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Clean Harbors, Inc. (“Clean Harbors”)
CLH, the leading provider of
environmental, energy and industrial services throughout North America, today
announced that it has acquired Evergreen Oil, Inc. out of bankruptcy through
the U.S. Bankruptcy Court for the Central District of California. Evergreen
Oil is a California-based environmental services company that is one of the
state's largest collectors of waste oil and runs the only re-refinery in the
state. Clean Harbors is funding the $60 million transaction through available
cash on its balance sheet.
The acquisition of Evergreen Oil is beneficial to Clean Harbors on a number of
fronts:
* expands Clean Harbors' geographic footprint in re-refining to include
coverage in the Western U.S. – complementing its Indiana facility in the
Midwest and Breslau facility in Eastern Canada;
* provides Clean Harbors with the second-largest collector of waste oil in
California; and
* provides Clean Harbors with a number of valuable ancillary waste assets,
including a permitted Treatment, Storage and Disposal Facility (TSDF).
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