DALLAS, July 10, 2014 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq: PMFG ) today announced that Steve LeFavour will become Director, Americas Manufacturing and Supply Chain. Mr. LeFavour joined the Company in August 2011 with over 30 years of experience in heavy manufacturing and nuclear submarine construction and overhaul. Mr. LeFavour has played a critical role in recruiting and aligning the Company's Quality Assurance team, as well as designing and implementing processes to serve the increasing demands of our customers and the markets we pursue. Mr. LeFavour will be responsible for leading and improving the efficiency and effectiveness of the Company's manufacturing and supply chain organization in the Americas region. Mr. LeFavour replaces the former Vice President of Manufacturing and Supply Chain, who has elected to pursue opportunities outside of the Company.
Peter Burlage, President and Chief Executive Officer, commented, "The Company's net bookings in the Americas region have increased over 20 percent in the fiscal year ending June 28, 2014 when compared to the prior year. Ensuring that our manufacturing and supply chain operations are both efficient and effective will be critical as we work through the projects currently in backlog, as well as respond to the complexities that result from higher relative fabrication of environmental systems and nuclear-related projects. Mr. LeFavour's process-focused orientation and experience in leading complex manufacturing operations will be critical in streamlining the manufacturing and supply chain operations and addressing the activities contributing to the manufacturing inefficiencies and project overruns experienced following the consolidation of the Company's U.S. manufacturing operations."
Mr. Burlage continued, "We are also making progress in replacing our recently retired Board member, Sherrill Stone. We have engaged an executive search firm to help our efforts to find a strong, well-qualified, independent director. We have tremendous growth opportunities and operational challenges in front of us and we are dedicated to building the best leadership team possible to move the Company forward in a way that maximizes benefits for our stockholders, employees and customers."
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.
Safe Harbor Under The Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release that are not historical facts are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The words "anticipate," "expect," "believe," "intend" and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Other important information regarding factors that may affect the Company's future performance is included in the public reports that the Company files with the SEC, including the information under Item 1A. "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended June 29, 2013. The Company undertakes no obligation to revise any forward-looking statements or to update them to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of unanticipated events, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.
For Further Information Contact: Mr. Peter J. Burlage, Chairman and Chief Executive Officer Mr. Ronald L. McCrummen, Chief Financial Officer PMFG, Inc. 14651 North Dallas Parkway, Suite 500 Dallas, Texas 75254 Phone: (214) 357-6181 Fax: (214) 351-4172 www.peerlessmfg.com or Mr. Shawn Severson, Managing Director, Energy Technology Practice The Blueshirt Group Phone: (415) 489-2198
