Amerex Group, Inc. 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.
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