[Photo:Clean Harbors CEO Alan McKim sits inside the Roush Fenway Racing #16 Sprint Cup NASCAR at Clean Harbors headquarters in Norwell, Mass., marking the Company’s acceleration into the high-performance motor oil market. On October 26, the Company announced the formation of its Kleen Performance Products business, which sells high-quality engine oils and lubricants, including the EcoPower and Performance Plus brands. The Roush Fenway Racing Team, the winningest team in NASCAR history, exclusively uses EcoPower, a superior blend of twice refined renewable oil that emits 85 percent less greenhouse gas emissions to produce than conventional refined crude oil. Josh Reynolds/AP Images for Clean Harbors’ Kleen Performance Products]
Clean Harbors, Inc., a leading provider of environmental, energy and industrial services throughout North America, today announced the formation of Kleen Performance Products, a new business unit dedicated to the research, development, sales and distribution of high-quality engine oils, lubricants and other automotive and industrial products.
This new Clean Harbors business will build on the Company’s 30-year record in the North American market for renewable oils and lubricants. Kleen Performance Products will offer a portfolio of products, including Safety-Kleen’s current EcoPower® branded lubricants and base oil produced with re-refined oil, and the Performance Plus line of full synthetic, synthetic blend and other finished lubricants. These diverse offerings position the new business unit to serve the fast-growing market for high-performing lubricants tailored for modern engines, while supporting the reduction of greenhouse gas emissions and carbon footprints.
“The formation of Kleen Performance Products will enable Clean Harbors to capitalize on untapped growth opportunities in an expanding market and dedicate more resources to product development, sales and customer service,” said Alan S. McKim, chairman and chief executive officer of Clean Harbors. “We are well-positioned for long-term growth, with demand for superior lubricants being driven by the modernization of industrial machinery, the resurgence of manufacturing and the next generation of more fuel efficient cars and trucks.
“Additionally, the creation of this standalone business and brand allows the Safety-Kleen organization to concentrate exclusively on its core business of environmental services, including the collection of approximately 220 million gallons of used oil annually,” McKim added.
The total global market for engine oils and lubricants is projected to grow from $140 billion in 2013 to $162 billion in 2019, according to research firm MarketsandMarkets. About 56 percent of this increase is expected to come from motor oil, engine lubricants and other transportation products.” reporting segment within its filings with the Securities and Exchange Commission (SEC).
