NORWELL, Mass.--(BUSINESS WIRE)--Jul. 12, 2017--
Clean
Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of
environmental, energy and industrial services throughout North America,
today announced that its Safety-Kleen subsidiary is upwardly revising
its pricing related to managing the collection of used engine and
industrial oils. Effective immediately, Safety-Kleen is increasing the
cost of its charge-for-oil (CFO) program across its used oil collection
network, as well as increasing its service stop-fee for its stop-fee
program.
David Vergo, Safety-Kleen President, said, “The recent softness in crude
oil markets, along with the associated declines in fuel pricing, have
decreased the value of our recycled fuel oil (RFO) and other products.
This environment, coupled with chronic oversupply in the overall market,
have led us to increase our used motor oil disposal pricing rates in
order to mitigate the market-driven pressure on margins and avoid
further deterioration in our existing spread. The rate adjustments are
effective immediately or as contracts allow, across both the U.S. and
Canada, and will stay in effect until oil prices demonstrably
strengthen.”
“As we have done with past rate adjustments, Safety-Kleen is continuing
to address energy market drivers that affect those margins,” Vergo said.
“We believe these rate changes are needed for Safety-Kleen to continue
to deliver the safe, reliable and quality service we provide to more
than 200,000 customers throughout North America.”
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of
environmental, energy and industrial services. The Company serves a
diverse customer base, including a majority of the Fortune 500, across
the chemical, energy, manufacturing and additional markets, as well as
numerous government agencies. These customers rely on Clean Harbors to
deliver a broad range of services such as end-to-end hazardous waste
management, emergency spill response, industrial cleaning and
maintenance, and recycling services. Through its Safety-Kleen
subsidiary, Clean Harbors is also North America’s largest re-refiner and
recycler of used oil and a leading provider of parts washers and
environmental services to commercial, industrial and automotive
customers. Founded in 1980 and based in Massachusetts, Clean Harbors
operates throughout the United States, Canada, Mexico and Puerto Rico.
For more information, visit www.cleanharbors.com.
Safe Harbor Statement
Any statements contained herein that are not historical facts are
forward-looking statements within the meaning of thePrivate
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 future financial and operating results,
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. Clean Harbors undertakes no obligation to revise or publicly
release the results of any revision to these forward-looking statements
other than through its filings with the Securities and Exchange
Commission, which may be viewed in the “Investors” section of Clean
Harbors’ website at www.cleanharbors.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170712005641/en/
Source: Clean Harbors, Inc.
Customers:
Safety-Kleen
David
Vergo, 972-265-2000
President
David.Vergo@safety-kleen.com
or
Media:
Clean
Harbors, Inc.
Eric Kraus, 781-792-5100
EVP, Corporate
Communications & Public Affairs
Kraus.Eric@cleanharbors.com
or
Investors:
Clean
Harbors, Inc.
Jim Buckley, 781-792-5100
SVP, Investor Relations
Buckley.James@cleanharbors.com
