Mueller Announces Temporary Layoff
SPRINGFIELD, Mo., May 6, 2008 (PRIME NEWSWIRE) -- Over the last three years, Paul Mueller Company (Pink Sheets:MUEL) has experienced annual sales growth in excess of 113%, growing from $113 million for 2004 to $241 million for 2007. As a result, the Company added over 500 employees to its Springfield operation while operating on a 24-hours-a-day/7-days-a-week work schedule. Due to the recent timing of order entry, the Company will undergo a temporary layoff of 134 employees. The Company expects to recall most, if not all, of the employees by the end of the third quarter.
Mueller is one of the leading manufacturers of processing systems and has invested extensively in equipment and personnel to expand its product and service capability, with a focus on providing its customers with a complete project solution. The Company has about 1,100,000 square feet of manufacturing space with more than 1,300 employees. The Company has qualified and experienced employees in product development, engineering, and manufacturing, and it produces stainless steel systems designed to meet the highest quality standards for a wide variety of industrial applications, including food, dairy, and beverage processing; pharmaceutical, biotechnological, and chemical processing; heat transfer and heat recovery; HVAC; and thermal energy storage and cooling applications on dairy farms worldwide.
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance, growth, conditions or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including but not limited to the factors described on page 28 of the Company's 2007 Annual Report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.
Mueller is one of the leading manufacturers of processing systems and has invested extensively in equipment and personnel to expand its product and service capability, with a focus on providing its customers with a complete project solution. The Company has about 1,100,000 square feet of manufacturing space with more than 1,300 employees. The Company has qualified and experienced employees in product development, engineering, and manufacturing, and it produces stainless steel systems designed to meet the highest quality standards for a wide variety of industrial applications, including food, dairy, and beverage processing; pharmaceutical, biotechnological, and chemical processing; heat transfer and heat recovery; HVAC; and thermal energy storage and cooling applications on dairy farms worldwide.
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance, growth, conditions or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including but not limited to the factors described on page 28 of the Company's 2007 Annual Report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.
Labels: layoffs, Missouri, Paul Mueller Company
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