PMFG Wins $12.6Mln Contract for System Application on Texas Methanol Plant; Shares Down 1%

By Staff,

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Shares of PMFG Inc. ( PMFG ) are down 1% to $6.10 in afternoon trade. The provider of systems and products designed energy delivery has been awarded a contract with a value of approximately $12.6 million for a selective catalytic reduction system.

The SCR System will be used on a methanol unit at a chemical plant in Texas.

Delivery is scheduled for second half of calendar year 2014 - with revenue will be recognized across fiscal years 2013 thru 2015, with the majority of the revenue in FY2014.

PMFG is trading near the bottom of a 52-week range of $5.45 - $9.42.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: PMFG

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