HARLEYSVILLE, Pa., July 31, 2012 /PRNewswire/ -- Met-Pro Corporation (NYSE: MPR), announced today that the Company's Strobic Air business unit has received three orders with a total value of approximately $1.5 million for laboratory fume hood exhaust systems. One order is to be installed at the United States headquarters of a premiere global pharmaceutical company while the other orders will be installed at laboratories at two leading U. S. universities. All three orders are expected to ship in the second half of the Company's current fiscal year.
Strobic Air was awarded these contracts based on their recognized leadership in the market for low profile exhaust systems, specifically those designed to handle the complex issues of laboratory exhaust. For two of the projects, Strobic Air will supply a total of 18 Tri-Stack® fans, all of which will utilize Strobic Air's patented Acoustical Silencer Nozzle technology. For the third project, 17 Tri-Stack® fans will be supplied.
"These orders reinforce Strobic Air's reputation as the supplier of choice for best-in-class, technologically advanced fume hood exhaust systems at industrial, institutional and government laboratories," said Raymond J. De Hont, Chairman and Chief Executive Officer. "Together with a steady level of customer interest and quotation activity, they allow us to remain optimistic about our future prospects at Strobic Air."
About Met-ProMet-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, is a leading niche-oriented global provider of product recovery, pollution control, fluid handling and filtration solutions. The Company's diverse and synergistic solutions and products address the world's growing need for clean air and water, reduced energy consumption and improved operating efficiencies. Through its global sales organization, internationally recognized brands, and operations in North America, South America, Europe and The People's Republic of China, Met-Pro's solutions, products and systems are sold to a well-diversified cross-section of customers and markets around the world. For more information, please visit 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, goodwill impairment, 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. You should carefully consider the factors discussed in Part I, "Item 1A Risk Factors" in our Annual Report on Form 10-K/A for the year ended January 31, 2012 as filed with the Securities and Exchange Commission.
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 website at www.met-pro.com.
Contact:Investor Contact: Neal E. Murphy
Joseph Hassett, SVPVice President of Finance, CFO
Gregory FCA Communications215-723-6751
|SOURCE Met-Pro Corporation|
Copyright©2012 PR Newswire.
All rights reserved