HARLEYSVILLE, Pa., Jan. 21 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 orders, totaling approximately $500,000, from two premier pharmaceutical companies in the United States. These orders are expected to ship in the first quarter of the Company's next fiscal year, which begins on February 1, 2010.
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For these projects, Strobic Air will supply a total of fifteen (15) Tri-Stack(TM) fans on custom plenums, which will be used for laboratory fume hood exhaust. Each fan will utilize Strobic Air's patented Acoustical Silencer Nozzle and Acoustical Windband technology.
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Strobic Air was awarded these contracts based on their reputation for supplying best-in-class low profile exhaust systems that are specifically designed to handle the complex issues of laboratory exhaust.
"These orders follow more than $1.4 million in orders for air pollution control equipment already announced this week," stated De Hont. "We are pleased with the market's continued interest in our industry-leading technologies and remain optimistic that we can build on our recent success in closing these large projects to achieve similar additional awards in the future."
About Met-Pro
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, was recently recognized as one of "America's Fastest Growing Small Companies" by Fortune Small Business 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 is 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; Mefiag filtration technologies for harsh, corrosive liquid filtration applications; and filtration and purification technologies which include proprietary water treatment chemicals and filter products for air and liquid filtration. 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: Gary J. Morgan, Joseph Hassett, VP Senior Vice President of Finance, CFO Gregory FCA Communications 215-723-6751 610-228-2110
SOURCE Met-Pro Corporation
