Clean Harbors Retains Deutsche Banc Alex Brown Securities as Financial Advisor
Last Updated: 5:00 PM ET 10/25/2000
BRAINTREE, Mass., Oct 25, 2000 (CLHB) One week after announcing record 3rd quarter earnings, Clean Harbors today announced the engagement of Deutsche Banc Alex Brown (DBAB) to act as financial advisors.
In making the announcement, Alan S. McKim, President and CEO said: "Clean Harbors is anticipating a record year in 2000. Our revenues, EBITDA and total profit should be the best in our 20-year history. Now, the Company is turning its attention to refinancing its $50 Million Senior Notes which mature on May 15, 2001. DBAB will be working with the Company in evaluating various debt and equity options. DBAB has significant experience in the environmental services industry and has broad capabilities to assist Clean Harbors in refining and executing its financial strategy. DBAB is also well acquainted with Clean Harbors. Members of DBAB's financial advisory team have worked with Clean Harbors on a variety of investment banking assignments over the past ten years, including the placement of the $50 Million Senior Notes in 1994 and the $10 Million Economic Development Revenue Bonds in 1996."
Clean Harbors, Inc., is a national environmental services corporation providing a wide range of industrial waste management and environmental clean-up services to a diversified customer base including a majority of the Fortune 500 companies and numerous Federal, state and local government agencies and thousands of smaller entities.
The Company currently has service and sales offices located in 27 states and Puerto Rico, and operates 12 waste management facilities strategically located throughout the country.
This release includes forward-looking statements that attempt to predict or forecast future events or results and depend on future events for their accuracy. These forward-looking statements and the Company's business and prospects are subject to risks and uncertainties, any of which could cause actual results to differ materially from expected results; including, among other things, the outcome of litigation or administrative proceedings, obtaining or maintaining of governmental permits and approvals required for the operation of its facilities and changes in the laws and regulations governing the Company's operations. These and other risks and uncertainties are described in more detail in the Company's Annual Report on Form 10-K for the year ended December 31, 1999 and in the Company's subsequent SEC filings.
CONTACT: Clean Harbors, Inc. Roger Koenecke, CFO (781) 849-1800, ext. 1160 |
