SOURCE: Perma-Fix Environmental Services, Inc.

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December 19, 2014 08:30 ET

Perma-Fix Environmental Services Appoints Larry M. Shelton Chairman of the Board

ATLANTA, GA--(Marketwired - December 19, 2014) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that Larry M. Shelton, current member of the Board of Directors since 2006, has been appointed Chairman of the Board, replacing Dr. Lou Centofanti who will continue in his current role as President and CEO of the Company, as well as a member of the Board of Directors.

As an independent director at Perma-Fix Environmental Services, Mr. Shelton serves and will continue to serve on the Audit Committee, Strategic Advisory Committee and is Chairman of the Compensation and Stock Option Committee. In April 2014, he was appointed to the Board of Directors of Perma-Fix Medical S.A., a Polish subsidiary of the company involved in the development and manufacturing of medical isotopes. Since 1999, Mr. Shelton has been CFO of S.K. Hart Management, a private investment management company with interests in marketable securities, real estate and operating companies engaged in energy, agriculture and various other activities. He has over 18 years of experience as an executive financial officer for several waste management companies. Prior to S.K. Hart, Mr. Shelton was CFO of EnviroCare of Utah, Inc., a company focused on environmental issues, including remediation, emergency response and waste management. His previous experience also includes CFO of USPCI, Inc., a New York Stock Exchange listed company, and a number of board appointments, including Subsurface Technologies, Inc., a privately-held company specializing in providing environmentally sound innovative solutions for water well rehabilitation and development.

Dr. Lou Centofanti, Chief Executive Officer, commented, "Larry has been a valuable resource to Perma-Fix since joining the board in 2006. His knowledge base on the environmental side of the business and his financial expertise make him ideally suited to take on the role of Chairman of the Board. Given the turnaround in our core business as well as the traction we are gaining within our medical isotope business, separating the roles of CEO and Chairman will provide us additional resources to evaluate and pursue various growth opportunities. At the same time, given his role as an independent board member, separation of the roles of Chairman and CEO further reinforces our commitment to good corporate governance."

Mr. Larry Shelton commented, "Through Dr. Centofanti's leadership, Perma-Fix has established itself as the market leader for nuclear waste treatment. The Company's sound fiscal practices and successful navigation of a difficult market environment, position Perma-Fix to resume solid growth and further expand our market presence. I am pleased to accept the role of Chairman of the Board and look forward to contributing my expertise and insight in ways that will enhance shareholder value."

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. Please visit us 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: separation of the CEO and Chairman will provide additional resources to evaluate and pursue various growth opportunities; and we are positioned to resume solid growth and expand market presence. 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; U.S. and state governmental laws and regulations adopted from time to time; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2013 Form 10-K and Form 10-Q for quarter ended March 31, 2014, June 30, 2014, and September 30, 2014. 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