DALLAS, June 2, 2015 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that it has been awarded two contracts totaling $4.3 million for SCR equipment, combustion systems, and SNCR's for petrochemical facilities in the U.S. The first project is an SCR system for a new, grassroots facility in Gulf Coast region of the United States. The SCR equipment will be delivered in the first half of fiscal year 2017. The second project is for the installation of combustion and SNCR systems on two existing waste fuel fired boilers in Texas. The Company expects to recognize revenue for this project over the balance of fiscal year 2015 and through the first half of fiscal year 2016.
Peter Burlage, Peerless' chairman and chief executive officer, commented, "The combustion and SNCR contracts are a great example of the application of the layered approach to emission control through the addition of CCA Combustion Systems. The initial air emission reduction occurs as a result of new combustion systems at the front of the boiler and additional emission reduction is achieved with the in-boiler SNCR system. We believe the equipment provides significant value to our customers as the technology solution is economical, reliable and also flexible to their operational needs."
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 power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, PMFG markets its systems and products worldwide.
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, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The words "anticipate," "expect," "believe," "intend" and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such 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 and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. 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 SEC, including the information under Item 1A. "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended June 28, 2014. The Company undertakes no obligation to revise any forward-looking statements or to update them to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of unanticipated events, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. 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.
CONTACT: For Further Information Contact: Mr. Peter J. Burlage, Chairman, President and Chief Executive Officer Mr. Ronald L. McCrummen, Chief Financial Officer PMFG, Inc. 14651 North Dallas Parkway, Suite 500 Dallas, Texas 75254 Phone: (214) 357-6181 Fax: (214) 351-4172 www.peerlessmfg.com or Mr. Shawn Severson, Managing Director, Energy Technology Practice The Blueshirt Group Phone: (415) 489-2198 firstname.lastname@example.org