EXHIBIT 23

               Consent of Ernst & Young LLP, Independent Auditors

We consent to the incorporation by reference in this Annual Report (Form 10-K)
of Penn Engineering & Manufacturing Corp. of our report dated January 28, 2004,
included in the 2003 Annual Report to Stockholders of Penn Engineering &
Manufacturing Corp.

We also consent to the incorporation by reference of our report dated January
28, 2004 with respect to the consolidated financial statements of Penn
Engineering & Manufacturing Corp. incorporated by reference in this Annual
Report (Form 10-K) for the year ended December 31, 2003, in the following
registration statements:

         Penn Engineering & Manufacturing Corp. 1996 Equity Incentive Plan Form
         S-Registration Statement (Registration No. 333-20101);

         Penn Engineering & Manufacturing Corp. 1996 Employee Stock Purchase
         Plan Form S-8 Registration Statement (Registration No. 333-13073);

         Penn Engineering & Manufacturing Corp. 1998 Stock Option Plan for
         Non-Employee Directors Form S-8 Registration Statement (Registration
         No. 333-92907);

         Penn Engineering & Manufacturing Corp. 1999 Employee Stock Option Plan
         Form S-8 Registration Statement (Registration No. 333-92903);

         Penn Engineering & Manufacturing Corp. Dividend Reinvestment and Stock
         Purchase Plan Form S-3 Registration Statement (Registration No.
         333-73450).


                                                            Ernst & Young LLP


Philadelphia, Pennsylvania
March 12, 2004