Letter of Intent to Sell Detroit Facility Terminates as Company Reviews Attractive Alternatives
ATLANTA, Jan. 18 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI; Boston) (Germany: PES.BE) today announced that the previously announced letter of intent to sell its Detroit facility has terminated without the sale being completed.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "It is our intention to review and reconsider our options regarding the Detroit facility in light of several attractive alternatives that have surfaced."
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, the information concerning attractive alternatives for the Detroit facility. 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 approval and environmental conditions at the facility. 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.
CONTACT: 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 Herbert Strauss of European investor relations in Austria,
+011-43-316-296-316, or herbert@eu-ir.com, all for Perma-Fix Environmental
Services, Inc.
Released January 18, 2005