Flanders Corp. Secures Two Additional Purchase Agreements for $7.5 Million From Shaw AREVA MOX Services, LLC
September 23 2009 - 6:05AM
Marketwired
Flanders Corporation (NASDAQ: FLDR)
-- Awards for 18 glove boxes brings total to 40 since facility inception
-- Repeat orders for glove boxes validates Flanders quality
Flanders Corporation (NASDAQ: FLDR) won two more purchase
agreements from Shaw AREVA MOX Services, LLC related to the mixed
oxide (MOX) fuel project at the Savannah River Site (SRS) near
Aiken, South Carolina:
-- 12 Glove boxes and associated equipment for the Pellet Grinding Units
project for $5.2 million; and
-- 6 Glove boxes and associated equipment for the Decanning Units project
for $2.3 million.
These awards bring the total number of glove boxes ordered to
40. The projects are to begin the fourth quarter of 2009 with
delivery of glove boxes beginning in first half 2010 through 2011.
Like the prior agreements, Flanders will receive payment in
progression with work completed.
"In 2009, Flanders began manufacturing extremely complex,
nuclear processing equipment to Shaw AREVA," said Gary Chrismon,
Director of Glove Box Sales. "We believe our diligent efforts have
secured these awards for the Pellet Grinding Units project and
Decanning Units project. Flanders is proud to be a leading supplier
to Shaw Areva MOX Services."
"Our commitment to quality, project management, design
innovation and maximizing customer value establish us as a key
partner with Shaw AREVA," said Tom Morse, VP of High Purity
Operations. "We believe these awards are a testament to the
strength of our team."
Flanders has a robust and mature Nuclear Quality Assurance
program that meets the requirements of ASME NQA-1. Our Quality
Assurance program is designed to ensure the delivery of the highest
quality products that exceed all regulatory and safety requirements
to our customers. This program is routinely audited for compliance
by our customers within the Nuclear Industry.
About the MOX Project
In 1999, the National Nuclear Security Administration (NNSA)
signed a contract with a consortium, now called Shaw AREVA MOX
Services, LLC to design, build, and operate a Mixed Oxide (MOX)
Fuel Fabrication Facility. This facility will be a major component
in the United States' program to dispose of surplus weapon-grade
plutonium. The 600,000 square foot facility will take surplus
weapon-grade plutonium, remove impurities, and mix it with uranium
oxide to form MOX fuel pellets for reactor fuel assemblies. For
more information visit http://www.moxproject.com/
About Flanders
Flanders is a leading air filtration products manufacturer.
Flanders' products are utilized by many industries, including those
associated with commercial and residential heating, ventilation and
air conditioning systems, semiconductor manufacturing, ultra-pure
materials, biotechnology, pharmaceuticals, synthetics, nuclear
power and nuclear materials processing.
For further information on Flanders and its products, visit its
web site at http://www.flanderscorp.com/ or contact Kirsten Chapman
or Tim Dien at (415) 433-3777.
Safe Harbor Statement
The statements made in this press release regarding Flanders
executing its strategy and achieving its goals of improved
productivity and EBITDA growth are based on the current
expectations and beliefs of the management of Flanders and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. For a more detailed discussion of risk
factors that may affect Flanders' operations, please refer to the
Company's Form 10-K for the year ended December 31, 2008, Form 10-Q
for the periods ended September 30, 2008, March 31, 2009 and June
30, 2009. These forward-looking statements speak only as of the
date on which such statements are made, and the Company undertakes
no obligation to update such forward-looking statements, except as
required by law.
Company Contacts: Gary Chrismon, Director Glove Box Sales John
Oakley, CFO Flanders Corporation (252) 946-8081 Investor Relations
Contacts: Lippert / Heilshorn & Associates Kirsten Chapman/ Tim
Dien Email Contact (415) 433-3777
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