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Met-Pro Corporation's Strobic Air Subsidiary Receives Equipment Order in Excess of $800,000
PR Newswire, June 10, 2008
HARLEYSVILLE, Pa., June 10 /PRNewswire-FirstCall/ -- Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation , announced today that the Company's Strobic Air subsidiary has received an order in excess of $800,000 from a prestigious university in the Northeastern United States. All of the equipment is expected to ship during the third quarter of the Company's current fiscal year ending January 31, 2009.
"This order reinforces Strobic Air's reputation as the supplier of choice for technologically advanced fume hood exhaust systems at institutional, industrial, and government laboratories," said De Hont. "It follows a $500,000 order for similar Strobic Air equipment announced last week. We remain optimistic about our prospects for future orders at Strobic Air based on successes in the market as well as the steady level of customer interest and quotation activity for similar type projects."
For this project, Strobic Air will supply a total of eight (8) Tri-Stack(TM) fans, utilizing two (2) heat recovery plenums that will be used to exhaust laboratory fumes. Strobic Air was awarded this contract based on their best-in-class reputation for supplying low profile exhaust systems that are specifically designed to handle the complex issues of laboratory exhaust. Each of the fans will be equipped with Strobic Air's patented acoustical silencer nozzle, which minimizes sound output levels at the fan discharge.
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 the world's "Top Small to Midsize Manufacturers" by Start-It magazine for the second year in a row. 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; 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 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 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, 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 http://www.met-pro.com/.
Investor Contact: Gary J. Morgan, Joseph Hassett, VP Senior Vice President of Finance, CFO Gregory FCA Communications 215-723-6751, gmorgan@met-pro.com 610-642-8253 extension 120
CONTACT: Investors, Gary J. Morgan, Senior Vice President of Finance, CFO, of Met-Pro Corporation, +1-215-723-6751, gmorgan@met-pro.com; or Joseph Hassett, VP, of Gregory FCA Communications, +1-610-642-8253, ext. 120, for Met-Pro Corporation
Web site: http://www.met-pro.com/
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