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Stock Market & Financial Investment News

News Breaks
January 14, 2014
08:35 EDTPMFGPMFG awarded three new orders with combined value of over $8.5M
PMFG announced that it has been awarded three separate contracts with a combined value of over $8.5M. In our Environmental Systems segment, we were awarded two projects. The first project is an SCR/CO exhaust system to be installed in a combined-cycle natural gas fired turbine power plant application. This equipment will reduce both NOX and CO emissions by at least 90% for an electric power generation facility in the northeast region of the United States. The second project is for the installation of emission control systems on power drivers for existing natural gas pipeline in the southeastern region of the United States. In our Process Products segment, we were awarded a project to design and fabricate a steam blow down separator for use on steam assisted gravity drainage oil recovery operations in Canada. The Company expects to recognize revenue related to these projects over the balance of FY14 and the first half of FY15.
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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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