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Letter from the CEO and Chairman

Dear Investors:

Clean Harbors is the largest hazardous waste disposal company in North America.  Founded in 1980, Clean Harbors provides a comprehensive suite of environmental, energy and industrial services to more than 55,000 customers in 36 U.S. states, seven Canadian provinces, Mexico and Puerto Rico.  The Company also operates international locations in Bulgaria, China, Sweden, Singapore, Thailand and the United Kingdom.

For the past several years, the Company has grown substantially as we’ve successfully executed our corporate strategy which includes: expanding our service offerings and geographic coverage; cross-selling across segments; capturing large-scale projects; expanding throughput capacity; pursuing selective acquisitions; and implementing cost, pricing and productivity improvement initiatives.

2009 was another year of growth and achievement for Clean Harbors.  While navigating through the challenges brought on by the global recession, we generated record revenue of $1.07 billion and EBITDA of $157.6 million.  Demand for our environmental services was lower year-over-year, but our top-line was driven by our Eveready acquisition, which closed in the second half of the year.  The Eveready acquisition valued at more than $400 million was our largest since our Safety Kleen/CSD acquisition in 2002 and it reshaped our corporate profile by significantly expanding our service offerings and geographic footprint.

Looking ahead, we see many reasons for optimism as the world economy begins to stabilize and we fully capitalize on our Eveready acquisition.  I invite you to return to our website frequently for updates on our progress.  Thank you for your interest in Clean Harbors.

Sincerely,
Alan S. McKim
President, CEO and Chairman

 

 

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, and involve risks and uncertainties. These forward-looking statements are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements may include, but are not limited to, statements about the benefits of the acquisition of Eveready, including future financial and operating results, the combined company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Clean Harbors’ management and are subject to significant risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof. The Company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its various filings with the Securities and Exchange Commission. A variety of factors beyond the control of the Company may affect the Company’s performance, including, but not limited to:

  • The uncertain nature of the duration and scope of the Company’s involvement in the Gulf of Mexico emergency environmental response effort;
  • The Company’s ability to manage the significant environmental liabilities that it assumed in connection with prior acquisitions;
  • The availability and costs of liability insurance and financial assurance required by governmental entities related to the Company’s facilities;
  • General conditions in the oil and gas industries, particularly in the Alberta oil sands and other parts of Western Canada;
  • The possibility that the expected synergies from the acquisition of Eveready will not be timely or fully realized;
  • The extent to which the Company’s major customers commit to and schedule major projects;
  • The Company’s future cash flow and earnings;
  • The Company’s ability to meet its debt obligations;
  • The Company’s ability to increase its market share;
  • The effects of general economic conditions in the United States, Canada and other territories and countries where the Company does business;
  • The effect of economic forces and competition in specific marketplaces where the Company competes;
  • The possible impact of new regulations or laws pertaining to all activities of the Company’s operations;
  • The outcome of litigation or threatened litigation or regulatory actions;
  • The effect of commodity pricing on overall revenues and profitability;
  • Possible fluctuations in quarterly or annual results or adverse impacts on the Company’s results caused by the adoption of new accounting standards or interpretations or regulatory rules and regulations;
  • The effect of weather conditions or other aspects of the forces of nature on field or facility operations;
  • The effects of industry trends in the environmental services, energy and industrial services marketplaces; and
  • The effects of conditions in the financial services industry on the availability of capital and financing.

Any of the above factors and numerous others not listed nor foreseen may adversely impact the Company’s financial performance. Additional information on the potential factors that could affect the Company’s actual results of operations is included in its filings with the Securities and Exchange Commission, which may be viewed on www.cleanharbors.com/investor_relations.

Webcast

Listen to the broadcast of Clean Harbors’ Second-Quarter 2010 Financial Results Conference Call on Wednesday, August 4, 2010 at 9:00 a.m. ET.  launch webcast »

Learn more about Clean Harbors' energy and industiral services using our interactive service map

View interactive service map »

Corporate Offices

Clean Harbors, Inc.
42 Longwater Drive
P.O. Box 9149
Norwell, MA 02061-9149
781.792.5000
Directions to Corporate Office

Chairman and CEO

Alan S. McKim
Since 1980

Stock

Clean Harbors stock is traded on the NYSE stock exchange under the symbol CLH.

The data contained in this section of the Web site is provided by The NYSE Euronext as an informational convenience only.  Clean Harbors neither represents nor warrants that the data accumulated and published by The NYSE Euronext is accurate and complete.  Clean Harbors assumes no liability for any inaccuracies, errors or omissions in or from any data or other information provided on these pages, or for any actions taken in reliance on any such data or information.


 

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