Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) has been awarded a subcontract through its East Tennessee Materials & Energy Corporation subsidiary for waste management and facility operations at the Department of Energy Hanford, Washington Site.
M&EC is a small team member of the CH2M Hill Plateau Remediation Company team led by CH2M Hill Constructors, Inc., which has been awarded the contract by the DOE for the Plateau Remediation Contract at Hanford. The total contract awarded to the group is a cost-plus contract valued at approximately $4.5 billion over 10 years, which is a 5-year base period with the option to extend it for another five years.
While this will be a strong award for the company, this is a subcontract and the exact amount is not known until we see the actual quarterly or annual reports.
Perma-Fix is a very small company with its entire revenues being $54.1 million in all of 2007 and $87.9 million in 2006.
Jon C. Ogg
June 20, 2008
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