Clean Harbors Inc., a Norwell-based waste management company with a location on Quincy Avenue in Braintree, has reportedly agreed to buy another cleanup firm for $1.25 billion.
The aquisition will mean that Clean Harbors moves into the field of recycling used motor oil, according to Reuters. The company will pick up Texas-based Safety-Kleen Inc. a decade after purchasing its chemical services business.
Safety-Kleen's clients include NASCAR, the Boston Globe reports. Clean Harbors saw revenue of almost $2 billionin 2011 and net income of $127 million. Safety-Kleen reported $1.3 billion in revenue and net income of $136 million, according to the Globe.
Locally, Clean Harbors was at the center of a dispute between Braintree officials and the federal government last year when a deal initially sent environmental restitution to Boston instead of Braintree, even though violations were found here. Federal officials later revised the agreement.