CECO Environmental Corp.
CECO stated that the record level orders received in first nine months reflect strong and consistent order flow from its recently acquired Kirk & Blum and kbd Technic subsidiaries. Kirk & Blum's orders are at all time record levels, 18% ahead of 1999.
"The $6.9 million in new orders were received from Fortune 500 and large multinational customers, such as General Electric, General Motors, and Siemens among others," states CEO Phillip DeZwirek.
CECO Environmental stated that demand in the industrial ventilation and air pollution control market, and its new ability to design, fabricate and install those systems on a turnkey basis will generate a substantial increase in CECO's revenues and earnings. CECO is cross selling a broader spectrum of products and services that is generating additional revenue opportunities throughout its operating units. CECO is moving closer to meeting its goal of $100 million in year 2000 revenues, a 319% increase over its 1999 revenue. For more information on CECO Environmental please visit the company's web site at http://www.cecoenviro.com/.
About CECO Environmental
CECO Environmental Corp. is among North America's largest independent air pollution control companies. CECO, through its five subsidiaries, Air Purator Corporation, Busch Company, CECO Filters, kbd Technic and Kirk and Blum, provides a wide spectrum of air quality services and products including: industrial air filters, high performance filter fabrics, environmental maintenance, monitoring and management services, and air quality improvement systems. CECO is a full-service provider to the steel, aluminum, automotive, aerospace, semiconductor, chemical, cement, metalworking, glass, foundry and virtually all industrial process industries.
This press release contains 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 assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated.
SOURCE: CECO Environmental Corp.
Contact: Phillip DeZwirek of CECO Environmental Corp., 800-606-CECO, or