================================================================================

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                                       or

              [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


For the quarter ended: October 31, 2000        Commission file number: 001-07763



                               MET-PRO CORPORATION
             (Exact name of registrant as specified in its charter)


                Delaware                                 23-1683282
   (State or other jurisdiction of                    (I.R.S. Employer
    incorporation or organization)                     Identification No.)


    160 Cassell Road, P.O. Box 144
      Harleysville, Pennsylvania                           19438
(Address of principal executive offices)                (Zip Code)


       Registrant's telephone number, including area code: (215) 723-6751



         Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during the  preceding  12 months and (2) has been  subject to such  filing
requirements for the past 90 days. Yes X  No    .
                                      ---    ---

     The number of shares  outstanding  of the  Registrant's  common  stock (par
value $.10 per share) is 6,085,985 (as of October 31, 2000).

================================================================================
<PAGE>


                              MET-PRO CORPORATION

                                      INDEX

PART I - FINANCIAL INFORMATION
<TABLE>
<CAPTION>

  Item 1.       Financial Statements
<S>                                                                                                           <C>
         Condensed consolidated balance sheet as of
                 October 31, 2000 and January 31, 2000.......................................................  2
         Condensed consolidated statement of operations for the nine-month and three-month
                 periods ended October 31, 2000 and 1999.....................................................  3
         Condensed consolidated statement of stockholders' equity for the
                 nine-month periods ended October 31, 2000 and 1999..........................................  4
         Condensed consolidated statement of cash flows for the nine-month
                 periods ended October 31, 2000 and 1999.....................................................  5
         Notes to condensed consolidated financial statements................................................  6
         Report of independent accountants...................................................................  8

  Item 2.       Management's discussion and analysis of the financial condition
                and results of operations....................................................................  9


PART II - OTHER INFORMATION

  Item 1.       Legal Proceedings............................................................................ 13

  Item 2.       Changes in Securities and Use of Proceeds.................................................... 13

  Item 3.       Defaults Upon Senior Securities.............................................................. 13

  Item 4.       Submissions of Matters to a Vote of Security Holders......................................... 13

  Item 5.       Other Information............................................................................ 13

  Item 6.       Exhibits and Reports on Form 8-K

                (a) Exhibits Required by Item 601 of Regulation S-K.......................................... 13
                (b) Reports on Form 8-K...................................................................... 13


SIGNATURES................................................................................................... 14
</TABLE>


                                      -1-

<PAGE>
                              MET-PRO CORPORATION

                      CONDENSED CONSOLIDATED BALANCE SHEET

                                   (unaudited)

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements
<TABLE>
<CAPTION>

                                                                             October 31,              January 31,
ASSETS                                                                          2000                      2000
----------------------------------------------------------------------------------------------------------------------
<S>                                                                          <C>                      <C>
Current assets
     Cash and cash equivalents                                                $ 7,900,581              $ 6,331,556
     Accounts receivable, net of allowance for doubtful
         accounts of approximately $258,000 and
         $225,000, respectively                                                13,275,831               13,733,256
      Inventories - Note 3                                                     13,782,676               13,744,142
      Prepaid expenses, deposits and other current assets                         947,511                1,135,443
      Deferred income taxes                                                       778,574                  778,574
----------------------------------------------------------------------------------------------------------------------
                Total current assets                                           36,685,173               35,722,971

Property, plant and equipment, net                                             13,125,572               13,473,299
Costs in excess of net assets of businesses acquired, net                      18,400,398               18,772,176
Other assets                                                                      490,092                  673,537
----------------------------------------------------------------------------------------------------------------------
                Total assets                                                  $68,701,235              $68,641,983
======================================================================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY
----------------------------------------------------------------------------------------------------------------------
Current liabilities
      Current portion of long-term debt                                       $ 2,016,085              $ 2,008,940
      Accounts payable                                                          4,638,066                4,989,810
      Accrued salaries, wages and expenses                                      6,575,834                5,108,552
      Payroll and other taxes payable                                              24,097                  182,545
      Dividend payable                                                            486,879                  511,299
      Customers' advances                                                         403,651                  880,432
----------------------------------------------------------------------------------------------------------------------
                Total current liabilities                                      14,144,612               13,681,578

Long-term debt                                                                  8,420,035                9,933,014
Other non-current liabilities                                                     478,479                  415,731
Deferred income taxes                                                             383,855                  405,327
----------------------------------------------------------------------------------------------------------------------
                Total liabilities                                              23,426,981               24,435,650
----------------------------------------------------------------------------------------------------------------------


Stockholders' equity

     Common stock, $.10 par value; 18,000,000 shares
         authorized,  7,202,349 and 7,189,194  shares issued,
         of which  1,116,364 and 797,952 shares were reacquired
         and held in treasury at the respective dates                             720,235                  718,919
      Additional paid-in capital                                                8,096,198                7,973,873
      Retained earnings                                                        50,325,530               46,087,476
      Accumulated other comprehensive loss                                       (679,640)                (403,993)
      Treasury stock, at cost                                                 (13,188,069)             (10,169,942)
----------------------------------------------------------------------------------------------------------------------
                Total stockholders' equity                                     45,274,254               44,206,333
----------------------------------------------------------------------------------------------------------------------
                Total liabilities and stockholders' equity                    $68,701,235              $68,641,983
======================================================================================================================
</TABLE>

See accompanying notes to condensed consolidated financial statements.

                                      -2-
<PAGE>
                              MET-PRO CORPORATION

                 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

                                   (unaudited)

<TABLE>
<CAPTION>

                                                    Nine Months Ended                                Three Months Ended
                                                        October 31,                                       October 31,

                                              2000                    1999                       2000               1999
------------------------------------------------------------------------------------------------------------------------------
<S>                                      <C>                     <C>                        <C>                 <C>
Net sales                                $61,767,172             $59,212,504                $21,258,013         $17,846,269
Cost of goods sold                        40,654,436              38,810,490                 14,065,415          11,523,791
------------------------------------------------------------------------------------------------------------------------------
Gross profit                              21,112,736              20,402,014                  7,192,598           6,322,478
------------------------------------------------------------------------------------------------------------------------------

Operating expenses

   Selling                                 5,469,811               5,558,747                  1,780,777           1,809,594
   General and administrative              6,449,342               6,083,595                  2,154,300           1,957,573
------------------------------------------------------------------------------------------------------------------------------
                                          11,919,153              11,642,342                  3,935,077           3,767,167
------------------------------------------------------------------------------------------------------------------------------

Income from operations                     9,193,583               8,759,672                  3,257,521           2,555,311
Interest expense                            (534,376)               (634,577)                  (173,695)           (205,568)
Other income, net                            369,224                 386,456                    143,340             115,070
------------------------------------------------------------------------------------------------------------------------------
Income before taxes                        9,028,431               8,511,551                  3,227,166           2,464,813

Provision for taxes                        3,327,649               3,060,910                  1,210,187             763,150
------------------------------------------------------------------------------------------------------------------------------
Net income                               $ 5,700,782             $ 5,450,641                $ 2,016,979         $ 1,701,663
==============================================================================================================================

Earnings per share, basic (1)            $       .92             $       .83                $       .33         $       .26

Earnings per share, diluted(2)           $       .92             $       .82                $       .33         $       .26

Cash dividend per share - declared (3)   $       .24             $       .48                $       .08         $       .08

Cash dividend per share - paid (3)       $       .24             $       .40                $       .08         $       .08
------------------------------------------------------------------------------------------------------------------------------
</TABLE>


          (1)  Basic  earnings  per share are based  upon the  weighted  average
               number of shares  outstanding  of 6,173,505  and 6,592,232 in the
               nine-month periods ended October 31, 2000 and 1999, respectively,
               and  6,185,487  and  6,619,678 in the  three-month  periods ended
               October 31, 2000 and 1999, respectively.

          (2)   Diluted  earnings  per share are based on the  weighted  average
                number of shares  outstanding  of 6,189,773 and 6,631,383 in the
                nine-month   periods   ended   October   31,   2000  and   1999,
                respectively,  and 6,200,884  and  6,660,094 in the  three-month
                periods ended October 31, 2000 and 1999, respectively.

          (3)   Effective  during  the second  quarter of the fiscal  year ended
                January 31, 2000, the Company  altered its historic  practice of
                paying  annual  dividends to the  expected  payment of quarterly
                dividends.  The Board of Directors declared quarterly  dividends
                of $.08 per share  payable  on March  10,  2000,  June 9,  2000,
                September  11,  2000 and  December  8, 2000 to  stockholders  of
                record as of February  25, 2000,  May 26, 2000,  August 28, 2000
                and November 24, 2000,  respectively.  On February 22, 1999, the
                Company  declared a $.32 per share annual cash dividend  payable
                on April 23,  1999 to  stockholders  of record on April 9, 1999.
                The  Company  declared  quarterly  dividends  of $.08 per  share
                payable  on  September   10,  1999  and  December  10,  1999  to
                shareholders  of record as of August 20, 1999 and  November  26,
                1999, respectively.

See accompanying notes to condensed consolidated financial statements.

                                      -3-
<PAGE>
                              MET-PRO CORPORATION

           CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY

                                   (unaudited)

<TABLE>
<CAPTION>
                                                                              Accumulated
                                                  Additional                     Other
                                       Common      Paid-in     Retained      Comprehensive       Treasury
                                        Stock      Capital     Earnings          (Loss)            Stock           Total
------------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>         <C>          <C>              <C>              <C>             <C>
Balances, January 31, 2000             $718,919  $7,973,873   $46,087,476      ($403,993)       ($10,169,942)   $44,206,333

Comprehensive income:
   Net income                                                   5,700,782
   Foreign currency translation                                                 (275,647)

       Total comprehensive income                                                                                 5,425,135

Dividends paid, $.16 per share                                   (975,849)                                         (975,849)
Dividends declared, $.08 per share                               (486,879)                                         (486,879)

Proceeds from issuance of
   common stock under dividend
   reinvestment plan (13,155              1,316     122,325                                                         123,641
   shares)

Purchase of 318,412 shares of
    treasury stock                                                                                (3,018,127)    (3,018,127)
------------------------------------------------------------------------------------------------------------------------------
Balances, October 31, 2000             $720,235  $8,096,198   $50,325,530      ($679,640)       ($13,188,069)   $45,274,254
==============================================================================================================================


                                                                              Accumulated
                                                  Additional                     Other
                                       Common      Paid-in     Retained      Comprehensive       Treasury
                                        Stock      Capital     Earnings          (Loss)            Stock           Total
------------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>         <C>          <C>              <C>              <C>             <C>
Balances, January 31, 1999             $713,862  $7,508,748   $42,718,355       ($85,103)        ($4,930,755)   $45,925,107

Comprehensive income:
   Net income                                                   5,450,641
   Foreign currency translation                                                 (150,837)

       Total comprehensive income                                                                                 5,299,804

Dividends paid, $.40 per share                                 (2,680,881)                                       (2,680,881)
Dividend declared, $.08 per share                                (511,340)                                         (511,340)

Proceeds from issuance of
   common stock under dividend
   reinvestment plan (46,882
   shares)                                4,688     456,465                                                         461,153

Stock option transactions                           (27,180)                                          42,180         15,000

Purchase of 453,025 shares of
   treasury stock                                                                                 (5,239,409)    (5,239,409)
------------------------------------------------------------------------------------------------------------------------------
Balances, October 31, 1999             $718,550  $7,938,033   $44,976,775      ($235,940)      ($10,127,984)   $43,269,434
==============================================================================================================================
</TABLE>

See accompanying notes to condensed consolidated financial statements.

                                      -4-
<PAGE>
                              MET-PRO CORPORATION

                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

                                   (unaudited)
<TABLE>
<CAPTION>

                                                                                        Nine Months Ended
                                                                                            October 31,
                                                                                      2000              1999
-----------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>                   <C>

                INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

Net cash provided by operating activities                                        $8,281,541           $7,715,350
-----------------------------------------------------------------------------------------------------------------

Cash flows from investing activities
   Proceeds from sale of property and equipment                                       2,000               12,048
   Acquisitions of property and equipment                                          (784,322)            (888,414)
   Acquisitions of other intangibles                                                     --               (7,281)
-----------------------------------------------------------------------------------------------------------------
     Net cash (used in) investing activities                                       (782,322)            (883,647)
-----------------------------------------------------------------------------------------------------------------

Cash flows from financing activities
   Reduction of debt                                                             (1,505,834)          (1,624,270)
   Exercise of stock options                                                             --               15,000
   Payment of dividends                                                          (1,363,507)          (2,219,728)
   Purchase of treasury shares                                                   (3,018,127)          (5,239,408)
-----------------------------------------------------------------------------------------------------------------
     Net cash (used in) financing activities                                     (5,887,468)          (9,068,406)
-----------------------------------------------------------------------------------------------------------------

Effect of exchange rate changes on cash                                             (42,726)             (19,625)
-----------------------------------------------------------------------------------------------------------------

Net increase (decrease) in cash and cash equivalents                              1,569,025           (2,256,328)

Cash and cash equivalents at February 1                                           6,331,556            7,446,369
-----------------------------------------------------------------------------------------------------------------
Cash and cash equivalents at October 31                                          $7,900,581           $5,190,041
=================================================================================================================


                                            SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid during the period for:

     Interest                                                                    $  620,652          $  631,011
     Income taxes                                                                $2,595,536          $2,739,675
================================================================================================================
</TABLE>

See accompanying notes to condensed consolidated financial statements.


                                      -5-
<PAGE>

                              MET-PRO CORPORATION

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1 - PRINCIPLES OF CONSOLIDATION

The condensed  consolidated financial statements include the accounts of Met-Pro
Corporation  and  its   wholly-owned   subsidiaries   Strobic  Air  Corporation,
Flex-Kleen  Canada  Inc.,  and  Mefiag  B.V.  (collectively   "Met-Pro"  or  the
"Company").  All significant  intercompany  accounts and transactions  have been
eliminated in consolidation.


NOTE 2 - BASIS OF PRESENTATION

In the opinion of management,  the accompanying  unaudited  condensed  financial
statements  contain all  adjustments  necessary to present  fairly the financial
position as of October 31, 2000 and the results of operations for the nine-month
and  three-month  periods  ended  October  31,  2000 and 1999,  and  changes  in
stockholders'  equity and cash flows for the nine-month  periods then ended. The
results of operations for the nine-month and  three-month  periods ended October
31, 2000 and 1999 are not  necessarily  indicative of the results to be expected
for the full year. These condensed  consolidated  financial statements should be
read in conjunction with the audited consolidated financial statements and notes
thereto contained in the Company's Annual Report on Form 10-K for the year ended
January 31, 2000.


NOTE 3 - INVENTORIES

Inventories consisted of the following:

                                                    October 31,      January 31,
                                                       2000             2000
                                                   --------------  -------------

Raw materials                                         $6,775,563     $6,755,944
Work in progress                                       2,021,919      2,016,612
Finished goods                                         4,985,194      4,971,586
                                                   --------------  -------------
                                                     $13,782,676    $13,744,142
                                                   ==============  =============




NOTE 4 - RECLASSIFICATIONS

Certain  reclassifications  have been made to the financial  statements  for the
nine-month  and  three-month  periods  ended  October 31, 1999 to conform to the
presentation  of the financial  statements for the  nine-month  and  three-month
periods ended October 31, 2000.

                                      -6-
<PAGE>
                              MET-PRO CORPORATION

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


NOTE 5 - BUSINESS SEGMENT DATA

The Company's  operations are conducted in two business segments as follows: the
manufacture and sale of product  recovery/pollution  control equipment,  and the
manufacture and sale of fluid handling equipment.

No  significant  intercompany  revenue is realized by either  business  segment.
Interest  income and expense are not  included in the measure of segment  profit
reviewed by  management.  Income  taxes are also not  included in the measure of
segment operating profit reviewed by management.

Financial information by business segment is shown below.
<TABLE>
<CAPTION>

                                                                          Nine Months Ended October 31,
                                                                          2000                     1999
                                                             -----------------------------------------------
<S>                                                                   <C>                       <C>
  Net sales
     Product Recovery/Pollution Control Equipment                     $39,616,215               $39,346,224
     Fluid Handling Equipment                                          22,150,957                19,866,280
                                                                      ------------              ------------
                                                                      $61,767,172               $59,212,504
                                                                      ============              ============


  Income from operations
     Product Recovery/Pollution Control Equipment                     $ 5,325,510               $ 5,931,528
     Fluid Handling Equipment                                           3,868,073                 2,828,144
                                                                      ------------              ------------
                                                                      $ 9,193,583               $ 8,759,672
                                                                      ============              ============


                                                                                    October 31,
                                                                          2000                     1999
                                                             -----------------------------------------------

  Identifiable assets
     Product Recovery/Pollution Control Equipment                     $41,216,727               $42,049,189
     Fluid Handling Equipment                                          18,103,217                18,969,915
                                                                     -------------              ------------
                                                                       59,319,944                61,019,104
     Corporate                                                          9,381,291                 6,469,469
                                                                     -------------              ------------
                                                                      $68,701,235               $67,488,573
                                                                     =============              ============
</TABLE>



NOTE 6 - ACCOUNTANTS' 10-Q REVIEW

Margolis & Company P.C., the Company's independent accountants,  has performed a
limited review of the financial  information  included  herein.  Their report on
such review accompanies this filing.


                                      -7-
<PAGE>


                        REPORT OF INDEPENDENT ACCOUNTANTS



To the Board of Directors
Met-Pro Corporation
Harleysville, Pennsylvania

We have  reviewed  the  accompanying  condensed  consolidated  balance  sheet of
Met-Pro Corporation and its wholly-owned subsidiaries as of October 31, 2000 and
the related condensed  consolidated  statements of operations for the nine-month
and three-month periods ended October 31, 2000 and 1999 and stockholders' equity
and cash flows for the nine-month periods ended October 31, 2000 and 1999. These
financial statements are the responsibility of the Company's management.

We  conducted  our  reviews in  accordance  with  standards  established  by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the  expression  of an opinion  regarding the  financial  statements  taken as a
whole. Accordingly, we do not express such an opinion.

Based on our reviews, we are not aware of any material modifications that should
be made to the accompanying condensed consolidated financial statements for them
to be in conformity with generally accepted accounting principles.

We have  previously  audited,  in accordance  with generally  accepted  auditing
standards, the consolidated balance sheet as of January 31, 2000 and the related
consolidated statements of operations,  stockholders' equity, and cash flows for
the year then ended (not presented herein); and in our report dated February 25,
2000, we expressed an unqualified opinion on those financial statements.  In our
opinion,  the information set forth in the accompanying  condensed  consolidated
balance sheet as of January 31, 2000 is fairly stated, in all material respects,
in relation to the balance sheet from which it has been derived.

                                                    /s/ Margolis & Company P.C.
                                                    ---------------------------
                                                    Certified Public Accountants

Bala Cynwyd, Pennsylvania
November 17, 2000


                                      -8-
<PAGE>

                               MET-PRO CORPORATION


Item 2.  Management's  Discussion  and Analysis of the  Financial  Condition and
         Results of Operations

Results of Operations:

Nine Months Ended October 31, 2000 vs Nine Months Ended October 31, 1999

Net sales for the  nine-month  period  ended  October 31, 2000 were  $61,767,172
compared to  $59,212,504  for the  nine-month  period ended October 31, 1999, an
increase of $2,554,668 or 4.3%. Sales in the Product  Recovery/Pollution Control
Equipment segment were $39,616,215 or slightly higher than the nine-month period
October 31, 1999. Sales in the Fluid Handling Equipment segment were $22,150,957
or 11.5% higher compared to the nine-month period ended October 31, 1999.

Backlog at October 31, 2000 totaled  $11,358,413 or 11.8% lower than the backlog
of orders on hand at October 31, 1999. In addition,  the Company had  $4,245,571
of  orders  that  are  not  included  in  our  backlog  due  to  the   Company's
long-standing  policy of not including these orders in backlog until engineering
drawings are approved.

Net income for the  nine-month  period  ended  October 31,  2000 was  $5,700,782
compared to  $5,450,641  for the  nine-month  period ended  October 31, 1999, an
increase of $250,141 or 4.6%.

The gross  margin for the  nine-month  period  ended  October 31, 2000 was 34.2%
versus  34.5% for the same  period in the prior  year.  This  decrease is due to
lower  gross  margins  experienced  in the  Product  Recovery/Pollution  Control
Equipment segment.

Selling expense decreased $88,936 during the nine-month period ended October 31,
2000 compared to the same period last year.  Selling  expense as a percentage of
net sales was 8.9% for the nine-month period ended October 31, 2000, compared to
9.4% for the same period last year.

General and  administrative  expense was $6,449,342  for the  nine-month  period
ended October 31, 2000 compared to $6,083,595  for the same period last year, an
increase of $365,747.  General and administrative expense as a percentage of net
sales was 10.4% for the  nine-month  period ended  October 31, 2000  compared to
10.3% for the same period last year.

Interest  expense was $534,376 for the nine-month  period ended October 31, 2000
compared  to $634,577  for the same  period in the prior year,  or a decrease of
$100,201.

Other income, net, decreased $17,232 for the nine-month period ended October 31,
2000 compared to the nine-month period ended October 31, 1999.

The  effective  tax rate for the  nine-month  period ended  October 31, 2000 was
36.9% compared to 36.0% for the nine-month period ended October 31, 1999.

Three Months Ended October 31, 2000 vs Three Months Ended October 31, 1999

Net sales for the  three-month  period ended  October 31, 2000 were  $21,258,013
compared to $17,846,269  for the  three-month  period ended October 31, 1999, an
increase of $3,411,744 or 19.1%.  The sales increase can be attributed to higher
sales in both Product  Recovery/Pollution  Control  Equipment and Fluid Handling
Equipment segments.

Net income for the  three-month  period  ended  October 31, 2000 was  $2,016,979
compared to  $1,701,663  for the  three-month  period ended October 31, 1999, an
increase  of  $315,316  or 18.5%.  The  increase in net income is related to the
higher sales volume in both Product  Recovery/Pollution  Control  Equipment  and
Fluid Handling Equipment segments.

The gross margin for the  three-month  period  ended  October 31, 2000 was 33.8%
compared to 35.4% for the same period  last year.  The  decrease is due to lower
gross margins in the Product Recovery/Pollution Control Equipment segment.

                                      -9-
<PAGE>

                              MET-PRO CORPORATION


Item 2.  Management's  Discussion  and Analysis of the  Financial  Condition and
         Results of Operations continued...

Selling expense  decreased  $28,817 during the three-month  period ended October
31, 2000  compared to the same period last year.  As a percentage  of net sales,
selling expense  decreased to 8.4% for the three-month  period ended October 31,
2000 from 10.1% for the three-month period ended October 31, 1999.

General and administrative  expense was $2,154,300 during the three-month period
ended  October 31, 2000  compared to $1,957,573  during the  three-month  period
ended  October 31,  1999,  an increase of $196,727.  General and  administrative
expense  for the  three-month  period  ended  October  31, 2000 was 10.1% of net
sales, compared to 11.0% of net sales for the same period last year.

Interest expense was $173,695 for the three-month  period ended October 31, 2000
compared  to $205,568  for the same  period in the prior year,  or a decrease of
$31,873.

Other income,  net,  increased $28,270 for the three-month  period ended October
31, 2000 compared to the three-month period ended October 31, 1999.

The  effective  tax rate for the  three-month  period ended October 31, 2000 was
37.5% compared to 31.0% for the three-month period ended October 31, 1999.

Liquidity:

The  Company's  cash and cash  equivalents  were  $7,900,581 on October 31, 2000
compared to  $6,331,556  on January 31, 2000,  an increase of  $1,569,025.  This
increase  is the  net  result  of  the  following  which  occurred  during  this
nine-month  period:  Positive  cash flow  provided by  operating  activities  of
$8,281,541,  and by proceeds received from the sale of property and equipment of
$2,000,  offset by  negative  cash flow used in the  payment of  quarterly  cash
dividends  amounting to  $1,363,507  (net of $123,641 of  dividends  utilized by
stockholders for stock purchases under the Dividend Reinvestment Plan), payments
on long-term debt totaling $1,505,834,  purchases of treasury stock amounting to
$3,018,127,  and investment in property and equipment amounting to $784,322. The
Company's cash flows from  operating  activities are influenced by the timing of
shipments and negotiated standard payment terms,  including retention associated
with major projects.

Accounts  receivable  (net) amounted to $13,275,831 on October 31, 2000 compared
to $13,733,256 on January 31, 2000, which represents a decrease of $457,425. The
timing and size of shipments  and  retainage  on  contracts,  especially  in the
Product  Recovery/Pollution  Control Equipment segment,  will influence accounts
receivable balances at any point in time.

Inventories  were  $13,782,676  on October 31, 2000 compared to  $13,744,142  on
January 31, 2000, an increase of $38,534. Inventory balances fluctuate depending
upon  market  demand,  the size and timing of  orders,  and  varying  lead times
required.

Current  liabilities  amounted to  $14,144,612  on October 31, 2000  compared to
$13,681,578  on January 31, 2000,  an increase of $463,034.  Current  portion of
long-term debt and accrued expenses,  offset by a reduction in accounts payable,
other taxes payable, dividend payable, and customers' advances accounted for the
increase.

The  Company  has  consistently  maintained  a high  current  ratio  and has not
utilized  either  the  domestic  line of  credit or the  foreign  line of credit
totalling $5.0 million,  which are available for working capital purposes.  Cash
flows, in general,  have exceeded the current needs of the Company.  The Company
presently foresees no change in this situation in the immediate future.


                                      -10-
<PAGE>

                              MET-PRO CORPORATION


Item 2.  Management's  Discussion  and Analysis of the  Financial  Condition and
         Results of Operations continued...

Capital Resources and Requirements:

Cash flows provided by operating  activities  during the nine-month period ended
October 31, 2000 amounted to  $8,281,541,  compared with  $7,715,350  during the
nine-month period ended October 31, 1999, an increase of $566,191. This increase
in cash flows from operating  activities was due  principally to the decrease in
accounts receivable balances combined with an increase in net income and accrued
expenses offset by a decline in accounts payable and customers' advances.

Cash flows used in  investing  activities  during the  nine-month  period  ended
October 31, 2000 amounted to $782,322  compared with $883,647 for the nine-month
period ended October 31, 1999. The Company's  investing  activities  principally
consist  of the  acquisitions  of  property,  plant  and  equipment  in the  two
operating segments.

Financing  activities  during the  nine-month  period  ended  October  31,  2000
utilized  $5,887,468  of  available  resources  compared to  $9,068,406  for the
nine-month period ended October 31, 1999. The 2000 activity is the result of the
payment of quarterly cash dividends  amounting to $1,363,507 (net of $123,641 of
dividends  utilized for stock purchases under the Dividend  Reinvestment  Plan),
reduction of long-term debt totaling  $1,505,834,  plus the purchase of treasury
stock totaling $3,018,127.

On May 11, 1999,  the Company  announced the initiation of a 350,000 share stock
repurchase program ("1999 Stock Repurchase Program"). The Company completed this
stock repurchase program during the nine-month period ended October 31, 2000. On
February  21, 2000 the Company  announced a new stock  repurchase  program  (the
"2000  Stock   Repurchase   Program")  for  an  additional   350,000  shares  or
approximately  6% of the  Company's  outstanding  stock,  to commence  after all
shares have been repurchased  under the 1999 Stock Repurchase  Program.  The new
program was initiated  because in management's view the current stock price does
not reflect  the true stock  value.  Purchases  may be made from time to time in
open  market  transactions  at the  prevailing  prices  and in  accordance  with
applicable  rules.  The Company may discontinue the program at any time. For the
nine-month period ended October 31, 2000, the Company had repurchased a total of
318,412  shares  consisting  of 253,437  shares under the 2000 Stock  Repurchase
Program and 64,975 shares under the 1999 Stock Repurchase  Program, at a cost of
$3,018,127,  or 5% of the outstanding shares, which was charged to stockholders'
equity.

Due to strong  cash flows  generated  from  operating  activities  in 1999,  the
Company  announced the change from an annual dividend,  which was  traditionally
paid during the month of April, to an expected  quarterly  dividend.  Payment of
future dividends will depend on future earnings and capital  requirements of the
Company and is at the discretion of the Board of Directors.

The Board of Directors declared quarterly dividends of $.08 per share payable on
March 10,  2000,  June 9,  2000,  September  11,  2000 and  December  8, 2000 to
stockholders  of record as of February 25, 2000,  May 26, 2000,  August 28, 2000
and November 24, 2000, respectively.

Consistent with past practices, the Company intends to continue to invest in new
product  development  programs and to make capital  expenditures  to support the
ongoing  operations  during the coming year. The Company  expects to finance all
capital expenditure requirements through cash flows generated from operations.

                                      -11-
<PAGE>

                              MET-PRO CORPORATION


Item 2.  Management's  Discussion  and Analysis of the  Financial  Condition and
         Results of Operations continued...

Cautionary Statement Regarding Forward-Looking Statements:

As a cautionary note to investors,  the Company and its representatives may make
oral  or  written  statements  from  time  to  time  that  are  "forward-looking
statements".  This would  include  information  concerning  possible  or assumed
future  activities,  plans,  results of operations of the Company and statements
preceded by,  followed by or that include the words  "anticipates",  "believes",
"designed to", "estimates",  "expects", "foreseeable future", "goal", "intends",
"projects",   "projection",   "plans",   "scheduled",   "should",   or   similar
expressions. For those statements, the Company claims the protection of the safe
harbor  for  forward-looking  statements  contained  in the  Private  Securities
Litigation Reform Act of 1995.

There are a number of  important  factors  which could cause  actual  results to
differ materially from those  anticipated.  The Company believes that its future
operating results will continue to be subject to quarterly variations based upon
a wide variety of factors  including  the  cyclical  nature of both the business
segments and the markets  addressed by the Company's  products,  price  erosion,
competitive factors, the timing of new product introductions, changes in product
mix, the  availability  and extent of  utilization  of  manufacturing  capacity,
product obsolescence,  the effectiveness of the Company's cost control programs,
the  availability  of  suitable  acquisition  opportunities  and the  ability to
develop and implement new  technologies.  The Company's  operating results could
also be  impacted by sudden  fluctuations  in  customer  requirements,  currency
exchange rate  fluctuations  and other economic  conditions  affecting  customer
demand and the cost of operations in one or more of the global  markets in which
the   Company   conducts   business.   As   a   participant   in   the   product
recovery/pollution  control and fluid handling industries,  the Company operates
in a rapidly changing and highly competitive environment. The Company sells both
custom  and  industrial  products;  accordingly,  changes in the  conditions  or
composition of any of the Company's customers may have an impact on the Company.
While the Company cannot  predict what effect these various  factors may have on
its financial  results,  the  aggregate  effect of these and other factors could
result in volatility in the Company's future performance and stock price.

                                      -12-
<PAGE>

                              MET-PRO CORPORATION


PART II - OTHER INFORMATION

Item 1.   Legal Proceedings

None

Item 2.   Changes in Securities and Use of Proceeds

None

Item 3.   Defaults Upon Senior Securities

None

Item 4.   Submissions of Matters to a Vote of Security Holders

None

Item 5.   Other Information

None

Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits Required by Item 601 of Regulation S-K

         None

         (b)  Reports on Form 8-K

         There were no Reports on Form 8-K filed during the  nine-month  period
         ended October 31, 2000.



                                      -14-
<PAGE>

                              MET-PRO CORPORATIONT



                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
     registrant  has duly  caused  this report to be signed on its behalf by the
     undersigned thereunto duly authorized.

                                             Met-Pro Corporation
                                             -----------------------------------
                                             (Registrant)




November 28, 2000                            /s/ William L. Kacin
                                             -----------------------------------
                                             William L. Kacin,
                                             Chairman, President and
                                             Chief Executive Officer

November 28, 2000                            /s/ Gary J. Morgan
                                             -----------------------------------
                                             Gary J. Morgan,
                                             Vice President  of  Finance,
                                             Secretary and Treasurer, Chief
                                             Financial Officer, Chief Accounting
                                             Officer and Director




                                      -14-