SPRINGFIELD, Mo., Nov. 21, 2012 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC:MUEL) announced today an interim decision concerning the employment agreement between the Company and former CEO Matthew T. Detelich. The decision, filed yesterday with the American Arbitration Association, upheld the contract described in previous disclosures. The decision does not result in a material change to the Company's financial position. A final decision is expected around the end of the year.
Paul Mueller Company is a manufacturer of high quality stainless steel equipment used in over 100 countries worldwide on dairy farms and in wide varieties of industrial applications, including food, dairy, and beverage processing; pharmaceutical, biotechnological, and chemical processing; water distillation; heat transfer; heat recovery; HVAC; and process cooling.
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including, but not limited to, the factors described on page 32 of the Company's 2011 Annual Report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.
CONTACT: Marcelino Rodriguez Chief Financial Officer & Secretary (417) 575-9000Source:Paul Mueller Company