Safety-Kleen Environmental Raising Rates for Handling Used Oils

"We are again taking the necessary steps to address the continuing rapid decline in crude oil indices and base oil pricing. These adverse energy market dynamics are decreasing the values of our re-refined products and byproducts, as well as our recycled fuel oil," said Safety-Kleen Environmental Executive Vice President Kevin Hayden.

Clean Harbors, Inc. has announced that its Safety-Kleen subsidiary is raising its rate for managing used engine and industrial oils. Effective immediately, Safety-Kleen Environmental will be targeting an increase of $80 per stop with all customers across its used oil customer base.

"We are again taking the necessary steps to address the continuing rapid decline in crude oil indices and base oil pricing. These adverse energy market dynamics are decreasing the values of our re-refined products and byproducts, as well as our recycled fuel oil," said Safety-Kleen Environmental Executive Vice President Kevin Hayden. "This increase, which we will now be implementing in both the U.S. and Canada, is needed for Safety-Kleen to maintain the safe, reliable, and quality oil collection service we provide to more than 200,000 customers. Due to market conditions, our re-refining business has been under significant margin pressure for the past three years. We are committed to returning profitability in theSafety-Kleen segment to levels closer to historical norms. The actions we are announcing today are necessary to avoid further deterioration in our existing spread and an important step toward achieving stabilization in this business."

Through its Safety-Kleen subsidiary, Clean Harbors is North America's largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial, and automotive customers.

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