
Met-Pro Environmental Air Solutions Business Unit Receives Aftermarket Parts Order in Excess of $650,000
HARLEYSVILLE, Pa., Sept. 17 /PRNewswire/ -- Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR), announced today that the Company's Met-Pro Environmental Air Solutions business unit has received an aftermarket parts order in excess of $650,000 for one of the largest automotive manufacturers in the United States.
This order consists of consumable parts for several rotary concentrators supplied by a competitor that are used in conjunction with the competitor's thermal oxidation system, which eliminates volatile organic solvent exhaust fumes from automotive paint application equipment before they are discharged into the atmosphere. It is expected to ship during the fourth quarter of the Company's current fiscal year ending January 31, 2011.
"This order validates that original equipment sales, both ours and our competitors', continue to be a tremendous source of aftermarket sales opportunities for Met-Pro Corporation," stated De Hont. "It is another example of Met-Pro's ability to successfully compete for revenues attributable to recurring demand for parts and consumables for our competitors' base of installed equipment. Together with a steady stream of customer interest, it allows us to remain optimistic regarding the future growth of our aftermarket business."
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, 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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