SOURCE: Flanders Corp.

Flanders Corp.

September 23, 2009 07:05 ET

Flanders Corp. Secures Two Additional Purchase Agreements for $7.5 Million From Shaw AREVA MOX Services, LLC

WASHINGTON, NC--(Marketwire - September 23, 2009) - 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.

Contact Information

  • 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