CINCINNATI, Sept. 30, 2014 /PRNewswire/ -- CECO
Environmental Corp. (NasdaqGM: CECE), a leading global
environmental technology company focused on critical solutions in
the air pollution control (APC), energy and fluid handling and
filtration segments, today announced that it has acquired SAT
Technology, Inc (SAT), a leading provider of Volatile Organic
Compounds (VOCs) abatement solutions for the Chinese air pollution
control market.
Based in Shanghai, China, SAT
Technology is focused on providing VOC abatement solutions to
customers within the industrial manufacturing market. With
approximately $5 million in annual
revenue and 17 employees, SAT Technology will help expand CECO's
existing Chinese product and market offering. CECO will
retain the entire SAT Technology organization, including its
President, Leo Liau who will become
an important part of the CECO China and Asian leadership
team.
"One of our key strategic growth initiatives is to expand our
operations in China both
organically and through acquisitions and we are excited to welcome
the SAT Technology team into the CECO China organization. We
believe SAT is an excellent fit that strengthens our product
portfolio and will enable us to better compete in the fast growing
Chinese air pollution control (APC) market," commented Jeff Lang, CECO's Chief Executive Officer. "SAT
Technology is highly complementary to our Adwest Technology unit
and brings an incremental technology as well as strengthening our
relationships with Chinese customers. China is likely to become the world's largest
APC market in a few years and we are taking a number of steps to
ensure we are well positioned to benefit from this market
opportunity both today, and in the future."
Brent Becker, CECO's President of
Asia also commented, "SAT
Technology is expected to serve as a growth platform for the other
CECO products in China as we drive
to expand our overall market reach. The Chinese government is
moving forward with implementing policies to curb air pollution
control and reduce the impact of VOC's and it is critical we have
the technology and relationships to compete in this high growth
market. We believe we have a very strong APC portfolio with the
expertise and capability to offer comprehensive solutions for
customers in China and around the
world. SAT Technology will help to expand our footprint in
China and make us even stronger in
the region."
ABOUT CECO ENVIRONMENTAL
CECO Environmental is a
leading global environmental technology company focused on critical
solutions in the air pollution control (APC), energy and fluid
handling and filtration industries. Through its well-known brands,
CECO provides a wide spectrum of products and services including
dampers & diverters, cyclonic technology, thermal oxidizers,
filtration systems, scrubbers, fluid handling equipment and plant
engineered services and engineered design build fabrication. These
products play a vital role in helping companies achieve exacting
production standards, meeting increasing plant needs and stringent
emissions control regulations around the globe. CECO globally
serves the broadest range of markets and industries including
power, municipalities, chemical, industrial manufacturing,
refining, petrochemical, metals, minerals & mining, hospitals
and universities. CECO is focused on building long-term shareholder
value by bringing its unique technology, portfolio and operational
excellence to strategic key growth markets around the world, while
maintaining the highest standards of employee development, project
execution and safety leadership. CECO is listed on NASDAQ under the
ticker symbol "CECE" and is a member company of the Russell 2000
Index. For more information on CECO Environmental, please visit the
company's website at
http://www.cecoenviro.com.
Contact:
Corporate
Information
Jeff Lang,
Chief Executive Officer
Ed
Prajzner, Chief Financial
Officer
1-800-333-5475
or
Investor Relations:
Shawn
Severson
The Blueshirt Group
Phone: (415) 489-2198
Email: Shawn@blueshirtgroup.com
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.