PMFG, Inc. (Parent of Peerless Mfg. Co.) Awarded Three New Orders With a Combined Value of Over $8.5 Million

PMFG, Inc. (Parent of Peerless Mfg. Co.) Awarded Three New Orders With a
Combined Value of Over $8.5 Million

DALLAS, Jan. 14, 2014 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company")
(Nasdaq:PMFG) today announced that it has been awarded three separate
contracts with a combined value of over $8.5 million. In our Environmental
Systems segment, we were awarded two projects. The first project is an SCR/CO
exhaust system to be installed in a combined-cycle natural gas fired turbine
power plant application. This equipment will reduce both NOX and CO emissions
by at least 90% for an electric power generation facility in the northeast
region of the United States. The second project is for the installation of
emission control systems on power drivers for existing natural gas pipeline in
the southeastern region of the United States. In our Process Products segment,
we were awarded a project to design and fabricate a steam blow down separator
for use on steam assisted gravity drainage ("SAGD") oil recovery operations in
Canada. The Company expects to recognize revenue related to these projects
over the balance of fiscal year 2014 and the first half of fiscal year 2015.

Peter J. Burlage, PMFG's Chief Executive Officer said, "As we outlined in our
recent conference calls, we expect the power generation, natural gas value
chain and the refinery markets to be key drivers for our company. These wins
are certainly representative of the opportunities within these markets and I
expect they will continue to play a significant role for us in fiscal 2014 and
beyond. The new combined cycle plant under construction is indicative of the
relative cost of natural gas as a fuel source and the significant cost
implications for existing coal fired facilities to meet regulatory
requirements. While Peerless has played a significant role in providing
separation and filtration equipment for use in natural gas infrastructure
within the United States, the recent project allows us an opportunity to
introduce our SCR technology to assist our customer in meeting the stringent
emission regulations."

About PMFG

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.

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. 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 29, 2013. 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, except as
required by law. 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
         PMFG, Inc.
         14651 North Dallas Parkway, Suite 500
         Dallas, Texas 75254
         Phone: (214) 357-6181
         Fax:   (214) 351-4172
         www.peerlessmfg.com
        
         or
        
         Shawn Severson
         The Blueshirt Group
         Managing Director, Energy Technology Practice
         Phone: (415) 489-2198
         shawn@blueshirtgroup.com

PMFG, Inc.
 
Press spacebar to pause and continue. Press esc to stop.