Met-Pro Corporation's Systems Business Unit Receives Equipment Order Totaling Approximately $800,000
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Met-Pro Corporation's Systems Business Unit Receives Equipment Order Totaling
Approximately $800,000
HARLEYSVILLE, Pa., Oct. 5 /PRNewswire-FirstCall/ -- Raymond J. De Hont,
Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR),
announced today that the Company's Systems business unit has received an
order, totaling approximately $800,000, to supply a thermal oxidizer system to
a chemicals company in the southern United States. This order is expected to
ship during the fourth quarter of the Company's current fiscal year.
The thermal oxidizer system, which includes an integrated quench/scrubber
system supplied by Met-Pro's Duall business unit, will destroy chlorine and
fluorine-laden off gases from ground water and soil remediation sources and
remove the resulting acid gases from the thermal oxidizer flue gas. The system
also includes heat recuperation to minimize auxiliary fuel consumption and
maximize energy efficiency.
"This order follows three other orders for pollution control equipment,
totaling approximately $2.0 million, announced in September," stated De Hont.
"It represents another example of Met-Pro's ability to provide synergistic
solutions that integrate multi-discipline technologies from the Company's
diverse product brands and reinforces Met-Pro Systems' worldwide reputation as
a supplier of choice for field-proven thermal oxidation systems. Met-Pro
Systems was selected by this repeat customer based on their extensive
experience with similar complex applications and the client's confidence in
the reliability, durability and efficiency of Met-Pro's products. In
addition, Met-Pro's ability to package a comprehensive solution utilizing
multiple Met-Pro technologies was also a major factor. We continue to be
encouraged by our success in being selected for these projects and remain
cautiously optimistic that circumstances are improving for the release of
other large projects we have been pursuing."
About Met-Pro
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville,
Pennsylvania, was recently recognized as one of "America's Fastest Growing
Small Companies" by Fortune Small Business magazine. In 2008, the Company was
also named one of America's "200 Best Small Companies" by Forbes magazine for
the third year in a row. Through its business units in the United States,
Canada, Europe and The People's Republic of China, a wide range of products
and services is 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; Mefiag filtration
technologies for harsh, corrosive liquid filtration applications; and
filtration and purification technologies which include proprietary water
treatment chemicals and filter products for air and liquid filtration. 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, goodwill impairment, 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 website at www.met-pro.com.
Contact: Investor Contact:
Gary J. Morgan, Joseph Hassett, VP
Senior Vice President of Finance, CFO Gregory FCA Communications
215-723-6751 610-228-2110
SOURCE Met-Pro Corporation
Investors: Gary J. Morgan, Senior Vice President of Finance, CFO,
+1-215-723-6751; or Joseph Hassett, VP of Gregory FCA Communications,
+1-610-228-2110
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