Companies Under Clean Harbors' Control: An Overview of Its Subsidiaries and Allied Businesses
Clean Harbors, a leading environmental solutions provider, is making significant strides in improving its proprietary product, Performance Plus, and developing advanced recycling technologies. The company, which serves a broad customer base including most Fortune 500 companies and government agencies, operates throughout North America, including locations across the United States, Canada, Mexico, and Puerto Rico.
The company's operations are divided into two segments: Environmental Services and Industrial Services. The Environmental Services segment drives growth through handling a wide variety of waste streams, planned and emergency industrial cleaning, environmental cleanup projects, and large-scale spill or disaster responses. Industrial Services provide additional cleaning and maintenance solutions for industrial customers.
One of Clean Harbors' most notable acquisitions is Safety-Kleen, a provider of environmental services and oil re-refining. This acquisition significantly expanded Clean Harbors' service portfolio, with Safety-Kleen demonstrating 9% growth driven by pricing gains and increased demand in parts washers, vacs, and material recycling. Safety-Kleen Sustainability Solutions (SKSS) supports the company's position as the largest re-refiner and recycler of used oil in North America.
Clean Harbors is also capitalizing on emerging opportunities in PFAS remediation, leveraging its high-temperature incineration capabilities and EPA guidance to address this growing environmental challenge.
Clean Harbors' financial results for the first quarter of 2023 are significant in shaping the market value and investor perceptions. The market value of Clean Harbors is influenced by investor confidence and the company's strategic market maneuvers. The company manages multiple hazardous waste landfills, which safely contain and isolate hazardous waste in the environment, and operates several incineration facilities for the thermal destruction of hazardous and non-hazardous wastes.
Clean Harbors has re-refined over 3.9 billion gallons of used oil, demonstrating a proactive approach in recycling and reducing environmental footprint. The company's services align with the environmental and public health needs of the communities they operate in, through collaboration with local authorities.
In summary, Clean Harbors' integrated service offering spans comprehensive hazardous waste management, emergency response, industrial cleaning, and recycling. The acquisition of Safety-Kleen drives growth in parts cleaning and sustainability solutions, while the company also aggressively pursues PFAS remediation as a key growth area. Clean Harbors provides essential services to maintain the environment and public safety, making significant contributions to reducing greenhouse gas emissions and promoting sustainability.
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- "Clean Harbors, Inc. Annual Report 2018." Clean Harbors, 2018, www.cleanharbors.com/investor-relations/financials/annual-reports/2018-annual-report.aspx.
- Due to the 9% growth in parts washers, vacs, and material recycling demonstrated by Safety-Kleen, a subsidiary of Clean Harbors, it is evident that technology played a crucial role in boosting the company's financial growth.
- With its aggressive pursuit of PFAS remediation, Clean Harbors is positioning itself as a leader in the field of environmental solutions, while simultaneously driving growth and contributing to the finance sector through sustainable and innovative technologies.
