September 15, 2008
Powell Industries Reports No Significant Facility Damage From Hurricane Ike
HOUSTON, Sept. 15 /PRNewswire-FirstCall/ -- Powell Industries, Inc. , a leading manufacturer of equipment and systems for the management and control of electrical energy and other critical processes, today announced that it has not experienced significant damage as a result of Hurricane Ike to any of its Houston-based facilities.
Preliminary assessments indicate that only minor damage occurred at the Company's Mosley, Kurland and Jacintoport facilities. However, all facilities and much of the surrounding area are currently without power. Production in these facilities will remain down until electrical power can be restored and personnel can safely return to work. Based upon the extent of any damage in the region, factors beyond the Company's control may also slow efforts to restart production. In addition, the Company's facility in North Canton, Ohio is also without electrical power resulting from high winds from Hurricane Ike.
Powell Industries, Inc., headquartered in Houston, designs, manufactures and packages systems and equipment for the control, distribution and management of electrical energy and other dynamic processes. Powell provides products and services to large industrial customers such as utilities, oil and gas producers, refineries, petrochemical plants, pulp and paper producers, mining operations, commuter railways and other vehicular transportation facilities. For more information, please visit http://www.powellind.com/.
Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.
Contacts: Don R. Madison, CFO Powell Industries, Inc. 713-947-4422 Ken Dennard / [email protected] Karen Roan / [email protected] DRG&E / 713-529-6600
Powell Industries, Inc.
CONTACT: Don R. Madison, CFO of Powell Industries, Inc.,+1-713-947-4422; or Ken Dennard, [email protected], or Karen Roan,[email protected], both of DRG&E, +1-713-529-6600, for Powell Industries, Inc.
Web site: http://www.powellind.com/