Met-Pro Corporation's Strobic Air Business Unit Receives International Equipment Order Totaling Approximately $1.0 Million
HARLEYSVILLE, Pa., June 15, 2011 /PRNewswire/ -- Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR), announced today that the Company's Strobic Air business unit has received an order valued at approximately $1.0 million, for research laboratory fume hood exhaust systems to be installed at a premier university outside of the United States. This order is expected to ship in the third quarter of the Company's current fiscal year.
Strobic Air will supply a total of 11 Tri-Stack® fans, all of which will utilize Strobic Air's patented Acoustical Silencer Nozzle and Acoustical Windband technology, allowing the university to meet local air quality regulations. The order will also include four Energy Recovery Units, which will drastically reduce the laboratory's energy costs.
"This order, together with the more than $700,000 of international orders for Strobic Air systems announced last week, demonstrates Met-Pro's broad international reach and reinforces Strobic Air's reputation for technologically advanced, energy-efficient, and environmentally-friendly exhaust systems," stated De Hont. "We are encouraged by our success in being selected for these projects and remain optimistic that circumstances are improving for the release of other large projects we are pursuing."
About Met-Pro
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, is a leading niche-oriented global provider of product recovery, pollution control and fluid handling solutions. The Company's diverse and synergistic solutions and products address the world's growing need to meet more stringent emission regulations, reduce energy consumption and employ green technology. Through its global sales organization, internationally recognized brands, and operations in the United States, Canada, 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.
Contact: |
Investor Contact: |
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Gary J. Morgan, |
Joseph Hassett, SVP |
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Senior Vice President of Finance, CFO |
Gregory FCA Communications |
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215-723-6751 |
610-228-2110 |
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SOURCE Met-Pro Corporation
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