Eveready Inc.
TSX : EIS

Eveready Inc.

August 03, 2009 08:00 ET

Clean Harbors Completes Acquisition of Eveready

EDMONTON, ALBERTA--(Marketwire - Aug. 3, 2009) - Eveready Inc. (TSX:EIS) ("Eveready") is pleased to announce that, effective Friday, July 31, 2009, it completed a plan of arrangement (the "Plan of Arrangement") with Clean Harbors, Inc. ("Clean Harbors") whereby a wholly owned subsidiary of Clean Harbors acquired 100% of Eveready's outstanding common shares through a combination of cash and stock. Following completion of that acquisition, Eveready was amalgamated with the wholly-owned subsidiary of Clean Harbors.

The Arrangement

Pursuant to the Plan of Arrangement, holders of common shares of Eveready received at the effective time of the Plan of Arrangement in respect of each Eveready common share held (i) CAD $3.30 in cash; and (ii) 0.1304 of a share of Clean Harbors common stock.

Also pursuant to the Plan of Arrangement, all of the outstanding 7% convertible, unsecured subordinated debentures of Eveready were repurchased for $1,010 for each $1,000 aggregate face amount of such debentures held, plus accrued interest to, but excluding July 31, 2009 (i.e., the date that the Plan of Arrangement became effective.)

It is anticipated that the Eveready common shares and debentures, which are currently listed for trading on the Toronto Stock Exchange under the symbols EIS and EIS.DB, respectively, will be de-listed from the Toronto Stock Exchange on or about August 6, 2009.

About Clean Harbors

Clean Harbors is North America's leading provider of environmental, energy and industrial services now serving over 50,000 customers, including a majority of the Fortune 500 companies, thousands of smaller private entities and numerous federal, state and local governmental agencies.

Within Clean Harbors Environmental Services, the company offers Technical Services and Field Services. Technical Services provide a broad range of hazardous material management and disposal services including the collection, packaging, recycling, treatment and disposal of hazardous and non-hazardous waste. Field Services provide a wide variety of environmental cleanup services on customer sites or other locations on a scheduled or emergency response basis.

Within Clean Harbors Energy and Industrial Services, the company offers Industrial Services and Exploration Services. Industrial Services provide industrial and specialty services, such as high-pressure and chemical cleaning, catalyst handling, decoking, material processing and industrial lodging services to refineries, chemical plants, pulp and paper mills, and other industrial facilities. Exploration Services provide exploration and directional boring services to the energy sector serving oil and gas exploration, production, and power generation.

Headquartered in Norwell, Massachusetts, Clean Harbors now has more than 175 locations, including over 50 waste management facilities, throughout North America in 37 U.S. states, seven Canadian provinces, Mexico and Puerto Rico. The Company also operates international locations in Bulgaria, China, Sweden, Singapore, Thailand and the United Kingdom. For more information, visit www.cleanharbors.com.

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