Eco-Maxx™ maintains “pay-for-oil” model despite market leaders’ adoption of fee-based services.
NIAGARA FALLS, New York—Eco-Maxx, a regional provider of used oil services operating throughout the northeastern corridor, today restated its position and commitment to paying customers for their used engine and industrial oils. Eco-Maxx, responding to recent announcements from Clean Harbor’s Safety-Kleen and Vertex Energy, Inc., is reassuring its customers and the market of its position.
Steve Larkin, Eco-Maxx Director of Sales, said, “Crude oil futures, which are currently less than $60.00 (USD) per barrel, have significantly devalued used motor oil.” But we all know crude oil is volatile. Over the last seven years we’ve seen it as high $145/barrel and as low as $37/barrel.” Larkin continued, “While we are certainly concerned about the recent trends in oil futures, we do not feel the need to charge for oil pick up.”
Brain Carney, Eco-Maxx Director of Operations, said, “The Eco-Maxx business model is not dependent on re-refineries. From our inception we promised our customers that we’d seek alternative uses for their used oil in order to get them the highest return.” Carney concluded saying, “There is still value in used oil; it’s just not as valuable to re-refineries when crude oil is trading so low. Because we’re not tied to re-refineries, we can continue to pay for oil at reduced rates. And when the crude oil market returns to its historical averages, we will increase our pay rate accordingly.”
About Eco-Maxx™ Eco-Maxx™ is a regional service provider dedicated to extending the life of one of Earth’s most precious resources: Oil. The company, headquarter in Niagara Falls, New York, operates a fleet of corporate-owned vehicles for collecting, transporting, and selling used oils. The company also utilizes authorized service providers to extend the company’s service area throughout the northeast. Media Contact: Monica Elderkin 844-645-6299