Met-Pro Corporation's Systems Division Receives Equipment Order Totaling Approximately $700,000
May 08 2007 - 10:20AM
PR Newswire (US)
HARLEYSVILLE, Pa., May 8 /PRNewswire-FirstCall/ -- Raymond J. De
Hont, Chairman and Chief Executive Officer of Met-Pro Corporation
(NYSE:MPR), announced today that the Company's Systems Division has
received an order to supply a custom-designed recuperative thermal
oxidation system to a major U. S. based pharmaceutical company. The
total value of this order is approximately $700,000. The
state-of-the-art equipment is expected to ship in the fourth
quarter of the Company's current fiscal year. Working closely with
a New Jersey-based pharmaceutical consulting firm, Systems Division
was awarded this project based on their solid reputation within the
pharmaceutical industry and their ability to provide the optimal
equipment for this critical application. This fully skid-mounted
pollution control system, which will be installed in Puerto Rico,
will control acetone emissions while incorporating heat recovery to
minimize fuel consumption. "This project is another example of
Systems Division's strong presence in the pharmaceutical industry
and reinforces their reputation as a supplier of choice for field
proven multi-discipline solutions to tough air pollution control
problems," stated De Hont. "Together with our strong backlog, which
was $30 million at the end of our recently completed first quarter,
and steady level of customer interest and quotation activity, it
allows us to remain optimistic about our prospects for the current
fiscal year." About Met-Pro Met-Pro Corporation, with headquarters
at 160 Cassell Road, Harleysville, Pennsylvania, was recently
recognized as one of America's "200 Best Small Companies" by Forbes
magazine. The Company, which manufactures and sells product
recovery and pollution control equipment for purification of air
and liquids and fluid handling equipment for corrosive, abrasive
and high temperature liquids, was established in 1966. It provides
products to residential, commercial, industrial and municipal
markets that include, but are not limited to, pharmaceuticals,
chemicals, petrochemicals, water and aquariums. For more
information, please visit http://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 press 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, 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 Web site at
http://www.met-pro.com/ Investor Contact: Gary J. Morgan, Senior
Vice President of Finance, CFO 215-723-6751, DATASOURCE: Met-Pro
Corporation CONTACT: Gary J. Morgan, Senior Vice President of
Finance, CFO of Met-Pro Corporation, +1-215-723-6751, or Web site:
http://www.met-pro.com/
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