Clean Harbors to acquire base oil re-refiner Safety-Kleen

30 October 2012 17:03  [Source: ICIS news]

HOUSTON (ICIS)--Clean Harbors, a provider of environmental and industrial services signed an agreement to acquire Safety-Kleen, the largest re-refiner and recycler of used oil in North America, sources said on Tuesday.

Safety-Kleen said on Monday the transaction was valued at $1.25bn (€963m)

 As a re-refiner of used motor oils, Safety-Kleen has more than 200 locations throughout North America, with services into the US, Canada and Puerto Rico.

Safety-Kleen assets include the largest oil re-refinery in the world, located at its East Chicago, Indiana location. Safety-Kleen annually collects about 200m gal of used oil, most of which is returned into the marketplace as reusable motor oil.

The East Chicago refinery produces 800 bbl/day of Group I base oils and 4,200 bbl/day of Group II base stocks.

At its Breslau, Canada, refinery location, Safety-Kleen produces 700 bbl/day of Group I base oils and 1,200 bbl/day of Group II.

The acquisition is subject to approval by US and Canadian regulators, as well as other typical closing conditions, but is expected to be completed by year-end.

($1 = €0.77)

 


By: Judith Taylor
+1 713 525 2653



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