Perma-Fix Awarded Multi-Year, Hazardous Waste Services Contract by Space Gateway Support, LLC, at the Kennedy Space Center
ATLANTA, Feb 23, 2005 /PRNewswire-FirstCall via COMTEX/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI)(BSE: PESI)(Germany: PES.BE) has been awarded a multi-year contract by Space Gateway Support (SGS), LLC, at the Kennedy Space Center, commencing March 1, 2005. The contract is valued at more than $500,000 for the initial seven-month period, with three follow-on options estimated at an approximate addition of $3 million. The option renewals under the contract are awarded at the discretion of SGS. The contract includes the management, transportation, recycling and disposal of all hazardous waste materials generated at the Kennedy Space Center, Cape Canaveral Air Force Station and Patrick Air Force Base, and other government facilities, as required.
Dr. Louis Centofanti, Perma-Fix Chairman and Chief Executive Officer stated, "The award of this contract is very gratifying to Perma-Fix. Our selection by such prestigious organizations as SGS and NASA/Kennedy Space Center reinforces the unique capabilities and high environmental standards of our Industrial Services Segment and the entire organization. We look forward to many years supporting the space program and working with these fine organizations."
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.
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, information concerning the statement that the contract has a potential value of approximately $3.5 million. 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, regulatory restrictions, the contract not being extended during any of the three follow-on option years, SGS's failure to abide by or comply with the contract, waste to be received as anticipated or SGS's termination of the contract for any reason. 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.
SOURCE Perma-Fix Environmental Services, Inc.
Dr. Louis F. Centofanti, Chairman and CEO of Perma-Fix Environmental Services, Inc., +1-404-847-9990; or Investors, David Waldman, dwaldman@lhai.com, or John Heilshorn, both of Lippert-Heilshorn & Associates, +1-212-838-3777, or European investor relations, Herbert Strauss in Austria, +011-43-316-296-316, or herbert@eu-ir.com, al for Perma-Fix Environmental Services, Inc.
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Released February 23, 2005