Vertex Energy, Inc. has sold its Nevada re-refinery facility, which is located in Churchill County, to Clean Harbors, Inc. for $35 million, of which approximately $14 million 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.

Tags: Inc., Vertex Energy