Met-Pro Corporation's Environmental Air Solutions Business Unit Receives New Order Totaling in Excess of $3.5 Million
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Harleysville, PA - Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE:MPR), announced today that the Company's Environmental Air Solutions business unit has received an order valued in excess of $3.5 million from a global manufacturer of consumer and industrial building products to supply a Bio-Reaction® brand biological air pollution control system. This order is expected to ship in the third quarter of the Company's next fiscal year.
The system, which utilizes Met-Pro's patented BiooairSPHERES(TM) media for digestion and final breakdown of contaminants, is specifically designed to remove Hazardous Air Pollutants (HAPs), such as formaldehyde and methanol, and convert them to carbon dioxide and water vapor that can be safely released into the atmosphere.
Met-Pro Environmental Air Solutions was selected for this project based on the Bio-Reaction® brand's previous experience on similar building products applications and the results of an intensive pilot study performed at the customer's facility, which proved not only that the system can meet or exceed the customer's emission requirements but can also potentially reduce their existing capital and operating costs for air emissions.
"When we acquired substantially all of the assets of Bio-Reaction Industries LLC ('BRI'), a pioneer in environmentally friendly air pollution control systems utilizing state-of-the-art biological technology, we believed Its patented biological technology was a perfect complement to our Met-Pro Environmental Air Solutions' thermal oxidizer and chemical scrubber technologies and that it would strengthen our 'Total Air Solutions' value proposition, allowing us to better address the increasingly more stringent environmental regulations and the global focus on greenhouse gas reduction," said De Hont. "This order, together with the growing pipeline of opportunities for future Bio-Reaction® brand orders, validates this belief and allows us to remain optimistic about future orders of this type."
About Met-Pro
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, is a leading niche-oriented global provider of product recovery, pollution control, fluid handling and filtration solutions. The Company's diverse and synergistic solutions and products address the world's growing need for clean air and water, reduced energy consumption and improved operating efficiencies. Through its global sales organization, internationally recognized brands, and operations in North America, South America, Europe and The People's Republic of China, Met-Pro's solutions, products and systems are sold to a well-diversified cross-section of customers and markets around the world.
For more information, please visit www.met-pro.com.
Met-Pro common shares are traded on the New York Stock Exchange, symbol MPR.
