CECO Environmental Expands Into The Growing Aftermarket Business
CINCINNATI, Sept. 22 /PRNewswire-FirstCall/ -- CECO Environmental Corp. (Nasdaq: CECE), a leading provider of air pollution control and industrial ventilation systems, announced today that it has received a new order from a large North American refinery for aftermarket parts and service. The order was for approximately $700,000 and represents the largest order the Company has received as part of this refocused aftermarket initiative.
CECO recently expanded its aftermarket parts and service initiative to focus across all its Air Pollution Control segments. Globally, CECO has over $2.0 billion of installed equipment and systems across all of its divisions. The Company has now dedicated the resources necessary to expand its installed base globally to ensure continued growth, both from new orders and from existing projects the Company has previously sold.
CECO also continues to streamline and optimize its operations to improve efficiency and lower operational costs. It is fully integrating its GMD division pulse jet baghouse business within FKI-Buell. GMD, located in Ft. Worth, Texas, will be shut down operationally, creating additional cost savings, while sales support and project management will be shifted to FKI-Buell. The GMD operational streamlining move is consistent with the recent Cincinnati plant closure and shifting of that production to fully optimize a fewer number of CECO plants. Coupled with the recent sale of the Classifier division, these changes provide the opportunity for CECO to amplify its focus strategically on its core Global Air Pollution Control business.
Jeff Lang, CECO's Chief Executive Officer, commented, "I'm very pleased with our operational excellence initiatives to reduce costs and optimize our manufacturing footprint which have been implemented throughout this year. These initiatives, along with our improved sales engineering and global market coverage focus, will favorably position us in the marketplace. We are gearing up across all our Air Pollution Control divisions to ensure focus and growth in the aftermarket parts and service business in conjunction with customer service excellence."
ABOUT CECO ENVIRONMENTAL
CECO Environmental Corp. is North America's largest independent air pollution control company. Through its subsidiaries – Busch International, CECOaire, CECO filters, CECO Abatement Systems, kbd/Technic, Kirk & Blum, Effox, Fisher-Klosterman, Flextor and A.V.C. Specialists – CECO provides a wide spectrum of air quality services and products including: industrial air filters, environmental maintenance monitoring and management services, and air quality improvements systems. CECO is a full-service provider to the steel, military, aluminum, automotive, ethanol, aerospace, electric power, semiconductor, chemical, cement, metalworking, glass, foundry and virtually all industrial process industries.
For more information on CECO Environmental, please visit the company's website at www.cecoenviro.com.
Contact: |
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Corporation Information |
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Jeff Lang, CECO Environmental Corp. |
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Email: [email protected] |
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1-800-333-5475 |
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This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in CECO's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include changes in market conditions in the industries in which the Company operates. Should one or more of these risks or uncertainties materialize, or should the assumption prove incorrect, actual results may vary in material aspects from those currently anticipated.
SOURCE CECO Environmental Corp.
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