Clean Harbors, a top provider of environmental and industrial services across North America, announced new pricing adjustments within its Safety-Kleen subsidiary for collecting and processing used engine and industrial oils. Effective immediately, these rate increases will impact a broad segment of its used oil customers.
“Pricing declines in base oil, vacuum gas oil (VGO), and recycled fuel oil (RFO) have substantially reduced the value and returns on our re-refined products,” stated Brian Weber, President of Safety-Kleen Sustainability Solutions (SKSS). With ongoing challenges from softened crude oil prices, Weber emphasized the need for these rate adjustments to mitigate financial pressures on SKSS. The increases will apply to both U.S. and Canadian customers, along with an expanded stop fee program to help cover rising transportation and labor costs.
“These changes are crucial for Safety-Kleen to continue providing safe, compliant, and reliable waste oil collection services to over 100,000 North American customers annually,” Weber added.
About Clean Harbors
Clean Harbors (NYSE: CLH) is a leading environmental and industrial service provider in North America, catering to Fortune 500 companies and various industries like chemical, manufacturing, and refining, as well as government agencies. Through its Safety-Kleen subsidiary, it is also the largest re-refiner and recycler of used oil in North America. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the U.S., Canada, Mexico, Puerto Rico, and India. For more information, visit Clean Harbors.
Safe Harbor Statement
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, identifiable by words like “expects,” “anticipates,” or “may.” These statements reflect management’s beliefs and expectations as of the release date and involve risks and uncertainties, as detailed in Clean Harbors’ latest filings on Form 10-K and Form 10-Q. Clean Harbors is not obligated to update any forward-looking statements except through SEC filings.
