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MFRI Announces Over $23 Million in New Orders for Piping

MFRI Announces Over $23 Million in New Orders for Piping Systems in
the Kingdom of Saudi Arabia 
NILES, IL -- (Marketwire) -- 11/26/12 --  MFRI, Inc. (NASDAQ: MFRI)
announced today that its Perma-Pipe Saudi Arabia subsidiary has
received several orders totaling over $23 million to supply
engineered and insulated piping products for the chilled water
distribution system utilized for a major expansion of the Haram
Sharif in Mecca, Kingdom of Saudi Arabia. 
The Haram Sharif Grand Mosque expansion is one of the most
prestigious projects in the Muslim world. The expansion project adds
an area of about 1.8 million square meters (445 acres) to the current
Mosque. The additional space will accommodate over 2 million pilgrims
at one time compared to the current structure which is limited to
620,000 pilgrims. The project also comprises a number of new hotels,
residential buildings, commercial centers and public facilities, as
well as permanent housing for the people residing in the area.
Chilled water flowing through Perma-Pipe's Poly-therm(TM) insulated
piping systems will be used for air conditioning throughout the
complex. 
Fati Elgendy, President of Perma-Pipe, said: "Nothing can express my
joy in participating in this very important infrastructure project.
It validates our decision to invest in the Kingdom and serve one of
the fastest growing markets in the world for district cooling.
Delivery for the project is expected to start in December 2012 and be
completed in the first half of 2013. We plan to produce the insulated
pipe, spools and fittings at our Saudi factory with important support
from our UAE factory." 
Bradley Mautner, President of MFRI, Inc., commented: "Fati and his
team are to be congratulated on the wonderful job they have done in
winning these major orders to support the ambitious growth plans of
the Kingdom. They have worked tirelessly with engineers and
contractors to bring Perma-Pipe's state of the art system solutions
to this complex world class project. As we ramp up production in
Saudi Arabia we certainly hope this is just the beginning of many
successful examples of how our engineering and manufacturing
capabilities add value to the growth of the Kingdom."  
"I am very pleased with our success in securing this opportunity to 
furnish our products on this significant development. Expanding our
focus to the Saudi Arabian infrastructure, industrial and oil and gas
markets fits well with the overall implementation of our business
strategy at Perma-Pipe," said David Unger, CEO, MFRI, Inc. 
For more information visit the Company's website www.mfri.com.  
Statements and other information contained in this announcement which
can be identified by the use of forward-looking terminology such as
"anticipate," "may," "will," "expect," "continue," "remain,"
"intend," "aim," "should," "prospects," "could," "position,"
"future," "potential," "believes," "plans," "likely," "seems," and
"probable," or the negative thereof or other variations thereon or
comparable terminology, constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934 as
amended and are subject to the safe harbors created thereby. These
statements should be considered as subject to the many risks and
uncertainties that exist in the Company's operations and business
environment. Such risks and uncertainties include, but are not
limited to, economic conditions, market demand and pricing,
competitive and cost factors, raw material availability and prices,
global interest rates, currency exchange rates, labor relations and
other risk factors. 
CONTACT: 
David Unger
Chairman and CEO
(847) 966-1000 
 
 
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