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Clean Harbors to Increase Emphasis on Lube Blending

Monday, January 26, 2015   (0 Comments)
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NORWELL, Mass.--(BUSINESS WIRE)--Jan. 20, 2015--Clean Harbors, Inc. announced that it will substantially increase its focus on blended oil opportunities within its Oil Re-refining and Recycling segment and, as part of this effort, create a separate business within that segment.  Jerry E. Correll  has been appointed President of this new business.

“Jerry will oversee the transition of recycling and re-refining from a business that produces a majority of base oil to one that manufactures many products from our recycling and re-refining process,” Mr. McKim said. “Near-term, Jerry and his newly reorganized team also will work to protect and expand our margins by implementing a number of strategies, such as the recent Zero Pay rate structure change for its purchase of used engine and industrial oils, and by lowering overall transportation costs.

“Since the purchase of Safety-Kleen, our objective has been to significantly increase the percentage of blended products in the re-refinery business,” Mr. McKim said. “Today’s announcement reflects our intention to accelerate that transition. Under Jerry’s leadership, we hope to realize higher returns from this business, further differentiate the EcoPower brand, increase the sustainability of our re-refining profits and distance ourselves from the inherent volatility of the base oil market.”

Mr. Correll joined Clean Harbors in 2002, in conjunction with the Company’s acquisition of Safety-Kleen’s Chemical Services Division. He has held a number of management positions at Clean Harbors, including Senior Vice President, Sales, for Environmental Services. Prior to joining the Company, Mr. Correll served in various sales and operations management positions at Safety-Kleen, including Senior Vice President, Sales; Vice President, Corporate Accounts; and Regional Vice President – Central U.S. Operations. He was named President of Safety-Kleen in April 2013.

 

About Clean Harbors

Clean Harbors(NYSE: CLH) 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 onClean Harborsto 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 also is North America’s largest recycler and re-refiner 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 StatesCanadaMexico 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 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 its planned carve-out of its Oil and Gas and drill camps businesses and 2015 Adjusted EBITDA guidance, 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 theSecurities and Exchange Commission, which may be viewed in the “Investors” section of Clean Harbors’ website at www.cleanharbors.com.

Source:Clean Harbors, Inc.

Clean Harbors, Inc.
Eric Kraus, 781-792-5100
EVP Corporate Comm. & Public Affairs
Kraus.Eric@cleanharbors.com
or
Jim Buckley, 781-792-5100
SVP Investor Relations
Buckley.James@cleanharbors.com


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