PMFG, Inc. Awarded Separation Equipment Orders Valued in Excess of $5 Million
DALLAS, Jan. 8, 2013 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company")
(Nasdaq:PMFG) today announced it was awarded two separation equipment orders
with an aggregate value in excess of $5 million.
The first order is for steam separators to be installed at a nuclear power
plant in the United States, with delivery expected in late calendar 2013.
These units will be manufactured at PMFG's plant in Denton, Texas. These steam
separators are replacement units for a BWR reactor as part of the plant's
relicensing process. Only the portion of this award that has been released by
the customer will be included in our backlog at the end of December.
The second order is for production separators for a South American natural gas
project, with delivery expected in late summer of calendar 2013. The Company
will fabricate the equipment in the United States.
PMFG's Chief Executive Officer, Peter Burlage, stated, "Opportunities to
provide replacement steam separators both in the United States and globally in
connection with relicensing of nuclear facilities represents a significant
opportunity for the Company. We believe nuclear power generation will continue
to play a material role in the generation of electricity globally. We expect
the demand for replacement units to rival or even exceed the demand for steam
separators in emerging markets such as China over the foreseeable future. We
believe the recent order in Latin America and in particular the short delivery
schedule is a positive indication that the numerous anticipated capital
projects are beginning to move forward."
We are a leading provider of custom-engineered systems and products designed
to help ensure that the delivery of energy is safe, efficient and clean.We
primarily serve the markets for power generation, natural gas infrastructure
and petrochemical processing.Headquartered in Dallas, Texas, we market our
systems and products worldwide.
The PMFG, Inc. logo is available at
Safe Harbor Under The Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release that are not historical
facts are forward-looking statements that involve a number of known and
unknown risks, uncertainties and other factors that could cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievement expressed or implied by
such forward-looking statements. The words "anticipate," "expect," "believe,"
"intend" and similar expressions identify forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for
such forward-looking statements. In order to comply with the terms of the safe
harbor, the Company notes that a variety of factors could cause actual results
and experience to differ materially from the anticipated results or other
expectations expressed in such forward-looking statements. These risks and
uncertainties include the Company's ability to raise additional capital and to
execute its plans and strategies. Other important information regarding
factors that may affect the Company's future performance is included in the
public reports that the Company files with the SEC, including the information
under Item 1A. "Risk Factors" in the Company's Annual Report on Form 10-K for
the fiscal year ended June 30, 2012. The Company undertakes no obligation to
revise any forward-looking statements or to update them to reflect events or
circumstances occurring after the date of this release, or to reflect the
occurrence of unanticipated events. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. The inclusion of any statement in this release does not constitute an
admission by the Company or any other person that the events or circumstances
described in such statement are material.
CONTACT: Mr. Peter J. Burlage, Chief Executive Officer
Mr. Ronald L. McCrummen, Chief Financial Officer
14651 North Dallas Parkway, Suite 500
Dallas, Texas 75254
Phone: (214) 357-6181
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