NORWELL, Mass.--(BUSINESS WIRE)--Apr. 25, 2014--
Clean
Harbors, Inc. (NYSE: CLH), the leading provider of environmental,
energy and industrial services throughout North America, today commented
on the April 24, 2014 filing of a Schedule 13D by Relational Investors,
LLC (“Relational”), which stated that Relational owns 9.08% of Clean
Harbors’ common stock.
Chairman and Chief Executive Officer Alan S. McKim, said, “Clean Harbors
has a long history of transparency and open communications with
shareholders. Our Board of Directors and management team are committed
to building long-lasting value for all of Clean Harbors shareholders and
we welcome their investment in the Company.”
“Clean Harbors has a proven track record of delivering value to our
shareholders. In fact, over the past decade, our stock has outperformed
the S&P 500 by more than 12 times during that timeframe. Led by our
management team, we have achieved our outstanding long-term performance
through a combination of targeted acquisitions and steady expansion
through organic growth.”
“In the past two months, we have held positive discussions with
Relational. Their investment in Clean Harbors demonstrates their
agreement with us that there is additional value in our Company. We
agree with Relational’s statements regarding our strong position in the
hazardous waste market and their endorsement of our plan to continue to
invest in capacity expansion in these businesses. Relational supports
our efforts to expand our margins and improve asset utilization to
create superior equity value. We are closely aligned with that viewpoint
as we continue to work toward our previously stated long-term objective
of achieving 20% Adjusted EBITDA margins.”
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of
environmental, energy and industrial services. The Company serves a
diverse customer base, including a majority of the Fortune 500, across
the chemical, energy, manufacturing and additional markets, as well as
numerous government agencies. These customers rely on Clean Harbors to
deliver a broad range of services such as end-to-end hazardous waste
management, emergency spill response, industrial cleaning and
maintenance, and recycling services. Through its Safety-Kleen
subsidiary, Clean Harbors also 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. Founded in 1980 and based in Massachusetts, Clean Harbors
operates throughout the United States, Canada, 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. These forward-looking statements are
generally identifiable by use of the words “believes,” “expects,”
“intends,” “anticipates,” “plans to,” “estimates,” “projects,” or
similar expressions. Such statements may include, but are not limited
to, statements about future financial and operating results, and other
statements that are not historical facts. Such statements are based upon
the beliefs and expectations of Clean Harbors’ management as of this
date only and are subject to certain risks and uncertainties that could
cause actual results to differ materially, including, without
limitation, those items identified as “risk factors” in Clean Harbors’
most recently filed Form 10-K and Form 10-Q. Therefore, readers are
cautioned not to place undue reliance on these forward-looking
statements. Clean Harbors undertakes no obligation to revise or publicly
release the results of any revision to these forward-looking statements
other than through its filings with the Securities and Exchange
Commission, which may be viewed in the “Investors” section of Clean
Harbors’ website at www.cleanharbors.com.
Source: Clean Harbors, Inc.
Clean Harbors, Inc.
James M. Rutledge, 781-792-5100
Vice
Chairman, President and CFO
InvestorRelations@cleanharbors.com
or
Jim
Buckley, 781-792-5100
SVP Investor Relations and Corporate
Communications
Buckley.James@cleanharbors.com
