HARLEYSVILLE, Pa., March 4 /PRNewswire-FirstCall/ -- Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR), announced today that the Company's Systems Division has received an order to supply a custom-designed catalytic oxidation system to a major pharmaceutical company in the Northeast United States. The total value of this order is approximately $600,000. The state-of-the-art equipment is expected to ship in the second quarter of the Company's current fiscal year.
Working with a Pennsylvania-based engineering firm, Systems Division was awarded the project based on their solid reputation within the pharmaceutical industry and their ability to provide the optimal equipment for controlling alcohol emissions. This skid-mounted air pollution control system will be engineered, fabricated, installed, and tested by Systems Division on a fast- track basis. The equipment will incorporate continuous emissions monitoring demanded by strict New Jersey requirements.
"This project is another example of Systems Division's strong presence in the pharmaceutical industry and reinforces their reputation as a supplier of choice for field proven multi-discipline solutions to tough air pollution control problems," stated De Hont. "Together with the momentum we have developed during our recently ended fiscal year in which we reported record revenues and earnings, and a steady level of customer interest and quotation activity, it allows us to remain optimistic about our prospects for the current fiscal year."
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, was recently recognized, for the second consecutive year, as one of America's "200 Best Small Companies" by Forbes magazine. The Company was also recently named as one of America's "Top Publicly-Held Manufacturers" by Start-It magazine. Through its business units, in the United States, Canada, Europe and The People's Republic of China, a wide range of products and services are offered for industrial, commercial, municipal and residential markets worldwide. These include product recovery and pollution control technologies for purification of air and liquids; fluid handling technologies for corrosive, abrasive and high temperature liquids; and filtration and purification technologies including proprietary water treatment chemicals and filter products. For more information, please visit http://www.met-pro.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release, and other materials filed or to be filed with the Securities and Exchange Commission (as well as information included in oral or other written statements made or to be made by the Company) contain statements that are forward-looking. Such statements may relate to plans for future expansion, business development activities, capital spending, financing, the effects of regulation and competition, or anticipated sales or earnings results. Such information involves risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to, the cancellation or delay of purchase orders and shipments, product development activities, computer systems implementation, dependence on existing management, the continuation of effective cost and quality control measures, retention of customers, global economic and market conditions, and changes in federal or state laws.
Met-Pro common shares are traded on the New York Stock Exchange, symbol MPR.
To obtain an Annual Report or additional information on the Company,
please call 215-723-6751 and ask for the Investor Relations Department, or
visit the Company's Web site at http://www.met-pro.com.
Gary J. Morgan, Joseph Crivelli,
Senior Vice President of Finance, CFO Executive Vice President
215-723-6751, email@example.com Gregory FCA Communications
610-642-8253 extension 123
|SOURCE Met-Pro Corporation|
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