Braintree, Mass. -- Clean Harbors Inc. has entered an agreement regarding the potential sale of the chemical services division of Safety-Kleen Corp., Columbia, S.C., for $46.3 million. Clean Harbors expects the combined company to have annualized revenues of approximately $750 million, with about 4,400 employees and 38,000 customers.
Other interested parties may submit a bid by May 30, 2002, and if one or more bids is received, an auction will be held to determine the buyer.
Safety-Kleen currently is under Chapter 11 bankruptcy protection for the District of Delaware, which it filed voluntarily last June with 73 of its U.S. subsidiaries, according to Clean Harbors.