DALLAS, Feb. 19, 2014 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced that its subsidiary company Peerless Europe Ltd. has been awarded two contracts from an Italian EPC contractor for equipment to be installed in the Ourhoud field in Algeria. The equipment consists of a production separator for the separation of oil, water and gas, as well as our Skimovex water processing equipment. The project orders have a combined value of over $7.0 million. The products will be installed in an oil refining facility within the next year.
Peter J. Burlage, PMFG's Chairman and Chief Executive Officer said, "This project is a great example of the opportunity we have in the upstream segment for conventional wells. The extraction of oil and natural gas produces a significant quantity of associated water that needs to be managed and processed. This creates yet another opportunity for our traditional separation equipment, which is then further processed using our Skimovex product to reduce contaminates in the water stream. We expect the demand for our technology in water processing and cleaning by the energy sector will continue to grow as key markets such as the Middle East, Northern Africa and Asia further develop oil and gas assets with a greater focus on produced water management."
About PMFG
PMFG is a leading provider of custom-engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. PMFG primarily serves the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, PMFG markets its systems and products worldwide.
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