Perma-Fix Environmental Services provides hazardous, mixed, and industrial waste management services and environmental engineering to industrial customers, commercial customers and the United States Government. Through their 6 major facilities in the Southern and Midwest states, they treat industrial waste which may or may not be hazardous. Their nuclear services arm focuses on the treatment of mixed (nuclear and chemically hazardous) waste. While it may not seem like a glamorous industry, it is definitely profitable.

In a complex series of contracts, Perma-Fix Environmental has been subcontracted, through its East Tennessee Materials & Energy Corporation (M&EC) subsidiary, at the Department of Energy (DOE) Hanford Site. The contract is expected to yield combined revenue of approximately $200 million – $250 million over the five year base period. This includes off-site revenue from associated waste treatment at the company’s four Mixed Waste treatment facilities.

CH2M Hill Plateau Remediation Company (CHPRC), the lead on the contracts, was awarded a cost plus incentive fee contract valued at approximately $4.5 billion over ten years (a five-year base period with the option to extend it for an additional five years). The scope of the CHPRC contract includes treatment and disposal of various radioactive waste streams, groundwater remediation, management of spent nuclear fuel, disposition of nuclear materials, demolition of non-reactor nuclear facilities and environmental remediation activities.

Perma-Fix M&EC will operate on the Hanford Site as M&EC PRC and will be responsible for the personnel and operation of various treatment and disposal facilities. It will take all teams and team-members to accomplish the important work of cleaning up the Central Plateau.

Let us hear your thoughts below:

Last 5 posts by QualityStocks

• Novavax, Inc. (NVAX) Prices Offering Of Common Stock - November 24th, 2009
• Freshwater Technologies (FWTC.OB) Water Activation Technology Increases the Germination of Vegetable Crops - November 24th, 2009
• AlumniFuel Power Corp. (AFPW.OB) Subsidiary Turns Heads with Technology at Naval Energy Forum - November 24th, 2009
• Provectus Pharmaceuticals Inc. (PVCT.OB) Delivers Favorable Oncology Treatment; Presents Data to 3rd World Meeting of Interdisciplinary Melanoma/Skin Cancer Centers - November 24th, 2009
• TapImmune, Inc. (TPIV.OB) Among the Winners in the Booming Vaccine Business - November 24th, 2009