PMFG, Inc.has been awarded three new large international orders with a combined value of more than $6.5 million for an assortment of process systems equipment to be used in natural gas and oil exploration applications. The Company anticipates that the majority of the revenue from these three orders will be recognized in the first half of fiscal year 2013.
The first order is for multiple sets of filtration and separation equipment in support of a natural gas pipeline construction project in China. This order will be processed through the Company's subsidiary in China. The second order is for a series of separators used for oil extraction in the oil sands of Western Canada. The third order is for pulsation and separation equipment that will be utilized in conjunction with a reciprocating compressor package. This order is for a facility located in Europe and will be processed through the Company's recently acquired operations in Germany.
PMFG's Chief Executive Officer, Peter Burlage, stated, "These orders represent the growing importance that we have placed on strengthening our global sales and manufacturing capabilities to benefit from the substantial international energy infrastructure development initiatives underway around the world. Our initial focus in China was on capturing the significant opportunities to supply steam separators to the nuclear power industry. We are now winning and actively bidding on a variety of natural gas processing and transmission projects that would require use of our separation equipment and other components. Our presence in Germany has enabled us to more effectively pursue opportunities throughout Central and Eastern Europe. In Canada, the tar sands region continues to experience ever increasing investment in facility development and expansion. With our enhanced presence in Canada we are better able to support our customers while expanding our business opportunities in the region. Our investment of additional resources in these foreign markets has significantly enhanced our success at winning these projects and we are encouraged by the bidding activity we are seeing on other projects in these markets."