SOURCE: Flanders Corp.

Flanders Corp.

June 03, 2009 07:00 ET

Flanders Corp. Awarded Second Purchase Agreement With Shaw AREVA MOX Services, LLC

WASHINGTON, NC--(Marketwire - June 3, 2009) - Flanders Corporation (NASDAQ: FLDR) was awarded its second purchase agreement from Shaw AREVA MOX Services, LLC related to the MOX project at the Savannah River Site (SRS) near Aiken, SC. Flanders is expected to ship 24 glove box assemblies during 2010 and 2011 for approximately $3.5 million.

"Through our continued diligence, we continue to demonstrate our ability to add value to the Shaw AREVA MOX project," said Gary Chrismon, Director of Isolator and Glove Box Sales. "We won our first order for eight glove boxes, as announced in February, and through our successful milestones we secured this follow-on order. We are excited to continue our partnership with Shaw AREVA."

"Our strong engineering and ASME NQA-1 nuclear compliant quality program operational capabilities are an excellent fit for weapon-grade plutonium repurposing," stated Tom Morse, Vice President of High Purity Operations. "Our highly skilled team creates customized solutions for a variety of extremely specific containment and filtration applications related to toxic substances and processes. We are pleased to be able to continue to service 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, please visit 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 (i) shipping 24 glove box assemblies during 2010 and 2011 for approximately $3.5 million, (ii) continuing to demonstrate its ability to add value to the Shaw AREVA MOX project, (iii) continuing its partnership with Shaw AREVA, (iv) strong engineering and ASME NQA-1 nuclear compliant quality program operational capabilities being an excellent fit for weapon-grade plutonium repurposing and (v) highly skilled team creating customized solutions for a variety of extremely specific and filtration needs for toxic substances and processes, 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, and Form 10-Q for the period ended March 31, 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.

Contact Information

  • Company Contact:
    John Oakley
    CFO
    Flanders Corporation
    (252) 946-8081

    Investor Relations Contacts:
    Lippert / Heilshorn & Associates
    Kirsten Chapman / Tim Dien
    Email Contact
    (415) 433-3777