DALLAS, April 19, 2012 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that it was awarded an order in excess of $4.0 million to provide large-scale separation equipment for a new liquefied natural gas ("LNG") terminal project in Australia. The project will be scheduled on its fourth quarter bookings and backlog, however due to the complexity of the order the revenue will be recognized in various quarters throughout fiscal year 2013 and 2014.
PMFG's Chief Executive Officer, Peter Burlage, stated, "We are pleased to add another significant LNG project in Australia and we look forward to delivering this equipment to the rapidly growing liquefied natural gas industry. This award further demonstrates PMFG's position in Australia where the company has performed on other projects in the natural gas sector and in the LNG liquefaction processes and where significant project growth opportunities are expected in the future. This order represents the third LNG field in and near Australia that we have provided equipment in recent years. This project underscores our strength in successfully managing projects on a global scale together with our regional experience and leadership talent in LNG projects. We plan to utilize our regional and domestic manufacturing facilities in addition to regional subcontractors and suppliers for various facets of the project."
About PMFG
We are a leading provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. We primarily serve the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, we market our systems and products worldwide.
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