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PMFG, Inc. (Parent Of Peerless Mfg. Co.) Announces Changes To Its Manufacturing And Supply Chain Leadership

DALLAS, July 10, 2014 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that Steve LeFavour will become Director, Americas Manufacturing and Supply Chain. Mr. LeFavour joined the Company in August 2011 with over 30 years of experience in heavy manufacturing and nuclear submarine construction and overhaul. Mr. LeFavour has played a critical role in recruiting and aligning the Company's Quality Assurance team, as well as designing and implementing processes to serve the increasing demands of our customers and the markets we pursue. Mr. LeFavour will be responsible for leading and improving the efficiency and effectiveness of the Company's manufacturing and supply chain organization in the Americas region. Mr. LeFavour replaces the former Vice President of Manufacturing and Supply Chain, who has elected to pursue opportunities outside of the Company.

Peter Burlage, President and Chief Executive Officer, commented, "The Company's net bookings in the Americas region have increased over 20 percent in the fiscal year ending June 28, 2014 when compared to the prior year. Ensuring that our manufacturing and supply chain operations are both efficient and effective will be critical as we work through the projects currently in backlog, as well as respond to the complexities that result from higher relative fabrication of environmental systems and nuclear-related projects. Mr. LeFavour's process-focused orientation and experience in leading complex manufacturing operations will be critical in streamlining the manufacturing and supply chain operations and addressing the activities contributing to the manufacturing inefficiencies and project overruns experienced following the consolidation of the Company's U.S. manufacturing operations."

Mr. Burlage continued, "We are also making progress in replacing our recently retired Board member, Sherrill Stone. We have engaged an executive search firm to help our efforts to find a strong, well-qualified, independent director. We have tremendous growth opportunities and operational challenges in front of us and we are dedicated to building the best leadership team possible to move the Company forward in a way that maximizes benefits for our stockholders, employees and customers."

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