Perma-Fix Receives $510,000 Insurance Claim Settlement
ATLANTA, Dec. 8 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI; BSE: PESI) (Germany: PES.BE) today announced that it has received a final payment of $510,000 for the settlement of the remaining insurance claim, related to the fires, which occurred at the Perma- Fix of Michigan facility during 2003. The Perma-Fix of Michigan operations were discontinued during the fourth quarter of 2004. The Company will recognize, as a result of this settlement payment, a gain from discontinued operations of this $510,000.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "We are very pleased to have reached this favorable settlement and to receive the $510,000 payment. We continue to resolve the outstanding closure items related to our Michigan facility and are pleased with the progress made to date."
Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Nuclear Segment provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including the Departments of Energy and Defense and nuclear utilities. The Industrial 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 eleven major waste treatment facilities across the country.
Please visit us on the World Wide Web at http://www.perma-fix.com .
Contacts:
Dr. Louis F. Centofanti, Chairman and CEO
Perma-Fix Environmental Services
404-847-9990
James Kautz or J. Todd Atenhan
EPOCH Financial Group, Inc.
jkautz@epochfinancial.com
888-917-5105
Herbert Strauss, European investor relations
herbert@eu-ir.com
+43-316-296-316
SOURCE Perma-Fix Environmental Services, Inc.
-0- 12/08/2005
/CONTACT: Dr. Louis F. Centofanti, Chairman and CEO, Perma-Fix
Environmental Services, +1-404-847-9990; or James Kautz,
jkautz@epochfinancial.com, or J. Todd Atenhan, both of EPOCH Financial Group,
Inc., +1-888-917-5105; or Herbert Strauss, European investor relations,
+011-43-316-296-316, or herbert@eu-ir.com, all for Perma-Fix/
/Web site: http://www.perma-fix.com /
(PESI)
CO: Perma-Fix Environmental Services, Inc.
ST: Georgia, Michigan
IN: ENV INS
SU:
DS-MD
-- FLTH007 --
5524 12/08/2005 09:12 EST http://www.prnewswire.com
Released December 8, 2005