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February 6, 2013
08:48 EDTCLHClean Harbors falls following departure of CFO
Shares of Clean Harbors (CLH), which provides environmental, energy and industrial services, fell yesterday after the company disclosed in a regulatory filing that its Chief Financial Officer Robert Gagnon resigned on February 4. Gagnon, who had only filled the CFO role since August of last year, "did not resign due to any disagreement with the Company regarding any matter relating to the Company’s operations, policies, practices or financial statements," according to the company. Gagnon will continue to perform transitional services until March 31 and COO James Rutledge was designated by the Board of Directors to resume his previously held role as CFO, the company stated. Shares of Clean Harbors fell $2.28, or 4.12%, to $53.04 following the disclosure.
News For CLH From The Last 14 Days
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February 3, 2016
07:14 EDTCLHVertex Energy sells Nevada facility for $35M to Clean Harbors
Vertex Energy (VTNR) has sold its Nevada re-refinery facility, which is located in Churchill County, to Clean Harbors (CLH) for $35M, of which approximately $14M was immediately used at closing to purchase the facility and equipment previously leased by Vertex Energy in order to facilitate such sale. Benjamin P. Cowart, Chairman and CEO of Vertex Energy, said, "This transaction benefits Vertex Energy in a variety of ways, not the least of which is by strengthening our balance sheet. As we noted in our third quarter Form 10-Q filing and on the conference call that followed, the Churchill County facility had an average carrying cost of $1.5 million per quarter. We eliminate those costs with this transaction. At the end of the third quarter of 2015, our cash and cash equivalents were over $4 million. This sale and related transactions will bring that cash position to more than $10 million. We also used $16 million of sale proceeds to pay down our term debt."

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