CINCINNATI, Nov. 18, 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 industries, today announced that it has amended its
five-year senior secured credit facility, originally entered into
on August 27, 2013. The amended
agreement provides the Company with additional capital to finance
the previously announced acquisition of Emtrol LLC and for other
corporate purposes. The amended commitments total
approximately $200 million, up from
$155 million with the original
facility. The new facility matures on the same date of August 27, 2018.
"We are very pleased with the proactive support shown by our
banking syndicate led by Bank of America," said Ed Prajzner, Chief Financial Officer. "The
amended credit facility, together with our strong balance sheet and
increased liquidity position provides long-term stability and
financial flexibility for CECO's capital structure as we continue
to focus on our acquisition and organic growth strategy."
The Company will file a Form 8-K with the United States
Securities and Exchange Commission relating to the amendment, which
will include a copy of the amendment and further information
regarding its terms.
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.