Mr. De Hont: In September 1966 Walter Everett acquired Met-Pro, then a one-building metal fabrication shop. He began converting Met-Pro into an environmental company when he obtained contracts to build water purification units for the U.S. army. Recognizing that he did not want to be totally dependent on government business, Mr. Everett took the company public and obtained funds to begin to acquire companies that would allow the company to diversify into commercial business. Met-Pro Corporation, incorporated in the State of Delaware on March 30, 1966, is now a leading niche-oriented manufacturer of product recovery/pollution control equipment for purification of air and liquids, and fluid handling equipment for corrosive and high temperature liquids. Met-Pro's common stock, trading under the symbol 'MPR,' traded on the American Stock Exchange from July 25, 1978 until June 18, 1998, at which time it began trading on the New York Stock Exchange. On July 31, 2003 Met-Pro re-incorporated in the State of Pennsylvania. The product- recovery/pollution-control equipment segment is composed of: Systems Division, which was the original Met-Pro, Stiles-Kem/Pristine Hydrochemical Division, Sethco Division, Duall Division, Strobic Air Corporation and Flex-Kleen Division. Our fluid-handling segment is composed of: Keystone Filter Division, Fybroc Division, Dean Pump Division and the Mefiag Operations.
TWST: Could you comment on the outlook for your industry?
Mr. De Hont: I believe the outlook for some of the industries we are in
is good. The last couple of years have been difficult for many companies
both domestically and internationally. however, we are seeing signs in
some of our divisions that the outlook for some of the industries we are
in is improving, which makes us cautiously optimistic with regard to the
future. Prior to the downturn in the economy, we had looked at what was
happening in the numerous markets we serve and made a decision to make
some cuts in our organization to prepare for a downturn. By doing so, we
reduced the negative impact of the downturn in the economy on our
company and are now well positioned to benefit as the economy improves.
Tickers included in this excerpt: MPR
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