Perma-Fix Announces Departure of Chief Operating Officer
ATLANTA, July 31 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) today announced that the company has accepted the resignation of Mr. Larry McNamara, as Vice President and Chief Operating Officer of the Company. The resignation is effective September 1, 2009. Mr. McNamara's duties as Chief Operating Officer will be temporarily assumed by Dr. Louis F. Centofanti, the Company's Chairman of the Board, President and Chief Executive Officer, while the Company commences a search for a new Chief Operating Officer.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "We are grateful to Larry for his contributions throughout the years. We anticipate a seamless transition, as we have assembled a first-class team of seasoned industry professionals that are ready and able to assume the responsibilities. Moreover, we believe the future of our nuclear services business has never been brighter. We have very strong relationships with our customers, and we look forward to benefiting from the accelerated cleanup effort and improved budgets within the DOE going forward."
Perma-Fix Environmental Services, Inc., a national environmental services company, provides unique mixed waste and industrial waste management services. The Company's increased focus on nuclear services includes radioactive and mixed waste treatment services for hospitals, research labs and institutions, federal agencies, including DOE, DOD, and nuclear utilities. The Company's industrial services treat hazardous and non-hazardous waste for a variety of customers including, Fortune 500 companies, federal, state and local agencies and thousands of other clients. Nationwide, the Company operates seven waste treatment facilities.
This press release contains "forwardlooking 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. Forwardlooking statements include, but are not limited to: that we anticipate a seamless transition; that the future of our nuclear services business has never been brighter; and that we look forward benefitting from the accelerated cleanup effort and improved budgets within the DOE going forward. These forwardlooking 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; competitive pressures; our ability to apply and market our technologies; that neither the federal government nor any other party to a subcontract involving the federal government terminates or renegotiates any material contract granted to us prior to expiration of the term of the contract, as such contracts are generally terminable or renegotiable on 30 day notice, at the government's option; or the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress provides funding for the new remediation projects; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2008 Form 10-K. The Company makes no commitment to disclose any revisions to forwardlooking statements, or any facts, events or circumstances after the date hereof that bear upon forwardlooking statements.
Please visit us on the World Wide Web at http://www.perma-fix.com.
Released July 31, 2009