AMEX, AWX - Avalon Holdings Corp
Avalon Holdings Corporation (?Avalon?) was formed on April 30, 1998 as a
subsidiary of American Waste Services, Inc. (?AWS?). Pursuant to the terms of a
Contribution and Distribution Agreement dated as of May 7, 1998 between Avalon
and AWS, AWS contributed to Avalon its transportation operations, technical
environmental services operations, waste disposal brokerage and management
operations, and golf course and related operations, together with certain other
assets including the headquarters of AWS and certain accounts receivable. In
connection with the contribution, Avalon also assumed certain liabilities of
AWS. On June 17, 1998, AWS distributed, as a special dividend, all of the
outstanding shares of capital stock of Avalon to the holders of AWS common stock
on a pro rata and corresponding basis (the ?Spin-off?). ...
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