ATLANTA, Sept. 22, 2010 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq:PESI) today announced it has received final approval for construction of a rail spur at the Perma-Fix Northwest Facility (PFNW) adjacent to the Hanford nuclear site in Richland, Washington. The rail spur is expected to be completed in early 2011 and will facilitate the movement of radioactive wastes directly into the facility, thereby minimizing any health risk to the local community.
The PFNW Facility is a radioactive waste treatment facility that supports cleanup of the U.S. Department of Energy (DOE) Hanford Site, nuclear power utilities, national laboratories, and research facilities.
Richard Grondin, Vice President and General Manager of PFNW, stated, "Perma-Fix is gratified by gaining State of Washington approval to construct the rail spur, which is a perfect example of a private company/public sector partnership. Perma-Fix will provide funds to construct this rail spur and has worked closely with the Washington Department of Ecology, the City of Richland, and the Tri-City and Olympia Railroad to design and begin construction. This effort has taken several months to get underway, and will tie in the rail line located within the Horn Rapids Industrial Park that is owned by the City of Richland directly into our facility."
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "Perma-Fix is dedicated to the long term financial investment in the Tri-Cities area, and thus we continue to make capital investments in our PFNW Facility. We believe these investments not only provide needed local community support, but also support DOE's mission to clean up its largest Environmental Management site. Hanford cleanup is critical to protection of the environment and the Columbia River and we are proud to be a part of DOE's effort for this important work. Perma-Fix has built its business on designing innovative treatment capabilities for our nation's most challenging radioactive waste streams, and we look forward to providing enhanced transportation capabilities that will also support cleanup from around the nation."
About Perma-Fix Environmental Services
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 major waste treatment facilities.
The Perma-Fix Environmental Services, Inc. logo is available at
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 rail spur is expected to be completed in early 2011 and will facilitate the movement of radioactive wastes directly into the facility, thereby minimizing any health risk to the local community; we believe these investments support DOE's mission to cleanup its largest Environmental Management site; and we look forward to providing enhanced transportation capabilities that will also support clean-up from around the nation. 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; changes in government regulations; 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; that Congress provides continuing funding for the Department of Defense's and Department of Energy's remediation projects; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2009 Form 10-K and Form 10-Q for the quarter ended March 31, 2010 and June 30, 2010. 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.
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CONTACT: Perma-Fix Environmental Services, Inc. Dr. Louis F. Centofanti, Chairman and CEO (770) 587-5155 European Investor Relations Herbert Strauss +43 316 296 316 herbert@eu-ir.com Crescendo Communications, LLC US Investor Relations David K. Waldman (212) 671-1020 x101