Perma-Fix Facility Certified for Disposal at Nevada Test Site
OAK RIDGE, Tenn., April 26 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) (BSE: PESI) (Germany: PES.BE) announced today that its wholly owned subsidiary East Tennessee Materials & Energy Corp. (M&EC) has been approved to dispose of low-level and mixed waste at the Nevada Test Site (NTS) of the U.S. Department of Energy (DOE) National Nuclear Security Administration.
This NTS approval, the first to be granted for both types of waste to a commercial treatment provider, is a key element in the new Perma-Fix/M&EC service offering for higher activity and other specialty waste streams. The NTS disposal facility, which accepts only DOE-owned low-level and mixed low- level waste, is unique among commercial and DOE disposal sites in its ability to dispose of these specialty waste streams.
Dr. Louis F. Centofanti, Perma-Fix chairman and chief executive officer, said, "We are pleased to be the first commercial treatment provider to be granted the permission to use the services of the Nevada Test Site. This certification, coupled with NTS's recently acquired permission to dispose of mixed low-level wastes and the expansion of the Perma-Fix/M&EC facility, provides a great resource to DOE in its efforts to perform clean-up projects across the U.S."
Perma-Fix/M&EC has been developing this new service offering for more than two years, said Centofanti. It will expand the M&EC capacity and capability to process waste streams that are difficult because of their radiological and chemical contamination. The Perma-Fix/M&EC facility, located at the Heritage Center, formerly known as the DOE K-25 plant, was specifically designed and constructed to treat DOE-generated wastes. It already offered the largest variety of mixed waste treatment processes in the U.S. This new service offering will be in addition to the Company's current mixed waste treatment activities.
Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Company has increased its focus on the nuclear services segment, which provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including DOE and the U.S. Department of Defense and nuclear utilities. The industrial services segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The Company operates eight major waste treatment facilities across the country.
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 include, but are not limited to, the expectation that the new service will expand the M&EC capacity and capability to process waste streams that are difficult because of their radiological and chemical contamination and the NTS approval is a key element in the new Perma-Fix/M&EC service offering far higher activity and other specialty waste. 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, general economic conditions, future environmental regulatory restrictions, and the government terminating or limiting its prior approval. Contracts with the federal government or with others as a subcontractor to the federal government generally provide that the government may terminate or renegotiate the contract at the government's option. 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:Dr. Louis F. Centofanti
Chairman and CEO
Perma-Fix Environmental Services, Inc.,
+1-770-587-5155
James Kautz
jkautz@epochfinancial.com
J. Todd Atenhan
Both of EPOCH Financial Group,
Inc.
+1-888-917-5105
Herbert Strauss
European investor relations
+011-43-316-296-316
herbert@eu-ir.com
All for Perma-Fix
Released April 26, 2006