EXHIBIT 46
Company Press Release

Philip Services Corp.: Safety-Kleen Adjourns Vote on Merger Agreement with SK 
Parent

HAMILTON, Ontario--(BUSINESS WIRE)--Feb. 26, 1998--Philip Services Corp 
(NYSE:PHV - news: TSE:PHV - news: ME:PHV - news: NYSE:PHV - news) Philip
Services Corp. today announced that Safety-Kleen Corp. [NYSE:SK - news] has
adjourned to March 9, 1998 its special meeting of shareholders regarding the
approval of the merger agreement with SK Parent Corp., a company owned equally
by Philip, affiliates of Apollo Management, L.P. and affiliates of The
Blackstone Group.

"We remain committed to SK Parent's US$27 per share merger agreement and look
forward to the shareholder vote," said Allen Fracassi, President and Chief
Executive Officer. "This adjournment will provide additional time to solicit
proxies in favor of the merger and will allow the shareholders of Safety-Kleen
the opportunity to cast a fully informed vote."

Philip Services is an integrated metals and industrial services company with 
operations throughout the United States, Canada and Europe.  Philip provides
steel, copper and aluminum processing and recovery services, together with 
diversified industrial outsourcing services to all major industry sectors.