Amerex Group Signs Letter of Intent to Purchase Waste Treatment Facility
NEW YORK, Sept. 5 -- Amerex Group, Inc. (BULLETIN BOARD: AEXG) announced today that it has entered into a Letter of Intent to purchase Perma-Fix Treatment Services, Inc. of Tulsa, OK from Perma-Fix Environmental Services, Inc. (Nasdaq: PESI; BSE: PESI; Germany: PES.BE). This transaction is subject to Amerex completing its due diligence and the parties entering into a definitive agreement. Perma-Fix Treatment Services, housed on more than 25 acres, and licensed to accept an extensive list of waste materials, includes a water treatment facility.
The initial terms of the agreement stipulate that Amerex will pay $2.2 million for all of the assets and the assumption of certain liabilities of Perma-Fix Treatment Services, Inc., and final terms will be determined prior to September 30, 2007 at which time the parties are expected to have executed a definitive Purchase/Sale Agreement.
Nicholas Malino, CEO of Amerex stated, "This transaction will greatly expand our service capabilities at our Tulsa facility and accelerate our growth plans. We are still working out the details and performing due diligence, however, it appears that once the transaction is complete, it is expected to be immediately accretive to earnings." Mr. Stephen Onody, Amerex's COO added, "This transaction will give Amerex a second fully-licensed RCRA facility, and since the facility has good rail access, it fits nicely with our developing strategic relationship with XInterchange." Dr. Louis F. Centofanti, Chairman and Chief Executive Officer of Perma-Fix Environmental Services, Inc. said, "We are pleased to be working with Amerex on this transaction, which is another step in our plan to focus our efforts on our core nuclear business."
About Amerex Group, Inc:
Amerex Group, Inc. is a hazardous waste transportation and logistics firm with capabilities to provide emergency response to environmental emergencies. The Company has multiple facilities including a hazardous waste treatment, storage and disposal facility licensed under the Resource Conservation and Recovery Act Part B and a trucking fleet to transport hazardous waste throughout the USA. Amerex is headquartered in New York City with its administrative headquarters in Tulsa, OK.
About Perma-Fix Environmental Services:
Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Company has increased its focus on the Nuclear services segment, which provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including DOE and the U.S. Department of Defense and nuclear utilities. The Industrial services segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The Company operates nine major waste treatment facilities across the country.
Source: Amerex Group, Inc.
CONTACT: Mr. Nicholas Malino, CEO of Amerex, +1-212-508-4754
Web site: http://www.amerexcos.com/
http://www.perma-fix.com/
