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Clean Harbors Inc. Message Board

  • eib81755 eib81755 Feb 13, 2001 9:13 PM Flag

    Re: Safety-Kleen pt 2

    They would have sold for assets if it had any value. Obviously no takers. Probably costs too much to upgrade to MACT standards. This makes Ross and WTI the closest Eastern US incinerators.

    It would be great for CLHB if they can retire a significant portion of debt. From their earnings (i.e., lack of) over the last 5 years it is hard to see where it would come from.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I think the key point(s) here are:
      1) the bankruptcy of SK has led to meaningful capacity reduction and/or consolidation throughout the system
      2) CLHB will benefit from either:
      - improved pricing
      - acquisition of attractive assets at favorable prices
      - improved volumes
      - lower resource costs

      I just hope that McKim doesn't give away the store to get the Senior Notes refinanced. If the refinancing must include an equity component, I would like the existing equity holders to have the opportunity to ante up additional equity capital rather than have some dilutive deal rammed down our throats. That is why a rights offering is the most fair.
      If we can just get the debt reduced by a little, then there will be excess cash flow to continue paying it down. Deleverage.

 

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