Exhibit 99.2
FOR IMMEDIATE RELEASE Media Contact:
Wade Gates or John Kyte
June 16, 2000 803-933-4224
SAFETY-KLEEN FINALIZES INITIAL DEBTOR-IN-POSSESSION FINANCING
(Columbia, SC) - Safety-Kleen Corp (NYSE: SK) today announced it has
finalized its initial $40 million of debtor-in-possession (DIP) financing, which
was approved by the U.S. Bankruptcy Court on June 13, 2000, in the full amount
requested by the company. The Bankruptcy Court will consider approval of the
full $100 million DIP facility, as previously announced, in July.
"This is a very important step toward reorganizing Safety-Kleen," said
Safety-Kleen CEO David Thomas, Jr. "We are pleased that the bankruptcy court
granted our request for $40 million of interim funding. The availability of
these funds will enable us to maintain normal business operations at our
facilities."
Private Securities Litigation Reform Act:
Forward-looking statements in this release are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Investors
are cautioned that all forward-looking statements involve risks associated with
the uncertainty of market acceptance of the Company's products, limited number
of customers, as well as risks of downturns in economic conditions generally,
risks associated with competition and competitive pricing pressures, and other
risks detailed in the Company's filings with the Securities and Exchange
Commission.
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