Fybroc Division Receives Equipment Order Totaling $1.2 Million
Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation, announced today that the Company's Fybroc Division, in Telford, Pennsylvania, has received an order to supply 180 corrosion resistant fiberglass centrifugal pumps to be installed at a new aquarium now under construction in Atlanta, Georgia.
The combination of horizontal and vertical pumps, which range in size from 14 gpm to 2,500 gpm, will be shipped over a period of several months, with all pumps scheduled to be delivered before the end of the Company's coming fiscal year. The value of this order is approximately $1.2 million.
The new "Georgia Aquarium" is being described as "an aquarium of the 23rd century, with no boundaries, the next definition of Aquarium." It will be located on 9 acres next to Centennial Olympic Park in downtown Atlanta, and will become one of the largest aquariums in the United States with 250,000 square feet of space, and a total water volume of more than 5 million gallons, providing a home to valuable sea life species.
The Fybroc pumps will be utilized for seawater circulation and filtration, both of which are critical to proper management of the aquarium's life support system.
Fybroc was selected for this project based on their extensive experience in this field. Fybroc pumps, which are unaffected by sea water, are installed in over 100 aquariums worldwide, including locations in Australia, the Bahamas, China, Europe, Hong Kong, Japan, Korea, Kuwait, Malaysia, Mexico, New Zealand, Taiwan, and the United States.
"This is the largest single order in Fybroc's history," stated De Hont. "The receipt of this order validates Fybroc's position as the leading pump supplier to sea life aquariums around the world."
Met-Pro Corporation, Harleysville, Pennsylvania, manufactures and sells product recovery and pollution control equipment for purification of air and liquids and fluid handling equipment for corrosive, abrasive and high temperature liquids. With ten divisions and five subsidiaries, the company, established in 1966, provides products to residential, commercial, industrial and municipal markets that include, but are not limited to, pharmaceuticals, chemicals, petrochemicals, water and aquariums. Met-Pro stock is traded on the New York Stock Exchange, Symbol MPR.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release, and other materials filed or to be filed with the Securities and Exchange Commission (as well as information included in oral or other written statements made or to be made by the Company) contains statements that are forward-looking. Such statements may relate to plans for future expansion, business development activities, capital spending, financing, the effects of regulation and competition, or anticipated sales or earnings results. Such information involves risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to, the cancellation of purchase orders, product development activities, computer systems implementation, dependence on existing management, the continuation of effective cost and quality control measures, retention of customers, global economic and market conditions, and changes in federal or state laws.
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