PMFG, Inc. (Parent Of Peerless Mfg. Co.) Awarded Three New Orders With A Combined Value Of Over $7 Million

DALLAS, Sept. 25, 2013 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that it has been awarded three separate contracts with a combined value of over $7 million. In our Environmental Systems segment, we were awarded two projects. The first project is an SCR/CO exhaust system to be installed in a simple-cycle natural gas fired turbine application. This equipment will reduce both NOX and CO emissions by at least 90% for an electric power generation unit being installed in the north eastern region of the U.S. The second project is for an SCR system to be used in a refinery application in the upper Midwest. This SCR system is part of the customer's $400 million improvement plan to several process units intended to expand the refinery's overall capacity. In our Process Products segment, we were awarded a project for a replacement steam dryer to be installed in a nuclear power plant in northern Europe. The steam drier is part of this facility's life extension process.

Peter J. Burlage, PMFG's chief executive officer said, "As we outlined in our recent year end conference call, we expect the power generation, natural gas valuation chain and the refinery markets to be key drivers for our company. These wins are certainly representative of the opportunities within these markets and I expect they will continue to play a significant role for us in fiscal 2014 and beyond. We experienced a solid performance from our Environmental Systems division in fiscal 2013 and it is encouraging to see the momentum has continued into the first quarter of fiscal 2014 with two new wins. I am also pleased to see activity in the EMEA region, where economic and political conditions have dampened demand over the past few quarters. This order is another one of the many nuclear power plants that will go thru a re-licensing process in the coming years, of which we expect most of them to increase their steam production resulting in an opportunity for PMFG to sell replacement dryers and separators."

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