Date: October 3, 2002
Source: News Room
Safety-Kleen Corp. has completed an asset sale of one of its units, valued at $12.6 million. Safety-Kleen subsidiary 3E Company Environmental, Ecological and Engineering sold all of its assets to the newly formed 3E Company Acquisition Corp. Another unit, Safety-Kleen Systems Inc., completed the acquisition of 24.22% of 3E stock for a total of $625,0000, making it the sole owner of 3E stock. 3E provides hazardous materials information management and emergency response services for environmental health and safety managers. Prior to the sale of the company's chemicals services unit in September, Safety-Kleen and its non-bankrupt affiliates were one of the largest hazardous and industrial waste services enterprises in North America. The Columbia, S.C., company filed for Chapter 11 protection on June 9, 2000, listing assets of $4.45 billion and liabilities of $3.14 billion.
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