Dive summary:
- Clean Harbors announced it is buying Safety-Kleen, a re-refiner and recycler of used motor oil products for $1.25 billion.
- Clean Harbors officials said they were interested in procuring Safety-Kleen to broaden their waste treatment services and expand solvent recycling capabilities.
- Safety-Kleen collects and processes about 200 million of gallons of used oil every year and has a plant in Indiana and one in Ontario, Canada.
From the article:
Waste management company Clean Harbors Inc said it will buy privately held Safety-Kleen Inc, which recycles used oil into motor oil, for $1.25 billion to capitalize on growing demand for such products.
Safety-Kleen, which provides trackside environmental services to various motor races including NASCAR, had in August revived its plans to go public and filed to raise up to $400 million. ...
