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Hanley Wood, LLC, the leading business-to-business media and information company serving the housing and construction industries, announced today the purchase of PRO AV magazine and www.proavmagazine.com from Ascend Media. The PRO AV properties are information products providing solutions for the professional AV industry and will be part of Hanley Wood's Design Group, along with DIGITAL HOME. PRO AV is the only publication in the industry to focus equally on audio and video products and applications. "This acquisition is exciting for Hanley Wood on three levels," says Peter Goldstone, President, Hanley Wood Business Media. "First, it extends our presence in the commercial segment of the construction industry. Second, it helps fulfill our strategy to service the technology sector and, finally, PRO AV expands our portfolio of subcontractor information products." Published 12 times annually, PRO AV is a BPA-audited magazine read by 20,000 professional AV integrators, contractors, consultants, resellers and their end users. Its editorial coverage focuses on the day-to-day information needs of its readers, including the latest industry trends, technologies and products. Because PRO AV readers design, integrate, install and use AV systems in a wide variety of applications, the editorial frequently covers installations in all vertical market segments. "PRO AV has found a new home with a great owner," says Cameron Bishop, CEO, Ascend Media. "Hanley Wood is a top notch B-to-B media company and PRO AV will have a compelling strategic fit that will allow it to continue growing." PRO AV's editor, Mark Mayfield, will join Hanley Wood and continue editorial direction of the magazine. Mayfield is an industry professional who has worked with manufacturers in the industry including Bose Corporation. Stan Kashine and Sue Horwitz will also join Hanley Wood as regional sales managers. PRO AV will be part of the Design Group at Hanley Wood under group publisher Michael Boyle. About Ascend Media, LLC Ascend Media is a diversified business media organization that owns and operates professional magazines and journals; organizes trade shows, conferences and educational programs; and maintains online properties and databases serving the medical, healthcare and professional services industries. Ascend Media was formed and incorporated in 2002 by partners that include Cameron Bishop and Ron Wall and is financially backed by two of the world's most prestigious private equity firms, CCMP Capital (formerly J.P. Morgan Partners) and Veronis Suhler Stevenson. Ascend Media is headquartered in Overland Park, KS. For additional information: www.ascendmedia.com. About Hanley Wood Hanley Wood, LLC is the premier media and information company serving housing and construction. Through four operating divisions, the company produces award-winning magazines and Web sites, marquee trade shows and events, rich data and custom marketing solutions. The company is also North America's leading publisher of home plans. Hanley Wood Business Media (Washington, D.C.) publishes 30 award-winning residential and commercial construction titles, including BUILDER, DIGITAL HOME, ARCHITECT, CUSTOM HOME, CONCRETE CONSTRUCTION and RESIDENTIAL ARCHITECT. Hanley Wood Business Media also offers the construction industry's foremost collection of Web sites, including BUILDER ONLINE, REMODELING ONLINE, and ebuild, the comprehensive online guide to building products, as well as the largest collection of house plans online through eplans.com and Dream Home Source. Founded in 1976, Hanley Wood is a $250 million company owned by affiliates of JPMorgan Partners, LLC. CCMP Capital Advisors manages the Hanley Wood investment for JPMorgan Partners. |
Strobic Air was awarded these contracts based on their reputation for supplying best-in-class low profile exhaust systems that are specifically designed to handle the complex issues of laboratory exhaust
Raymond J. De Hont, Chairman and Chief Executive Officer of Met-Pro Corporation , announced today that the Company's Strobic Air business unit has received orders, totaling approximately $500,000, from two premier pharmaceutical companies in the United States. These orders are expected to ship in the first quarter of the Company's next fiscal year, which begins on February 1, 2010.
For these projects, Strobic Air will supply a total of fifteen (15) Tri-Stack(TM) fans on custom plenums, which will be used for laboratory fume hood exhaust. Each fan will utilize Strobic Air's patented Acoustical Silencer Nozzle and Acoustical Windband technology.
Strobic Air was awarded these contracts based on their reputation for supplying best-in-class low profile exhaust systems that are specifically designed to handle the complex issues of laboratory exhaust.
"These orders follow more than $1.4 million in orders for air pollution control equipment already announced this week," stated De Hont. "We are pleased with the market's continued interest in our industry-leading technologies and remain optimistic that we can build on our recent success in closing these large projects to achieve similar additional awards in the future."
About Met-Pro
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, was recently recognized as one of "America's Fastest Growing Small Companies" by Fortune Small Business magazine. Through its business units in the United States, Canada, Europe and The People's Republic of China, a wide range of products and services is offered for industrial, commercial, municipal and residential markets worldwide. These include product recovery and pollution control technologies for purification of air and liquids; fluid handling technologies for corrosive, abrasive and high temperature liquids; Mefiag filtration technologies for harsh, corrosive liquid filtration applications; and filtration and purification technologies which include proprietary water treatment chemicals and filter products for air and liquid filtration. For more information, please visit www.met-pro.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release, and other materials filed or to be filed with the Securities and Exchange Commission (as well as information included in oral or other written statements made or to be made by the Company), contain statements that are forward-looking. Such statements may relate to plans for future expansion, business development activities, capital spending, financing, the effects of regulation and competition, or anticipated sales or earnings results. Such information involves risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to, the cancellation or delay of purchase orders and shipments, product development activities, goodwill impairment, computer systems implementation, dependence on existing management, the continuation of effective cost and quality control measures, retention of customers, global economic and market conditions, and changes in federal or state laws.
Met-Pro common shares are traded on the New York Stock Exchange, symbol MPR.
To obtain an Annual Report or additional information on the Company, please call 215-723-6751 and ask for the Investor Relations Department, or visit the Company's website at www.met-pro.com.
Contact: Investor Contact:
Gary J. Morgan, Joseph Hassett, VP
Senior Vice President of Finance, CFO Gregory FCA Communications
215-723-6751 610-228-2110
Met-Pro Corporation
CONTACT: Investors, Gary J. Morgan, Senior Vice President of Finance, CFOof Met-Pro Corporation, +1-215-723-6751; or Joseph Hassett, VP, Gregory FCACommunications, +1-610-228-2110
Web site: http://www.met-pro.com/