Clean Harbors Prepares To Acquire Safety-Kleen Division

Date: August 29, 2002

Source: News Room

Clean Harbors Inc. (NasdaqNM: CLHB) expects to complete its acquisition of Safety-Kleen Corp.'s Chemical Services Division by the end of this week. In June, Safety-Kleen Corp. (SKLNQ) won approval to sell its chemical services unit to Clean Harbors, which is purchasing the division for $46.3 million in cash, plus the assumption of about $265 million in environmental liabilities. Safety-Kleen, based in Columbia, S.C., 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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