Met-Pro Corporation's Strobic Air Subsidiary Receives Equipment Order Totaling Approximately $950,000
HARLEYSVILLE, Pa., Aug. 18 Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR), announced today that the Company's Strobic Air subsidiary has received an order totaling approximately $950,000. This order, which will provide laboratory fume hood exhaust for a premier health facility in the Northeast United States, is expected to ship in the fourth quarter of the Company's current fiscal year ending January 31, 2011.
Strobic Air was awarded this contract based on their reputation for supplying best-in-class low profile exhaust systems. For this project, Strobic Air will supply a total of nine Tri-Stack® fans mounted on three Energy Recovery Units. These systems will utilize Strobic Air's patented Acoustical Silencer Nozzle and Acoustical Windband technology and also incorporate Strobic Air's patent-pending Tri-Stack® Smart System(TM), which minimizes fan energy consumption while maintaining a safe laboratory environment.
"This order reinforces Strobic Air's reputation as the supplier of choice for technologically advanced exhaust systems and represents a prime example of Met-Pro's green design initiative," stated De Hont. "We are pleased with the market's continuing interest in our industry-leading technologies and remain optimistic about our prospects for future awards of this type as our large project quotation activity remains steady, adding to an already significant pipeline of opportunities."
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: Gary J. Morgan, Joseph Hassett, SVP Senior Vice President of Finance, CFO Gregory FCA Communications 215-723-6751 610-228-2110
SOURCE Met-Pro Corporation
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