PMFG, Inc. (Parent Of Peerless Mfg. Co.) Announces The Formation Of Peerless Asia Pacific Pte Ltd.
DALLAS, July 15, 2010 (GLOBE NEWSWIRE) -- PMFG, Inc. (Nasdaq:PMFG) announced today the formation of its new wholly-owned subsidiary office in Singapore, Peerless Asia Pacific Pte Ltd. This new company will replace the former Peerless Mfg. Co. regional sales office providing complete sales and project execution services for all Peerless and Burgess Manning products throughout Southeast Asia. In addition, Peerless' Environmental Systems products will be integrated to support the regional demands for NOx reduction and air pollution control systems.
The formation of this new company coincides with the restructuring of our Asia Pacific sales network for our Burgess Manning Silencer and Separation equipment product lines. Peerless has also restructured certain license agreements and sales representative agreements in the Asia-Pacific region in order to better service its customers in that territory. Peerless and Jord International Pty Ltd, a former licensee and distributor of Burgess-Manning products in the Asia-Pacific region, mutually agreed to terminate their business relationship in the fourth quarter of fiscal year 2010. Peerless has also partnered with Miura Chemicals, a Japanese company and long standing licensee and distributor of Burgess-Manning products, to provide equipment and services to Peerless customers in Japan and South Korea for Silencer and Separation equipment other than the nuclear power segment.
"This new business structure will provide a more direct relationship with our customers so that their needs can be addressed with Singapore-based staff which will result in more timely responses," said Peter Burlage, PMFG's President and Chief Executive Officer. "The coordination of this new subsidiary in Singapore with Peerless' manufacturing facility in Zhenjiang, China, provides a stronger foundation to execute projects throughout the region."Peerless has been active in the Asian market for over thirty years and established operations in Singapore in 1991 and has been continually growing to now offer a full range of technology and services across the company's Environmental Systems, Heat Exchanger, Silencer and Separation/Filtration Equipment.
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