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PMFG, Inc. (Parent Of Peerless Mfg. Co.) Awarded Two New Material Orders With A Combined Value Of Over $9 Million

Stocks in this article: PMFG

DALLAS, April 21, 2014 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that it has been awarded two contracts with a combined value of greater than $9 million. Both contracts will be reflected within the Company's Environmental Systems reporting segment. The first contract is for a turnkey SCR system to be retrofitted into a biomass-fired utility boiler in the northeastern United States for NO x emission reductions. This project includes modifications to the existing SNCR system to enhance its efficiency. This is the fourth SCR system provided to the same end user. The second contract is for two SCR systems to be installed on a combined-cycle power plant in the Mid-Atlantic region of the United States.

Peter J. Burlage, PMFG's Chairman and Chief Executive Officer said, "The first order was made possible by our recent acquisition of substantially all the assets of Combustion Components Associates, Inc. which is now operating under the name CCA Combustion Systems and is part of our Environmental Systems reporting segment. With the expertise of CCA Combustion Systems, we have significantly expanded our combustion and air-pollution control capabilities and now have a more comprehensive solution for our customers around the world. CCA Combustion Systems can optimize the performance of the combustion process and further reduce emissions through SNCR or SCR to achieve an optimal solution. Our pipeline of opportunities for this type of work remains strong. We expect growth will be driven by new and more stringent environmental regulations, which are leading industrial and small utility-boiler owners and operators to evaluate an array of alternative fuel choices as they attempt to comply. Our broader portfolio of products also will help to leverage growth in developing economies as they are faced with air-pollution challenges and where our SNCR technology will be a key solution."

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