Met-Pro Corporation's International Division Receives Equipment Order Totaling Approximately $2.7 Million
November 29 2007 - 10:00AM
PR Newswire (US)
HARLEYSVILLE, Pa., Nov. 29 /PRNewswire-FirstCall/ -- Raymond J. De
Hont, Chairman and Chief Executive Officer of Met-Pro Corporation
(NYSE:MPR), announced today that the Company's International
Division, in cooperation with the Company's Duall and Flex-Kleen
Divisions, has received an order from a paper mill in South America
to supply two boiler flue gas treatment systems utilizing Duall
scrubbers and Flex-Kleen dust collectors. The total value of this
order is approximately $2.7 million. The equipment is expected to
ship in the fourth quarter of the current fiscal year ending
January 31, 2008. The flue gas treatment systems will allow the
paper mill to use lower cost fuels in their boilers and still
comply with sulfur dioxide and particulate emission regulations,
which will result in significant cost savings for the customer.
This order is from a repeat customer who has a similar Met-Pro
system in operation at another facility also located in South
America. The successful installation and performance of that
equipment played a major role in the Company being awarded this new
order. Met-Pro's extensive experience and proven track record in
providing solutions for difficult air pollution control problems
along with its ability to meet the customer's accelerated delivery
schedule were also major factors in procuring this order. "Our
ability to uncover new international sales opportunities continues
to grow," stated De Hont. "This order is another example of Met-Pro
capitalizing on the synergies between our divisions and our ability
to package our products. It is also a prime example of Met-Pro's
ability to quickly execute large projects to meet accelerated
customer delivery requirements. We are excited about the steady
stream of customer interest in our products worldwide and remain
optimistic about our prospects for the fourth quarter." About
Met-Pro Met-Pro Corporation, with headquarters at 160 Cassell Road,
Harleysville, Pennsylvania, was recently recognized, for the second
consecutive year, as one of America's "200 Best Small Companies" by
Forbes magazine. The Company was also recently named as one of
America's "Top Publicly-Held Manufacturers" by Start-It magazine.
Through its business units, in the United States, Canada, Europe
and The People's Republic of China, a wide range of products and
services are 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; and filtration and purification technologies
including proprietary water treatment chemicals and filter
products. 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
VP of Finance, CFO 215-723-6751 DATASOURCE: Met-Pro Corporation
CONTACT: Gary J. Morgan, Senior VP of Finance, CFO, of Met-Pro
Corporation, +1-215-723-6751, Web site: http://www.met-pro.com/
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