ATLANTA, Nov. 10, 2011 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq:PESI) today announced the appointment of Mr. Christopher Leichtweis as Senior Vice President of the Company and President of the Company's new wholly owned subsidiary, Safety & Ecology Holdings Corporation and its subsidiaries (SEC). Prior to the Company's acquisition of SEC, Mr. Leichtweis served as president and CEO of SEC. Mr. Leichtweis was appointed to this new position with the Company upon the acquisition of SEC.
Mr. Leichtweis, age 52, founded SEC in 1991 and brings over 28 years of industry experience, including project management and technical expertise. Prior to founding SEC, Mr. Leichtweis served in various engineering and management positions at Bechtel National and Bechtel Environmental, Inc., a global engineering and construction company, and was a key contributor to the environmental clean-up of major federal nuclear legacy programs. Mr. Leichtweis earned a B.S., in Engineering Physics from SUNY Brockport in 1983 and received his MBA from the University of Tennessee in December 2003. In addition, he is a Certified Industrial Hygienist by the American Board of Industrial Hygiene. Mr. Leichtweis was nationally recognized as the Southeast United States 2005 Ernst & Young Entrepreneur of the Year award.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "We are excited to welcome an industry veteran of Christopher's caliber to our team. He brings a wealth of industry and leadership experience that will be valuable as we focus on aggressively growing the nuclear services side of our business."
In connection with, and as an incentive to, Mr. Leichtweis' employment with the Company, the Company granted to Mr. Leichtweis a nonqualified stock option (the "Option") to purchase up to 250,000 shares of the Company's common stock at an exercise price of $1.35 per share. The exercise price is the closing price of the Company's common stock as reported on the NASDAQ on the grant date. The Option has a term of 10 years from grant date, with 25% yearly vesting over a four year period.
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. provides nuclear waste treatment and onsite services. The Company's nuclear waste treatment services include radioactive and mixed waste treatment for hospitals, research labs and institutions, federal agencies, including the Department of Energy ("DOE"), the Department of Defense ("DOD"), and nuclear utilities. The Company's onsite services group provides waste management personnel on clients' sites for a variety of commercial and government customers. Nationwide, the Company operates four nuclear waste treatment facilities.
Please visit us on the World Wide Web at http://www.perma-fix.com.
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