SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
June 6, 2002
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(Date of earliest event reported)
SAFETY-KLEEN CORP.
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(Exact name of Registrant as specified in its charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
001-8368 51-0228924
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(Commission File No.) (IRS Employer Identification No.)
1301 Gervais Street, Suite 300, Columbia, South Carolina 29201
(Address of principal executive offices) (zip code)
(803) 933-4200
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On June 6, 2002 the registrant issued the press release filed with this Current
Report on Form 8-K as Exhibit 99.1. The information contained in Exhibit 99.1 is
incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description
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99.1 Press Release issued June 6, 2002 (Filed herewith.)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SAFETY-KLEEN CORP.
Date: June 7, 2002 By: /s/ James K. Lehman
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James K. Lehman
Senior Vice President, General Counsel and
Secretary
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued June 6, 2002 (Filed herewith.)
Exhibit 99.1
FOR IMMEDIATE RELEASE Media Contact: John Kyte
June 6, 2002 803-933-4224
SAFETY-KLEEN'S CHEMICAL SERVICES DIVISION BID DEADLINE PASSES; ONE QUALIFIED BID
RECEIVED
Columbia, S.C. - Safety-Kleen Corp. announced today that the bidding
deadline for the acquisition of its Chemical Services Division (CSD) passed last
Thursday with several bids received, but only one that has been determined to be
a "qualified bid" pursuant to the bidding procedures and requirements approved
by the Bankruptcy Court.
The qualified bid was received from Clean Harbors, Inc., consistent
with a previously announced definitive agreement reached between Safety-Kleen
and Clean Harbors in February 2002. Other bids were received by the May 30, 2002
deadline, including one from Onyx North America, but those bids have been
determined not to meet the requirements of a qualified bid.
As a result, Safety-Kleen will not conduct an auction of the CSD
assets, and the Clean Harbors bid will be presented to the Bankruptcy Court for
approval during a scheduled June 13 hearing.
Prior to submitting its bid, Onyx filed a motion with the Bankruptcy
Court, objecting to the proposed sale of the CSD, and seeking a 60-day delay in
the bidding deadline. Safety-Kleen filed its reply asking the Court to deny the
Onyx objection in its entirety. The Court has scheduled a hearing on the Onyx
request for June 10.
"We are pleased to be moving forward with the sale of the Chemical
Services Division," said Safety-Kleen Chairman, President and CEO Ronald A.
Rittenmeyer. "This is another important step in our efforts to successfully
emerge from bankruptcy protection."
About Safety-Kleen Corp.
Based in Columbia, South Carolina, Safety-Kleen Corp. is the largest
industrial and hazardous waste management company in North America, serving more
than 400,000 customers in the United States, Canada, Mexico and Puerto Rico.
Safety-Kleen Corp. is currently under Chapter 11 bankruptcy protection, which it
entered into voluntarily on June 9, 2000.
Private Securities Litigation Reform Act
Sections of this release constitute forward-looking statements that
involve a number of risks and uncertainties. Many factors could cause actual
results to differ materially from our expected results. These factors include
risks associated with the sale of the Chemical Services Division; emergence from
Chapter 11 bankruptcy protection; continued productive relations with creditors;
the continued availability of credit; changes in demand for the Company's
services; and competition.
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