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
January 18, 2000
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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 001-8368 51-0228924
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(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
1301 Gervais Street, Suite 300,
Columbia, South Carolina 29201
(Address of principal executive offices, including 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)
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Item 5. Other Events
On January 18, 2000, Safety-Kleen Corp. (NYSE:SK) announced that it
will appeal the January 17, 2000 decision of the South Carolina Court of Appeals
related to various financial assurance, capacity and other issues at its
Pinewood, South Carolina facility. The full text of the announcement is
reproduced below.
For Immediate Release
S.C. COURT OF APPEALS FINDS SAFETY-KLEEN'S LANDFILL EXCEEDS
REGULATORY REQUIREMENTS
Columbia, S.C., -- January 18, 2000 -- Safety-Kleen Corp. (NYSE: SK), formerly
Laidlaw Environmental Services, Inc., announced today that it will appeal the
January 17, 2000 decision of the South Carolina Court of Appeals related to
various financial assurance, capacity and other issues at its Pinewood, South
Carolina facility. Although Safety-Kleen has technical concerns with the
opinion, the fundamental issue of safety was resolved in favor of the Company.
The Court unanimously disagreed with the allegation of potential harm to the
environment from the Pinewood facility. The Court stated the landfill's design
and monitoring system "exceeded the regulatory requirements."
The Court also found that the South Carolina Department of Health and
Environmental Control ("DHEC") regulations, which allow companies to provide
financial assurance for potential environmental impairment through financial
instruments such as letters of credit and insurance, were invalid due to a
procedural technicality. The ruling would allow DHEC to require cash for
financial assurance. While the Court recognized that the South Carolina General
Assembly had approved the regulations' substantive content of the financial
assurance provision, the Court failed to find that the statutory public notice
provisions had been fulfilled..
"Requiring cash for financial assurance would set a draconian and unprecedented
standard for our facility and hundreds of other businesses across the State,"
explained Henry H. Taylor, Vice President and General Counsel of Safety-Kleen
Corp. "We anticipate the General Assembly will reaffirm its earlier decision to
allow companies to choose and the State Treasurer to review the financial
mechanism," added Taylor.
"The South Carolina Court of Appeals has chosen to apply a more stringent
definition to our facility concerning non-hazardous waste than that required by
the United States Congress, the United States Environmental Protection Agency,
the South Carolina General Assembly or the South Carolina Department of Health
and Environmental
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Control," said Taylor. Safety-Kleen Corp. is very much concerned with this new,
more stringent standard, which if applied would reduce the facility's capacity,
and will pursue appropriate available alternatives to ensure a reasonable
outcome for this issue.
Safety-Kleen Corp., headquartered in Columbia, S.C., is the leading industrial
waste service company for both hazardous and non-hazardous waste streams. From
collection through recycle and disposal, the Company provides comprehensive
waste management services to over 400,000 customers in North America.
Additional Information
The Court decision held that all non hazardous waste should be included
in the calculation of hazardous waste disposal at the Pinewood facility. The
Company has determined that the Court's interpretation could result in the
exhaustion of currently available air space at the facility. The Company does
not agree with the Court's interpretation and will appeal the decision. The
Company will also pursue all available legal, legislative, and regulatory means
to maintain landfill operations at the Pinewood facility.
For further information, please contact:
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Henry H. Taylor, Vice President & General Counsel
Safety-Kleen Corp. - (803) 933-4219
Private Securities Litigation Reform Act:
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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 ultimate outcome of court proceedings, the adoption of new
environmental laws and regulations and how they are interpreted and enforced;
and changes in demand for the Company's services.
- END-
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SAFETY-KLEEN CORP.
By: /s/ Kenneth W. Winger
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Name: Kenneth W. Winger
Title: President and Chief Executive Officer
Date: January 19, 2000
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