SOURCE: Perma-Fix Environmental Services, Inc.

Perma-Fix Environmental Services, Inc.

May 20, 2016 13:23 ET

Perma-Fix Appoints Senior Industry Executive Mark J. Duff as Executive Vice President

ATLANTA, GA--(Marketwired - May 20, 2016) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that Mark J. Duff has joined the company in the position of Executive Vice President. Mr. Duff adds additional experience and leadership to the company and will join the management team to support and help accelerate anticipated revenue growth and profitability.

Mr. Duff has 30 years of management and technical experience in the Department of Energy (DOE) and Department of Defense (DOD) environmental and construction markets as a corporate officer, senior project manager, co-founder of a consulting firm, and federal employee. For the past five years, Mr. Duff has been responsible for the successful completion of over 70 performance-based projects at the Paducah Gaseous Diffusion Plant (PGDP) in Paducah, KY. At the PGDP, he served as the Project Manager for the Paducah Remediation Contract which was a five-year project with a total value of $458 million. Prior to the PGDP project, Mark was a senior manager supporting Babcock and Wilcox (B&W) leading several programs that included building teams to solve complex technical problems. These programs included implementation of the American Recovery and Reinvestment Act (ARRA) at the DOE Y-12 facility with a $245 million budget for new cleanup projects completed over a two year period. During this period, Mark served as project manager leading a team of senior experts in support of Toshiba Corporation in Tokyo, Japan to integrate United States technology in the recovery of the Fukushima Daiichi Nuclear Reactor disaster. This project included arriving in Japan within three weeks after the earthquake to coordinate technologies associated with water treatment, radiation protection and shielding. Prior to joining B&W, Mark served as the president of Safety and Ecology Corporation (SEC). As President of SEC, he helped grow the company from $50 million to $80 million in annual revenues with significant growth in infrastructure, marketing, and client diversification. Mark has an MBA from the University of Phoenix and received his B.S. from the University of Alabama.

Dr. Louis F. Centofanti, President and Chief Executive Officer, stated, "We are pleased to have an executive of Mark's caliber join us at this exciting time in our company. His depth and breadth of experience leading large projects at DOE and other sites reinforces his leadership experience and ability to effectively execute projects in accordance with best industry practices. We look forward to his involvement as part of the senior management team as we prepare for a period of rapid growth in both our Service and Treatment Segments."

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, 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 Perma-Fix Medical S.A., our majority-owned Polish subsidiary, we are developing a new process to produce Tc-99m, a widely used medical isotope in the world.

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: we look forward to his involvement as part of the senior management team as we prepare for a period of rapid growth in both our Service and Treatment Segments. 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; our ability to fund the commercialization of our technology; failure of our lender to provide the necessary waiver as discussed above; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2015 Form 10-K. 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