Date: September 12, 2002
Source: News Room
Clean Harbors, Inc. (Nasdaq: CLHB) has completed the acquisition of Safety- Kleen Corp.'s Chemical Services Division and secured $260 million in financing. As a result of the acquisition, Clean Harbors will be on pace to achieve annualized revenues of approximately $750 million, and will have 4,400 employees and 38,000 customers, including a vast majority of the Fortune 500. Clean Harbors purchased the division for $34.3 million in cash and the assumption of certain environmental liabilities valued at approximately $265 million. The company had originally announced a cash component of $46.3 million, which was reduced prior to closing, primarily due to a reduction in the amount of working capital assumed. More information: www.cleanharbors.com.
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