AVALON HOLDINGS CORPORATION (NYSEMKT:AWX) Files An 8-K Other EventsITEM 8.01 Other Events
On December 23, 2016, the Court of Common Pleas in Franklin County, Ohio (the “Court”) issued its Decision and Order in the AWMS Water Solutions, LLC appeal of the Ohio Oil and Gas Commission’s decision that upheld the Division of Oil and Gas Resources Management’s (the “Division”) suspension of AWMS #2. AWMS Water Solutions, LLC (the “Company”) is a wholly owned subsidiary of Avalon Holdings Corporation. As previously reported, on September 3, 2014, the Chief of the Ohio Department of Natural Resource’s Division, temporarily suspended the operations at the Company’s salt water injection well, AWMS #2, while they prepared a state-wide policy on induced seismicity.
The Court found that the Division’s suspension and refusal to work with the Company for over 26 months was “arbitrary” and “not in accordance with reason” and therefore vacated the Ohio Oil and Gas Commission’s decision. The Court ordered that the Company and the Division submit proposed entries within 30-days to the Court setting forth the initial volumes, pressures, and increases in volume and pressure proposed while monitoring seismicity and addressing the concerns of public health and safety. Following submittal of these proposed entries, it is expected that the Court will issue specific orders allowing AWMS #2 to resume operations.
About AVALON HOLDINGS CORPORATION (NYSEMKT:AWX)
Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in northeastern and midwestern United States markets, captive landfill management for an industrial customer and salt water injection well operations. The Company operates through two segments. The Company’s waste management services segment includes waste disposal brokerage and management services, captive landfill management operations and salt water injection well operations. The golf and related operations segment includes the operation and management of over three golf courses and related clubhouses, a hotel, fitness centers, tennis courts, spa services, dining and banquet and conference facilities and a travel agency. Its subsidiary, American Waste Management Services, Inc., assists customers with managing and disposing of wastes at various treatment and disposal sites. Its golf courses are located in Warren, Ohio, Vienna, Ohio and Sharon, Pennsylvania. AVALON HOLDINGS CORPORATION (NYSEMKT:AWX) Recent Trading Information
AVALON HOLDINGS CORPORATION (NYSEMKT:AWX) closed its last trading session down -0.02 at 2.75 with 13,607 shares trading hands.
