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Brinckman Joins Heritage-Crystal
Clean
Elgin, Illinois, April 2,
2002 -- Joseph Chalhoub,
President and CEO of Heritage-Crystal Clean, LLC, announced
today that Donald Brinckman has joined the Company
as an Investor, Director and Member of the Executive
Committee.
Although he will not be involved
in the day-to-day operation of Heritage-Crystal Clean,
Brinckman
will have a strong presence in guiding the overall
development of the Company.
Brinckman is well known
in the business and financial communities as the
Founder and former President,
CEO and Chairman of Safety-Kleen Corp. In 1968,
he found
a small parts washer company located in Milwaukee
called Safety-Kleen and purchased it for $25,000. Under
his direction, it grew from a regional firm to
an international
environmental service company with annual sales
in excess of 1.0 billion dollars.
During this time,
Safety-Kleen recorded remarkable earnings growth.
In 1987, it became the only
NYSE listed Company to record over twenty-percent
annual
net earnings
growth for seventeen consecutive years, which
was a new American business record.
In addition,
for
a decade,
Wall Street recognized the company as one
of the "Nifty-Fifty" companies
on the New York Stock Exchange. In 1998,
Safety-Kleen was purchased by Laidlaw Environmental
Services
for over 2 billion dollars.
Commenting on the
association of Brinckman with Heritage-Crystal
Clean, Chalhoub stated
that, "Don's participation
in the Company will not only strengthen
our position as one of the fastest growing
companies
in the environmental
service industry, but will add a knowledgeable
mind to help guide the Company's future
direction as we continue our successes of
the past two years."
He
added: "I have known Don for almost
two decades, and have worked with him
for a good number of those
years. Don's vast experience and
the respect he has earned in the business
and
financial communities
will be a great benefit to the Company.
We are all very excited to work with
him."
Heritage-Crystal Clean, LLC,
headquartered in Elgin, Illinois, is
a privately-held
marketing and sales
Company that concentrates on servicing
the automotive
repair,
commercial and industrial marketplaces,
primarily in the Midwest and Eastern
States.
In so
doing, it provides
parts cleaner and other fluid supply
and waste collection services to
tens-of-thousands of
small to medium-size
customers. In the future, Heritage-Crystal
Clean will continue to serve these
customers with their
solvent
needs, while expanding its service
operations across the United States through the
Company's
growing distribution network of Branches
and Logistical Hubs.
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