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This presentation includes forward-looking statements which reflect the Company’s current views with respect to future events and financial performance, but involve uncertainties that could significantly impact results. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements.
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• Leading niche-oriented global provider of solutions and
products for product recovery, pollution control, and fluid
handling applications
products for product recovery, pollution control, and fluid
handling applications
• Diverse, synergistic product offering
• Strong global brand recognition
• Approximately 40% of sales derived from recurring parts
and consumables sales
and consumables sales
Met-Pro: Protecting our environment while serving
business and industry around the world
business and industry around the world
NYSE: MPR
Company Profile
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Investment Highlights
• Green technology
• Strong balance sheet
– High cash
– Low debt
• Strong cash flows from operating activities
• High margin business
• Outsourcing minimizes growth constraints and reduces
risks during down turns
risks during down turns
• Experienced Management/Independent Board of Directors
• Dividend paid for 34 consecutive years
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Continuous Improvement
• Rolled out lean enterprise program
• Improved manufacturing flexibility
• Efficiency improvements and lower costs
realized through:
realized through:
– Facility/organization consolidations
– Global sourcing
– More effective logistics
• Increased global sales coverage
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Product Recovery/
Pollution Control
Pollution Control
48.3%
Filtration/
Purification
Purification
11.5%
Fluid Handling
29.4%
Mefiag
Filtration
Filtration
10.8%
2009 Sales
$103.4 Million
$103.4 Million
Businesses
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• Expanding
International
Sales/Marketing
Organization to
capitalize on global
opportunities
International
Sales/Marketing
Organization to
capitalize on global
opportunities
FYE 2009
$26.5 Million
25.7%
International
Sales
Sales
74.3%
U.S. Sales
Europe
35.7%
Asia
19.5%
Canada
17.1%
Africa &
Middle East
Middle East
15.5%
Other
12.2%
International
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Customers & Major Markets
• Over 8,000 active customers
- Well-diversified cross-section
of industries including
Fortune 1000 companies
of industries including
Fortune 1000 companies
• Major markets include:
- Pharmaceutical
- Chemical/petrochemical
- Food processing
- Metal finishing
- Saltwater aquariums
- Refinery
- Semiconductor/electronics
- Municipalities
- Universities
- Hospitals/public health
- Government facilities
No One Customer Accounts for More
Than 10% of Met-Pro’s Business
Than 10% of Met-Pro’s Business
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Mefiag Filter System
Flex-Kleen Dust Collector
Fybroc FRP Pumps
Strobic Air Patented
Tri-Stack™ Fan
Tri-Stack™ Fan
Dean
Metallic Pumps
Metallic Pumps
Sethco
Thermoplastic
Pumps
Thermoplastic
Pumps
Keystone
Custom Filter
Cartridges
Cartridges
Duall BIO-PRO™ Bioscrubber
Pristine Water
Treatment
Chemicals
Treatment
Chemicals
Products from Single Units…
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Dean High
Temperature Pumps
Temperature Pumps
Fybroc FRP Pumps
Mefiag Filter Systems
Duall Multi Component
Hot Gas Scrubber System
Hot Gas Scrubber System
Flex-Kleen
Dust Collectors
Dust Collectors
Systems Rotary
Concentrator and
Recuperative
Concentrator and
Recuperative
Thermal Oxidizer
Strobic Air Patented
Tri-Stack™ Fans
Tri-Stack™ Fans
…to Large, Complex Systems
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• Global growth of “green”
manufacturing processes
manufacturing processes
– Reduce costs
– Reduce energy
– Improve manufacturing performance
– Meet increasing regulatory requirements
• Focus on niche markets
– #1 or #2 player
– Limited competition
– International brand recognition
– Further penetrate niches with other
Met-Pro products
Met-Pro products
– Solutions provider
• MRO, upgrade and retro-fit opportunities
from expanding installed base
from expanding installed base
• New markets
– Geographic expansion
– New product introductions
– Acquisitions and/or technology licensing
Growth Drivers
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New Products
• Launched the Smart System™ energy-saving
laboratory exhaust system
laboratory exhaust system
• Field tested an advanced control system to
reduce scrubber chemical consumption
reduce scrubber chemical consumption
• Upgraded our Bio-Pro™ biological scrubber
product line
product line
• Introduced nano-technology filtration products
• Completed development of the world’s most
extensive line of mag-drive “All-FRP” pumps
extensive line of mag-drive “All-FRP” pumps
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Strategy
• Capitalize on global niche-oriented growth
opportunities through:
opportunities through:
– Strong customer focus
– Geographic expansion
– New product introductions
– Accretive acquisitions and/or technology
licensing
licensing
– Leverage existing relationships to maximize
penetration of Met-Pro products
penetration of Met-Pro products
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Margin Improvement Strategy
• Continue to expand margins through:
– Pricing power
– Single source solutions
– Global sourcing
– Volume discounts
– Consolidation
– Leveraged operating expenses
– Improved project execution
– Lean enterprise/continuous improvement
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For FYE 1/31
Net Sales
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• Improved execution, better product mix leading to widening margins
Gross Margins
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For FYE 1/31
13.2%
(a)
(a) Excludes 3.3% from the sale of real estate in FYE 2008.
Operating Margins
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For FYE 1/31
(a)
(a) Excludes $0.15 per share from the sale of real estate in FYE 2008.
Diluted EPS
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For FYE 1/31
$4.4
$3.9
$9.9
$12.1
Met-Pro rewarded shareholders with $11.0 million of share repurchases and dividends in FYE 2009.
Cash Flows from Operating Activities
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(a) Includes pension, healthcare and stock option expenses in the first half ended July 31, 2009 and proceeds
received from a legal settlement in the first half ended July 31, 2008. On an aggregate basis, these various
items amount to $0.05 per share.
received from a legal settlement in the first half ended July 31, 2008. On an aggregate basis, these various
items amount to $0.05 per share.
2008
33.9%
Gross Margins
Net Sales
Millions ($) (Except EPS)
Cash Flows from Operating Activities
2009
34.8%
$40.5
$ 4.2
$10.1
Diluted EPS
$0.30
$0.15
(a)
First Half Ended 7/31
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$1.99
per share
per share
Total Debt
Total Assets
Shareholders’ Equity
Cash
4.8
104.1
80.1
29.2
Millions ($)
7/31/09
$
$
$
$
Debt to Equity
Ratio = 6.0%
Ratio = 6.0%
Strong Financial Condition
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• Third quarter dividend of $0.06 per share paid on September 11, 2009
• A 9.1% increase over the prior year third quarter dividend
• Dividends have been increased for 7 consecutive years
$.178
$.191
$.207
$.230
$.180
Projected
For FYE 1/31
34 Straight Years of Dividends
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Over the long-term, we are confident
that Met-Pro Corporation is well positioned
to capitalize on the very powerful
trends toward global environmental
stewardship, energy efficiency,
and process improvement.
that Met-Pro Corporation is well positioned
to capitalize on the very powerful
trends toward global environmental
stewardship, energy efficiency,
and process improvement.
Summary
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