Clean Harbors Announces Acquisition of Universal Environmental
March 17 2008 - 8:30AM
Business Wire
Clean Harbors, Inc. (�Clean Harbors�) (NASDAQ: CLHB), the leading
provider of environmental and hazardous waste management services
throughout North America, today announced that it has acquired
privately held Universal Environmental, Inc., an environmental
services company headquartered near San Francisco in Benicia,
California with a site office in Sparks, Nevada. In conjunction
with the acquisition, the Company also is acquiring the land
surrounding the California office, which affords opportunities for
future expansion. With a team of nearly 100 employees, Universal
Environmental was profitable and generated approximately $15
million in revenue in 2007. Terms of the agreement were not
disclosed. �Universal Environmental is a successful regional
competitor in the environmental services sector,� said Alan S.
McKim, Chairman and Chief Executive Officer. �With its seasoned
management team and strong ties to the local community, Universal
is an ideal complement to our existing footprint. As our first Site
Services acquisition in more than 10 years, this reinforces our
strategic commitment to expand Site Services into new geographies.
In recent years, we have steadily expanded our presence in the
attractive West Coast market through office openings and the
addition of Universal�s assets will accelerate that effort.� �New
Site Services locations provide the opportunity to cross-sell to
our Technical Services accounts and generate higher volumes at our
disposal facilities,� McKim said. �We are excited about the
prospects for Universal, and expect this transaction to be
accretive to earnings in 2008.� About Clean Harbors, Inc. Clean
Harbors, Inc. is North America's leading provider of environmental
and hazardous waste management services. With an unmatched
infrastructure of 49 waste management facilities, including nine
landfills, six incineration locations and six wastewater treatment
centers, the Company provides essential services to over 45,000
customers, including more than 325 Fortune 500 companies, thousands
of smaller private entities and numerous federal, state and local
governmental agencies. Headquartered in Norwell, Massachusetts,
Clean Harbors has more than 100 locations strategically positioned
throughout North America in 36 U.S. states, six Canadian provinces,
Mexico 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, and involve risks and uncertainties. These
forward-looking statements are generally identifiable by use of the
words �believes,� �expects,� �intends,� �anticipates,� �plans to,�
�estimates,� �projects,� or similar expressions. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those reflected in these forward-looking statements. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which reflect management�s opinions only as of the date
hereof. The Company undertakes no obligation to revise or publicly
release the results of any revision to these forward-looking
statements other than through its various filings with the
Securities and Exchange Commission. Furthermore, all financial
information in this press release is based on preliminary data and
is subject to the final closing of the Company�s books and records.
A variety of factors beyond the control of the Company may affect
the Company�s performance, including, but not limited to: The
Company�s ability to manage the significant environmental
liabilities that it assumed in connection with the CSD and other
acquisitions; The availability and costs of liability insurance and
financial assurance required by governmental entities relating to
our facilities; The effects of general economic conditions in the
United States, Canada and other territories and countries where the
Company does business; The effect of economic forces and
competition in specific marketplaces where the Company competes;
The possible impact of new regulations or laws pertaining to all
activities of the Company�s operations; The outcome of litigation
or threatened litigation or regulatory actions; The effect of
commodity pricing on overall revenues and profitability; Possible
fluctuations in quarterly or annual results or adverse impacts on
the Company�s results caused by the adoption of new accounting
standards or interpretations or regulatory rules and regulations;
The effect of weather conditions or other aspects of the forces of
nature on field or facility operations; The effects of industry
trends in the environmental services and waste handling
marketplace; and The effects of conditions in the financial
services industry on the availability of capital and financing. Any
of the above factors and numerous others not listed nor foreseen
may adversely impact the Company�s financial performance.
Additional information on the potential factors that could affect
the Company�s actual results of operations is included in its
filings with the Securities and Exchange Commission, which may be
viewed on the Investor portal of the Company�s Web Page at
www.cleanharbors.com.
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