Perma-Fix Restructures Industrial Services Segment

Date: December 8, 2003

Source: News Room

Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) has announced a restructuring and reduction in force within its Industrial Services Segment to improve margins and increase profitability. The reduction in force eliminated approximately 50 jobs. In addition, the segment has changed its strategic direction away from low-margin broker disposal services, to a more customer-direct regional sales and operations strategy. The restructuring will be completed in the fourth quarter of 2003 and will result in a charge of approximately $200,000; the workforce reduction will result in annual savings of approximately $3.2 million.
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