DALLAS, Jan. 19, 2012 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that it has been awarded an Environmental Systems order in excess of $3 million for Selective Catalytic Reduction ("SCR") systems for installation on boilers on a turnkey installed basis. This fast-track project requires PMFG to provide engineering, equipment, installation and start-up before June 2012. The Company's SCR systems for this application will be designed to achieve a 90% nitrogen oxide ("NOx") reduction and will utilize patented and reduction-optimizing EDGETM AIG technology. The Company's EDGE technology enhances the mixing of the NOx limiting chemicals injected into boiler exhaust stream with the exhaust gases themselves but requires less physical space for the SCR equipment than traditional SCR systems.
All of the revenue from this project is expected to be recognized in fiscal year 2012. PMFG is a leader in SCR technology, with more than 50 retrofit installations on power, petrochemical and industrial boiler applications.
"The electric power demands in Texas in the summer of 2011 impacted how power plants operate in the state, resulting in new emission-control needs prior to the expected high demand this coming summer," said Peter Burlage, President and Chief Executive Officer. "Our experience performing these accelerated retrofits for our customers sets PMFG apart from our competitors. These projects allow us to demonstrate our core competency of providing highly engineered solutions to the energy industry."
About PMFG
PMFG is a leading provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. PMFG primarily serves the markets for natural gas infrastructure, power generation and refining and petrochemical processing. Headquartered in Dallas, Texas, it markets its systems and products worldwide.
The PMFG, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5676
Safe Harbor Under The Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release that are not historical facts are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. The words "anticipate," "preliminary," "expect," "believe," "intend" and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for these forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause actual results to differ materially from the anticipated results expressed in these forward-looking statements. The risks and uncertainties that may affect the Company's results include the growth rate of the Company's revenue and market share; the receipt of new, and the non-termination of existing, contracts; the Company's ability to effectively manage its business functions while growing its business in a rapidly changing environment; the Company's ability to achieve financial and nonfinancial covenants and requirements of our debt agreements; the Company's ability to adapt and expand its services in such an environment; the quality of the Company's plans and strategies; and the Company's ability to execute such plans and strategies. Other important information regarding factors that may affect the Company's future performance is included in the public reports that the Company files with the Securities and Exchange Commission, including the information under Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended July 2, 2011. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of other events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.