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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): MAY 27, 1998
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COMMODORE APPLIED TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 1-11871 11-3312952
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
150 EAST 58TH STREET
NEW YORK, NEW YORK 10155
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 308-5800
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(Former Name or Former Address, if Changed Since Last Report)
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CURRENT REPORT ON FORM 8-K
COMMODORE APPLIED TECHNOLOGIES, INC.
MAY 27, 1998
ITEM 5. OTHER EVENTS.
Commodore Applied Technologies, Inc. (the "Company") has announced that
Kenneth J. Houle, President and Chief Operating Officer of Commodore Separation
Technologies, Inc., the Company's 87% owned subsidiary ("Separation"), passed
away on May 26, 1998, in Atlanta, Georgia, at the age of 59 following an
illness. Carl O. Magnell, Vice President--Technology & Sales of the Company,
will serve as Separation's President and Chief Operating Officer for an interim
period until such time as a suitable replacement is appointed by Separation's
Board of Directors. See the press release attached hereto as Exhibit 99.1 for
additional information regarding the foregoing.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED.
Not Applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not Applicable.
(c) EXHIBITS.
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated May 27, 1998, of the Company.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report to be signed on its behalf by the
undersigned thereunto duly authorized.
COMMODORE APPLIED TECHNOLOGIES, INC.
Date: May 27, 1998 By: /s/ Paul E. Hannesson
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Paul E. Hannesson, Chairman of the Board,
President and Chief Executive Officer
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated May 27, 1998, of the Company.
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COMMODORE APPLIED TECHNOLOGIES, INC.
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FOR RELEASE: IMMEDIATE NEWS RELEASE
CONTACT: JOHN PETERSON - MEDIA
MELISSA C. BERKOWITZ - SHAREHOLDERS
(212) 308-5800
KENNETH J. HOULE DIES, PRESIDENT OF
COMMODORE APPLIED TECHNOLOGIES, INC.'S SUBSIDIARY
NEW YORK, NEW YORK, May 27, 1998 - Kenneth J. Houle, 59, president of Commodore
Separation Technologies, Inc. (NASDAQ:CXOT), a publicly-traded subsidiary of
Commodore Applied Technologies, Inc. (ASE:CXI), died yesterday in Atlanta,
following a sudden illness.
Mr. Houle had been president and chief operating officer of Commodore since
January 1997. He helped the company successfully complete its initial public
offering of stock in April 1997 and realize its first commercial contracts at
the Port of Baltimore.
"Ken was a wonderful friend," said Paul E. Hannesson, Commodore chairman and
chief executive officer. "He helped build a strong organization. He will be
sorely missed."
Mr. Houle previously served as president of The Hall Chemical Company, a
manufacturer of inorganic metal catalysts and compounds, from March 1995 to
September 1996. Prior to that time he had served as a senior officer at
International Specialty Products, Inc. and Ruetgers-Nease Chemical Company.
He received his undergraduate degree from Siena College and completed graduate
studies at Columbia University and Iowa State University. He was a board member
of the Chemist's Club, New York, and a member of the American Chemical Society,
American Institute of Chemical Engineers and Societe de Chemie Industrielle,
American section. He was also a trustee and board member of the Ohio Center of
Science and Industry.
Mr. Houle is survived by his children, Kenneth J. Houle, Jr., East Stroudsburg,
Pa., Scott M. Houle, Dallas, Tx., Laurie A. Cameron, Williamstown, N.J., Jane E.
Koveleskie, Florence, N.J., Thomas P. Houle, Westerville, Ohio, and Jennifer J.
Houle, Greenwood Lake, N.Y.
Mr. Hannesson said that Carl O. Magnell would serve as acting president and
chief operating officer. Mr. Magnell has been with the Commodore companies in
various senior capacities since 1994. In 1996, Mr. Magnell had served as a
senior vice president for Commodore Separation Technologies. He currently also
serves as president, Commodore Polymer Technologies, Inc., a wholly-owned
subsidiary of Commodore Environmental Services, Inc. (OTCBB: COES).
The Company has begun the process of finding the best qualified replacement.
Mr. Hannesson said that Commodore is fortunate to have a seasoned team of
managers, including W.S. Winston Ho, senior vice president, technology, James M.
DeAngelis, senior vice president, sales and marketing, and Michael D. Kiehnau,
vice president, finance and operations.
Commodore Separation Technologies is 87 % owned by Commodore Applied
Technologies, Inc. (ASE: CXI). Commodore Applied Technologies is 42% owned by
Commodore Environmental Services, Inc. (OTCBB:COES).
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