Met-Pro Corporation's Environmental Air Solutions Business Unit Receives Equipment Order in Russian Federation
HARLEYSVILLE, Pa., March 7, 2012 /PRNewswire/ -- Met-Pro Corporation (NYSE: MPR) today announced that the Company's Environmental Air Solutions business unit has received an order to supply a Flex-Kleen® brand dust collection system to a petrochemical refinery located in The Russian Federation. The total value of the order is approximately $600,000 and is expected to ship in the third quarter of the Company's current fiscal year.
The dust collection system, which will collect and recover precious metals from a high temperature process air stream, is the second large international order received this month for Flex-Kleen® brand equipment. Earlier this month the company announced receipt of a $675,000 dust collection system order to be installed in South America.
"Consistent with our global strategy, this order demonstrates the ability of our Environmental Air Solutions business unit to provide international customers with a unique, single source for their product recovery and pollution control needs," said De Hont. "Both orders reinforce the reputation of Met-Pro Environmental Air Solutions as a global leader in the product recovery and air pollution control field and give us continued optimism for future international orders of this type."
Met-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.
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.
Raymond J. De Hont
Chairman and Chief Executive Officer
Joseph Hassett, SVP
Gregory FCA Communications
SOURCE Met-Pro Corporation
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