Clean Harbors Inc. (CLH) 2003年年度报告「NYSE」.pdf

1、2003P RO V E N L E A D E R S H I P F O R A C O M P L E X W O R L DC L E A N H A R B O R S I A N N U A L R E P O RTThe year 2003 was an eventful one for Clean Harbors.We completedthe integration of Safety Kleens Chemical Services Division(CSD),an organization more than twice our size.We streamlined a

2、nd refo-cused our combined operations taking costs out of the business andimproving the utilization of our expanded asset infrastructure.We also conducted the largest emergency response project in CleanHarbors history,cleaning up a significant oil spill in Buzzards Baynear Cape Cod,Massachusetts.Thi

3、s project involved the efforts ofhundreds of Clean Harbors employees over a span of three months.Our outstanding performance earned us recognition that reinforced theClean Harbors brand and underscored our strength as the industryspremier company for emergency response work.From an operational persp

4、ective,we completed several initiatives in aneffort to right-size the company.Our initiatives included a significantreduction in the size of our workforce,innovative health care cost controls,and greater internalization of our waste volumes.We also reduced theCompanys assumed environmental liabiliti

5、es.We implemented a newaccounting standard,completed purchase accounting,made decisionsto utilize additional landfill airspace,and resolved,managed or deferredcertain liabilities.These actions resulted in a$22 million net reductionof our environmental liabilities from$205 million to$183 million.The

6、progress we made in 2003 required hard work and considerablesacrifice on the part of each and every employee.Furthermore,whatwe achieved in 2003 was accomplished in a continued weak economicenvironment.Not only did industries in the United States andCanada generate less waste,they continued to delay