Met-Pro Receives Equipment Order Totaling $585,000 in Combined Effort Between Four Divisions
Met-Pro Receives Equipment Order Totaling $585,000 in Combined Effort Between Four Divisions
HARLEYSVILLE, Pa., July 9 William L. Kacin, Chairman and Chief Executive Officer of Met-Pro Corporation , announced today that the Company has received a significant order as a direct result of the synergistic relationship between four of the Company's divisions. The order, which was received from a major U.S. supplier of parts to the automotive industry, includes twelve (12) Mefiag horizontal disc filter systems, thirteen (13) Sethco cartridge filter systems and five (5) Duall scrubber systems. The Mefiag filter systems will also incorporate twelve (12) Series 1500 fiberglass reinforced pumps from Met-Pro's Fybroc Division. The total value of this order is $585,000 and it is expected to be installed by October 2001. All equipment included in this order is for use on automatic plating lines where plastic automotive parts will be plated with copper, nickel and chrome. The combination of Mefiag disc filters and Sethco cartridge filters will be used for filtering the plating solutions. Almost 132,000 gallons per hour will be filtered by these systems. The five Duall scrubber systems will handle mists from the same plating solutions plus hydrochloric acid and nitric acid vapors and mists. These systems, which have a total capacity of more than 200,000 CFM, are all PVC construction for maximum corrosion resistance and utilize the classic push- pull ventilation configuration which will save the customer more than 50% on exhaust air and floor space. "One of the Company's stated goals is to capitalize on the synergies between our divisions," said Kacin. "Our common contacts, business relationships and market presence combined with a cooperative sales effort were major factors in securing this order. We continue to pursue other similar opportunities." Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, is a manufacturer of air and water pollution control systems; fume scrubbers and odor control equipment; fluid handling equipment for corrosive, abrasive and high temperature liquids; filter products for drinking water, industrial and custom applications; wet and dry particulate dust collectors; specialty chemicals for controlling corrosion and reducing lead/copper in public drinking water; and state-of-the-art fans for laboratory and clean room applications. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press 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) contains 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 of purchase orders, product development activities, computer systems implementation, dependence on existing management, the continuation of effective cost and quality control measures, global economic and market conditions, and changes in federal or state laws. Met-Pro stock is 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 Web site at http://www.met-pro.com.