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Stock Market & Financial Investment News

News Breaks
January 8, 2013
08:12 EDTPMFGPMFG, Inc. awarded separation equipment orders valued over $5M
PMFG, Inc. announced it was awarded two separation equipment orders with an aggregate value in excess of $5M. The first order is for steam separators to be installed at a nuclear power plant in the U.S., with delivery expected in late calendar 2013. These units will be manufactured at PMFG's plant in Denton, Texas. These steam separators are replacement units for a BWR reactor as part of the plant's relicensing process. Only the portion of this award that has been released by the customer will be included in our backlog at the end of December. The second order is for production separators for a South American natural gas project, with delivery expected in late summer of calendar 2013. The company will fabricate the equipment in the U.S.
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July 28, 2014
07:40 EDTPMFGPMFG, Inc. awarded $4.5M SCR systems order
PMFG, Inc. announced that it has been awarded a contract for multiple SCR systems to be installed on new fired heaters that are part of an olefins plant in Texas. The value of the award exceeds $4.5M. The project is scheduled for completion by late summer 2015. The two key olefins that are commonly produced are ethylene and propylene, which form the backbone of the petrochemicals market. Propylene, in particular, serves as the base for a number of products including plastics, automotive parts and synthetic fibers for clothing. Rising production of propane from U.S. shale formations are having a positive impact on the supply of propylene.

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