PMFG, Inc. (Parent of Peerless Mfg. Co.) Awarded $3.9 Million in Separation
DALLAS, March 5, 2013 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company")
(Nasdaq:PMFG) today announced that it has been awarded contracts on two
projects with an aggregate value of approximately $3.9 million for separation
equipment. Both contracts will be managed through the Company's subsidiaries
located in Europe. The Company anticipates that the majority of the revenue
from these two orders will be recognized in the first half of fiscal year
The first project is for multiple sets of filtration and separation equipment
in support of a natural gas pipeline construction project in Eastern Europe.
The second project is for steam separators designed to protect steam turbine
generators for a power plant project located in China.
Peter J. Burlage, PMFG's chief executive officer said, "These important new
contract awards for our core process products business are destined for the
emerging markets, where power demand is growing rapidly along with the
associated infrastructure to meet that demand. Whether it is the expansion or
upgrading of natural gas pipelines or new power plant construction, we have
the experience and depth of resources to provide our customers with high
quality, reliable, cost-efficient systems and products."
PMFG is a leading provider of custom-engineered systems and products designed
to help ensure that the delivery of energy is safe, efficient and clean. PMFG
primarily serves the markets for power generation, natural gas infrastructure
and petrochemical processing. Headquartered in Dallas, Texas, PMFG markets its
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
Fax: (214) 351-4172
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