Perma-Fix Awarded a Multi-Millon Dollar Contract for Treatment of a Complex Mixed Waste
OAK RIDGE, Tenn., July 21 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI; Boston) (Germany: PES.BE) today announced that a Fortune 500 corporation has awarded us a contract valued at approximately $6 million to treat and dispose of a mixed waste generated from research and development activities.
This contract provides that Perma-Fix will treat and dispose of an estimated 4,500 cubic feet of a complex mixed radioactive and hazardous waste that requires innovative treatment processing. Perma-Fix has worked for the past three years to develop a treatment approach, applying unique technologies, to accommodate the complex nature of these wastes. Treatment under this contract will begin in July 2004 and is expected to be complete by mid 2005.
Dr. Louis F. Centofanti, Perma-Fix Chairman and Chief Executive Officer, said, "This project demonstrates that diligent pursuit of innovative treatment approaches can be employed to solve our clients' special waste needs. We have actively pursued a solution for this project and are gratified that our client has selected Perma-Fix for this effort."
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 a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1996. This forward-looking statement is that the contract has a potential value of approximately $6M. Investors are cautioned that this forward-looking statement is not a guarantee of future performance and involves risks and uncertainties, and that actual results may differ materially from that in this forward-looking statement due to numerous factors, including, but not limited to, general economic conditions, future environmental regulatory restrictions or the customer's failure to abide by or comply with the contract to deliver waste as anticipated under the contract, or termination of the contract prior to its completion.
Please visit us on the World Wide Web at http://www.perma-fix.com.
Source: Perma-Fix Environmental Services, Inc.
Released July 21, 2004