Clean Harbors Announces Price Increase Across All Service Lines - Single-Digit Price Increase to Counter Rising Operating Costs and Capital Investments
Norwell, MA – February 15, 2007 – Clean Harbors Environmental Services, Inc. (“Clean Harbors”), the leading provider of environmental and hazardous waste management services throughout North America, today announced that it will begin implementing prices increases on March 15 across all service lines.
“Clean Harbors is committed to providing our customers with the highest quality environmental services in our industry,” said David M. Parry, Executive Vice President, Sales & Service. “We are proud to report we exceeded our compliance and health and safety goals for the fourth consecutive year. As a safety conscious company we are particularly pleased to report that we achieved our lowest Total Recordable Incident Rate (TRIR) in the past 25 years. To consistently enhance our services, we continually invest in our facilities, transportation fleet, and service capabilities. In 2006, we added substantial incineration capacity, constructed several secure landfills, upgraded numerous facilities and expanded our transportation fleet. We also have allocated $40 million in 2007 for capital expenditures to maintain and improve our safety and service reliability.”
“While we have succeeded in driving out significant costs from our operations, we are still facing outside cost pressures in labor, healthcare and insurance expenses, as well as the increased costs of many goods and services we purchase. As a result of the combination of these costs with our need to invest capital to maintain our state-of-the-art infrastructure, we are implementing a 3.6% average price increase for 2007. This increase will apply to all service lines (with certain variations) and will be executed over the next 30 days.”
Mr. Parry emphasized, “We remain dedicated to managing the safest, most compliant network of environmental operations, while providing the most responsive, reliable services available for our customers. We appreciate and thank you for your business and look forward to serving your needs in 2007.”
Customers are directed to contact their Account Manager or our local service office with any questions on the new pricing.
About Clean Harbors Environmental Services, Inc.
Clean Harbors Environmental Services, 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 37 U.S. states, six Canadian provinces, Mexico and Puerto Rico. For more information, visit www.cleanharbors.com.