PMFG, Inc. Awarded Separation Equipment Orders Valued In Excess Of $5 Million

DALLAS, Jan. 8, 2013 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced it was awarded two separation equipment orders with an aggregate value in excess of $5 million.

The first order is for steam separators to be installed at a nuclear power plant in the United States, with delivery expected in late calendar 2013. These units will be manufactured at PMFG's plant in Denton, Texas. These steam separators are replacement units for a BWR reactor as part of the plant's relicensing process. Only the portion of this award that has been released by the customer will be included in our backlog at the end of December.

The second order is for production separators for a South American natural gas project, with delivery expected in late summer of calendar 2013. The Company will fabricate the equipment in the United States.

PMFG's Chief Executive Officer, Peter Burlage, stated, "Opportunities to provide replacement steam separators both in the United States and globally in connection with relicensing of nuclear facilities represents a significant opportunity for the Company. We believe nuclear power generation will continue to play a material role in the generation of electricity globally. We expect the demand for replacement units to rival or even exceed the demand for steam separators in emerging markets such as China over the foreseeable future. We believe the recent order in Latin America and in particular the short delivery schedule is a positive indication that the numerous anticipated capital projects are beginning to move forward."

About PMFG

We are a leading provider of custom-engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. We primarily serve the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, we market our systems and products worldwide.

If you liked this article you might like

Insider Trading Alert - EVLV, AUBN And PMFG Traded By Insiders

Oversold Conditions For PMFG

Insider Trading Alert - PMFG, GPOR And CNSL Traded By Insiders

4 Under-$10 Stocks to Trade for Breakouts

5 Stocks Set to Soar on Bullish Earnings