Clean Harbors Announces Acquisition of Evergreen Oil
Company Acquires One of California’s Largest Waste Oil Collectors and
Environmental Services Operator with
The acquisition of Evergreen Oil is beneficial to
-
expands Clean Harbors’ geographic footprint in re-refining to include
coverage in the Western U.S. – complementing its
Indiana facility in the Midwest andBreslau facility inEastern Canada ; -
provides
Clean Harbors with the second-largest collector of waste oil inCalifornia ; and -
provides
Clean Harbors with a number of valuable ancillary waste assets, including a permitted Treatment, Storage and Disposal Facility (TSDF).
“Our acquisition of Evergreen aligns well with our Safety-Kleen
re-refinery and environmental businesses, and creates multiple
opportunities for profitable growth,” said
“We believe that we are purchasing this asset at a favorable price for
our shareholders,” McKim said. “While we plan to invest some capital
into the re-refinery to enhance its layout and productivity, the plant
is relatively new, with major portions of it having been rebuilt
following a fire at the facility in 2011. In addition to the
re-refinery, the purchase includes rolling stock and equipment, a
diverse roster of
“We are excited about the overall potential for the Evergreen assets.
Given our acquisition expertise and track record, we are confident that
our integration teams can realize substantial upside potential from our
combined company. We look forward to welcoming Evergreen’s employees
into the
About
Headquartered in
Safe Harbor Statement
Any statements contained herein that are not historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
generally identifiable by use of the words “believes,” “expects,”
“intends,” “anticipates,” “plans to,” “estimates,” “projects,” or
similar expressions. Such statements may include, but are not limited
to, statements about the benefits of the acquisition of Evergreen and
other statements that are not historical facts. Such statements are
based upon the beliefs and expectations of Clean Harbors’ management as
of this date only and are subject to certain risks and uncertainties
that could cause actual results to differ materially, including, without
limitation, those items identified as “risk factors” in Clean Harbors’
most recently filed Form 10-K and Form 10-Q. Therefore, readers are
cautioned not to place undue reliance on these forward-looking
statements.
Source:
Clean Harbors, Inc.
James M. Rutledge, 781-792-5100
Vice
Chairman, President and CFO
InvestorRelations@cleanharbors.com
or
Jim
Buckley, 781-792-5100
SVP Investor Relations and Corporate
Communications
Buckley.James@cleanharbors.com