Perma-Fix Environmental Services Inc. has received a final payment of $510,000 for the settlement of the remaining insurance claim, related to the fires, which occurred at the Perma- Fix of Michigan facility during 2003.
The Perma-Fix of Michigan operations were discontinued during the fourth quarter of 2004. The company will recognize, as a result of this settlement payment, a gain from discontinued operations of this $510,000.
Dr. Louis Centofanti, chairman and chief executive officer, stated, “We are very pleased to have reached this favorable settlement and to receive the $510,000 payment. We continue to resolve the outstanding closure items related to our Michigan facility and are pleased with the progress made to date.”
Perma-Fix Environmental Services Inc. is a national environmental services company, providing 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 group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The company operates 11 major waste treatment facilities across the country.