Perma-Fix Awarded $9 Million Mixed Waste Treatment Contract by the U.S. Department of Navy
ATLANTA, GA -- (Marketwired) -- 06/12/14 -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that it has been awarded a waste treatment services contract valued at approximately $9 million, including option periods, from the Department of the Navy, NAVSUP-Fleet Logistics Center-Norfolk, Norfolk Naval Shipyard Maritime Industrial Division.
Under this contract, Perma-Fix will provide transportation, treatment and disposal of Naval Nuclear Propulsion Program (NNPP) generated mixed wastes from across the U.S. The base term of the contract is one year, with options that would extend it to May 2019.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer of Perma-Fix said, "Perma-Fix has provided waste treatment services for over 10 years to the Naval Nuclear Program in support of our Country's defense efforts. Winning the competitive bid and retaining this work enables us to continue our relationship with NNPP in support of their important missions."
For this contract, Perma-Fix will utilize its four mixed waste treatment facilities located in Tennessee, Florida, and Washington to provide treatment services for wastes received from naval installations on both coasts and Hawaii. Perma-Fix's treatment facilities provide the most comprehensive mixed waste treatment capabilities in the U.S. and are specifically suited to manage wastes generated by the NNPP.
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. Additional information is available at http://www.perma-fix.com.
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", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: contract value of this contract and work enables us to continue our relationship with NNPP. 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; competitive pressures; 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 does not provide the appropriate funding for the navy to perform under this contract; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2013 Form 10-K and our Form 10-Q for the quarter ended March 31, 2014. 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.
Contacts:
David K. Waldman
US Investor Relations
Crescendo Communications, LLC
(212) 671-1021
Herbert Strauss
European Investor Relations
herbert@eu-ir.com
+43 316 296 316
Source: Perma-Fix Environmental Services, Inc.
Released June 12, 2014