CECO Environmental Acquires GMD Environmental Technologies, Inc.

New York, NY - CECO Environmental Corp., a leading provider of air pollution control and industrial ventilation systems, announced recently that it has completed the acquisition of GMD Environmental Technologies, Inc. in an all cash transaction. GMD, located in Ft. Worth, Texas, designs and manufactures many types of air pollution control equipment for a variety of industries. It also designs and manufactures equipment and systems used to treat contaminants in exhaust air streams. Specialized sand recycling equipment is designed and manufactured for the foundry industry.

Rick Blum, President and Chief Operating Officer, stated, "We are delighted to have GMD as part of the CECO family. GMD is a quality company with a well deserved reputation in the pollution control industry. We are also happy to announce that Jerry Reier, GMD's President, will continue to run the company after the acquisition. Jerry is a well recognized expert in a number of aspects of air pollution control we are pleased to have him and his team now become part of the CECO team."

Phillip DeZwirek, Chairman and CEO of CECO stated, "GMD had sales in its last fiscal year of approximately $7M. We expect this acquisition to enhance both our revenues and our earnings. GMD has a backlog of over $3M. More importantly, we are continuing our 'horizontal integration' strategy of adding more products and services to those we already offer our customers."

SOURCE: CECO Environmental Corp.