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)
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