Perma-Fix Awarded Multi-Million Dollar United Kingdom Contract to Provide Mercury Waste Treatment Services
ATLANTA, GA -- (Marketwired) -- 04/24/14 -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that its subsidiary Perma-Fix Environmental Services UK Ltd has been awarded a contract initially valued at approximately $2,200,000 (£1,300,000) by Dounreay Site Restoration Ltd (DSRL) located in Thurso, Scotland. This contract provides for the disposition of mercury waste streams for the Dounreay Site. This award was the result of a procurement issued by DSRL to treat wastes generated from decommissioning and demolition activities currently ongoing at Dounreay.
Perma-Fix has designed a mobile system for DSRL, utilizing patented treatment technology, which will treat radioactively contaminated mercury wastes to facilitate safe disposal. Dr. Louis F. Centofanti, Chairman and CEO, stated, "We are pleased to provide our mercury treatment technology to DSRL for treatment of this former orphan waste stream. We have successfully used this technology in the United States for treatment of radioactive mercury wastes for over ten years. Our UK office has been working with DSRL on a number of waste challenges and it is gratifying that we have our first opportunity to assist DSRL with waste treatment."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, the Department of Defense ("DOD"), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.
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 generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plan to", "estimates", "projects", and similar expressions. These forward-looking statements include, but not limited to, value of the contract and 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, commercialize, and market our technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract; our ability to fund the commercialization of our technology; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2013 Form 10-K. 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.
Contacts:
David K. Waldman
US Investor Relations
Crescendo Communications, LLC
(212) 671-1021
Herbert Strauss
European Investor Relations
herbert@eu-ir.com
Source: Perma-Fix Environmental Services, Inc.
Released April 24, 2014