bacteria living in the water, Chief Executive Officer J. Erik Fyrwald said today in an interview on CNBC television. Nalco, based in Naperville, has provided BP Plc and the government all the dispersant material it has and is working with suppliers to provide more, he said.

"To date, sales related to these dispersants have not had a material financial impact on our company," Fyrwald said today in a statement.