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Stock Market & Financial Investment News

News Breaks
March 18, 2014
16:32 EDTPMFGPMFG to acquire assets of Combustion Components Associates for $8.9M
PMFG announced it has reached a definitive agreement to acquire substantially all of the assets of Combustion Components Associates, a leading provider of in-furnace and post-combustion control technologies. The acquisition is subject to customary closing conditions and is expected to close by April 30. The purchase price is approximately $8.9M in cash plus performance-based contingent payments and will be funded with cash on hand.
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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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