SOURCE: Perma-Fix Environmental Services, Inc.

Perma-Fix Environmental Services, Inc. Logo

August 10, 2015 07:30 ET

Perma-Fix Announces Radiological Waste Removal, Asbestos Abatement, Demolition and Site Restoration Contract at a Technology Facility in Knoxville

ATLANTA, GA--(Marketwired - August 10, 2015) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that its wholly-owned subsidiary, Safety and Ecology Corporation, has been awarded a contract valued at approximately $1 million for demolition and decommissioning services at a technology development laboratory in Knoxville, TN. The facility was an analytical and engineering laboratory that served a wide variety of government and commercial clients that is now being closed and decommissioned. Perma-Fix's scope is to support closure of the existing facility, remove any radiological materials and equipment, perform asbestos abatement and other universal and hazardous waste removal, demolish the facilities and perform site restoration activities.

Dr. Louis F. Centofanti, Chief Executive Officer, stated, "This project is an excellent opportunity for us to utilize our local resources in support of closure of the facility. We are uniquely qualified to perform this project, and will provide our client with the advantage of a local waste management and technical services based company that facilitates the revitalization of prime real estate."

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 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, new build construction, 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.

Through its subsidiary, Perma-Fix Medical, the company has also developed a new process to produce Technetium-99, the most widely used medical isotope in the world. The new process is expected to solve worldwide shortages of Tc-99m as it is less expensive, does not require the use of government-subsidized, weapons-grade materials and can be easily deployed around the world.

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: Perma-Fix is uniquely qualified to perform this project and will provide our client with the advantage of a local waste management and technical services based company that facilitates the revitalization of prime real estate. 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; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2014 Form 10-K and Form 10-Q for quarters ended March 31, 2015 and June 30, 2015. 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.

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