SOURCE: Perma-Fix Environmental Services, Inc.

Perma-Fix Environmental Services, Inc. Logo

September 11, 2017 07:00 ET

Perma-Fix Announces Promotion of Mark Duff to CEO

Dr. Louis F. Centofanti to Continue as Executive Vice President of Strategic Initiatives and Executive Board Member

ATLANTA, GA--(Marketwired - September 11, 2017) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced Mark Duff as incoming Chief Executive Officer of Perma-Fix Environmental Services, to succeed Dr. Louis F. Centofanti, who will continue to serve as Executive V.P. of Strategic Initiatives and an executive member of the Board of Directors. Previously, Mr. Duff served as Executive Vice President and Chief Operating Officer.

Dr. Louis F. Centofanti stated, "Since joining Perma-Fix over a year ago, Mark has superbly repositioned our Services Segment and improved our sales organization. Mark has also helped advance new technologies and new opportunities within the Treatment Segment. He brings a proven track record leading large projects at the DOE and other sites nationwide."

Larry M. Shelton, Chairman of the Board, commented, "I want to thank Lou for his vision, leadership, and unwavering commitment to the organization. Since founding Perma-Fix in 1991, and with his leadership as CEO, we believe that Perma-Fix has become one of the world's premier nuclear waste treatment companies. Lou's contributions to the company, the environment and the country have been invaluable, and we look forward to Lou's continued inspiration and leadership."

Mark Duff concluded, "Today's announcement represents a great honor to follow in Lou's footsteps as CEO of Perma-Fix. Lou is an industry icon. Perma-Fix is positioned as one of the leaders in the nuclear waste treatment and service market with a strong asset base and marketable discriminators afforded by our three unique treatment facilities. I am committed to building upon Lou's legacy, and capitalizing on key opportunities we see ahead. We have built a highly scalable business, which should enable further diversification of our client base going forward, and provide a stable foundation for growth. Leveraging my background in the sector, which strongly complements our infrastructure and sales organization, I feel we can effectively bid and win new business."

Mr. Duff, age 54, joined Perma-Fix in June 2016 and brings over 30 years of management and technical experience in nuclear material processing, management and decommissioning. He has successfully delivered services to the nuclear industry, Department of Energy (DOE) and Department of Defense (DOD), environmental and construction markets as a corporate officer, senior project manager, consulting firm co-founder, and federal employee. Prior to joining Perma-Fix, Mr. Duff oversaw the successful completion of over 70 performance-based projects at the Paducah Gaseous Diffusion Plant (PGDP) in Paducah, KY, where he served as the Project Manager for the Paducah Remediation Contract, a five-year project with a total value of $458 million.

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the Department of Energy ("DOE"), the Department of Defense ("DOD"), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide. Mr. Duff received his undergraduate degree from the University of Alabama and an MBA from the University of Phoenix.

Please visit us on the World Wide Web at http://www.perma-fix.com.

This press release contains "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: bid and win new business, diversify client base, stable foundation for growth, and capitalizing on key opportunities. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress fails to provides continuing funding for the DOD's and DOE's remediation projects; ability to obtain new foreign and domestic remediation contracts; inability to meet financial covenants; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2016 Form 10-K and Forms 10-Q for quarters ended March 31, 2017 and June 30, 2017. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.

Please visit us on the World Wide Web at http://www.perma-fix.com.

Contact Information

  • Contacts:
    David K. Waldman-US Investor Relations
    Crescendo Communications, LLC
    (212) 671-1021

    Herbert Strauss-European Investor Relations
    herbert@eu-ir.com
    +43 316 296 316