STATESVILLE, NC, March 7, 2023 /PRNewswire/ — Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized global leader in the design, manufacture and installation of laboratory, healthcare and technical furniture products, today announces that the company’s Indian subsidiary has been awarded a contract to in laboratories furniture and technical products, delivered turnkey for Indian Oil Corporation Limited’s (“IOCL”) new greenfield research and development facility located in Faridabad, India. The project was awarded by the project’s general contractor, Shapoorji Pallonji Ltd.
IOCL has committed to build a new world-class research and development center at Faridabad in Haryana. IOCL is focusing on converting its refineries into integrated complexes where differentiated petrochemicals can be produced along with the development of alternative fuels. This new facility will conduct research in areas such as alternative and renewable energies and nanotechnology, among other areas of interest.
Kewaunee will release the company’s fiscal third quarter earnings after the market closes on March 8, 2023. This prize will be included in the order book number submitted to the March 8 Publication of third quarter results.
“We are very excited to be associated with this project, which enables our team to deliver another state-of-the-art facility with the latest laboratory furniture and technical products to one of the India’s leading Maharatna companies,” said Mr. B. Sathyamurthy, Managing Director and Vice President, International Operations, Kewaunee Scientific Corporation. “This order reaffirms Kewaunee India’s execution prowess across the infrastructure value chain of the laboratory and the leading position as a single solutions provider. .”
“Kewaunee’s international team continues to perform at a high level, working with clients to design and build world-class laboratory spaces such as India’s the economic engine continues to move forward,” he said Thomas D. Hull III, president and CEO of Kewaunee Scientific Corporation. “India’s The economy continues to be strong with significant investments being made in the public and private sectors by organizations that require the products and services that Kewaunee offers.”
About Kewaunee Scientific
Founded in 1906, Kewaunee Scientific Corporation is a recognized world leader in the design, manufacture and installation of laboratory, healthcare and technical furniture products. The company’s products include steel, wood and laminate housing, fume hoods, adaptable modular systems, mobile workstations, stand-alone benches, biological safety cabinets and epoxy resin work surfaces and sinks.
The company’s corporate headquarters are located in Statesville, North Carolina. Sales offices are located in the united states, India, Saudi Arabiai singapore. There are three manufacturing facilities Statesville which serves domestic and international markets and has a manufacturing facility Bangalore, India serving the local, Asian and African markets. The Kewaunee Scientific website is located at https://www.kewaunee.com.
This press release contains statements that the Company believes are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements about the company’s future. Financial condition, results of operations, business operations and business prospects are forward-looking statements. Words such as “anticipate”, “estimate”, “expect”, “project”, “attempt”, “plan”, “predict”, “believe” and similar words, expressions and variations of such words and expressions have as purpose to identify forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that could materially affect the results or achievements expressed or implied by these forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: general economic and competitive conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; reliance on delivery schedules required by customers; risks related to fluctuations in the company’s operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in the costs of raw materials and commodities; acts of terrorism, war, governmental actions and natural disasters and other force majeure events. The cautionary statements made under the Reform Act here and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance or achievements are likely to differ from the anticipated results, performance or achievements expressed or implied in our forward-looking statements, and such difference could be material and harmful to the interests of our stockholders. Many important factors that could cause this difference are described under the heading “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the fiscal year just ended. April 30, 2022, which you should review carefully, and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date hereof. The Company undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Donald T. Gardner III 704/871-3274
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SOURCE Kewaunee Scientific Corporation
