The small .gif is the company image and you can comment out the {$config.Company.company_name}
Or just go into your admin area and not fill out a company in General settings >>Company options.
I have no idea why you would want to erase that stuff,..though
<TD valign="top"><img src="{$ImagesDir}/companyname_small.gif" align="left">
<strong>{$config.Company.company_name}</strong><br />
{$config.Company.location_address}, {$config.Company.location_city}<br />
{$config.Company.location_zipcode}, {$config.Company.location_state_name}<br />
{$config.Company.location_country_name}<br />
{if $config.Company.company_phone}{$lng.lbl_phone_1_ti tle}: {$config.Company.company_phone}<br />{/if}
{if $config.Company.company_phone_2}{$lng.lbl_phone_2_ title}: {$config.Company.company_phone_2}<br />{/if}
{if $config.Company.company_fax}{$lng.lbl_fax}: {$config.Company.company_fax}<br />{/if}
{if $config.Company.orders_department}{$lng.lbl_email} : {$config.Company.orders_department}<br />{/if}
{if $order.applied_taxes}
<br />
{foreach from=$order.applied_taxes key=tax_name item=tax}
{$tax.regnumber}<br />
{/foreach}
{/if}
</TD>