CECO Environmental Announces New Orders Totaling $8.8 Million
CINCINNATI, May 16, 2012 /PRNewswire/ -- CECO Environmental Corp. (NasdaqGM: CECE), a leading global provider of air pollution control technology and industrial ventilation systems, announced today that it has recently received several new orders totaling $8.8 million.
The new orders include four from Chinese customers in the chemical and polysilicon industries, several from automotive, power and aluminum customers in the U.S., and two from a customer in Saudi Arabia in the power industry.
Jeff Lang, CECO's Chief Executive Officer, commented, "We are very pleased with the increased global activity and excited about receiving these significant orders. We are seeing improved capital expenditure spending from both new and existing customers throughout the world that we believe will further contribute to our overall growth in revenues and profitability."
ABOUT CECO ENVIRONMENTAL
CECO Environmental is a leading global provider of air pollution control technology. Through its subsidiaries – Busch International, CECO Filters, CECO Abatement Systems, Kirk & Blum, Effox-Flextor, Fisher-Klosterman/Buell, CECO China and A.V.C. Specialists – CECO provides a wide spectrum of air quality products and services including engineered equipment, cyclones, scrubbers, dampers, diverters, RTO's, component parts and monitoring and management services. Industries served include refining, petro-chemical, power, aluminum, steel, automotive, chemical and large industrial processes. Revenue from engineered equipment technology is approximately 75% and 25% from parts, services and aftermarket. Global Growth, Operational Excellence, Margin Expansion, Safety, and Employee Development are CECO's core competencies and long term objectives.
For more information on CECO Environmental, please visit the company's website at http://www.cecoenviro.com.
Jeff Lang, CECO Environmental Corp.
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.
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