Company Expands International Water
Treatment Offering
DALLAS, April 7,
2022 /PRNewswire/ -- CECO Environmental Corp.
(Nasdaq: CECE) ("CECO"), a leading environmentally
focused, diversified industrial company whose solutions protect
people, the environment, and industrial equipment, today announced
the acquisition of substantially all of the assets of Index Water,
expanding its water treatment solutions portfolio serving the
Middle East region. Terms of the
deal were not disclosed.
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CECO's deep experience in high-efficiency, processing,
separation and filtration solutions is further enhanced with the
addition of Index Water's intellectual property, technologies, and
other assets that support systems including process and potable
water treatment, ultrafiltration, desalination and demineralization
technologies, in addition to effluent and sewage water treatment
including biological and reuse technologies. For more information
on CECO's water and wastewater solutions, visit
https://www.cecoenviro.com/landing-page/peerless-water-wastewater-emea-q12020-home/.
Over the last three years, CECO has been aggressively expanding
its presence in the produced water, process and potable water,
effluent and sewage and wastewater treatment markets. Through
organic innovation and acquisition, CECO has quickly become a
technology leader in liquid coalescing, de-aeration, ferrate-based
advanced oxidation, dissolved gas flotation, reverse osmosis, and
several other produced and process water technologies.
The company's most recent acquisition of Index Water's assets
adds new customers, intellectual property, and depth to its
technology stack. With this acquisition, coupled with the recently
announced acquisition of GRC, a leading industrial flow control
company serving the industrial, potable and storm water markets,
CECO continues to advance its leadership in water treatment
solutions.
"Industrial and infrastructure-related water and wastewater
treatment markets will continue to experience a high rate of growth
as there will be increased awareness and pressures associated with
sustainable water practices and scarcity concerns. With the
addition of the Index Water assets, we have expanded our leadership
presence and addressable water market in more than 10 countries by
at least $200 million, and it allows
us to further leverage the brand and capabilities across the
globe," said Todd Gleason, CEO,
CECO Environmental. "The addition of
the Index Water assets to CECO strengthens access to key customers
and a variety of important infrastructure projects in the
Middle East."
About CECO Environmental
CECO Environmental is a
global leader in industrial air quality and water treatment
solutions serving a broad landscape of industrial and other niche
markets. Providing innovative technology and application expertise,
CECO helps companies grow their business with safe, clean, and more
efficient solutions that help protect our shared environment. In
regions around the world, CECO works to improve air quality,
optimize the energy value chain, and provide custom Engineered
Systems for applications including power generation, petrochemical
processing, general industrial, refining, midstream oil and gas,
electric vehicle production, poly silicon fabrication, battery
recycling, beverage can, and water/wastewater treatment along with
a wide range of other applications. CECO is listed on Nasdaq under
the ticker symbol "CECE." For more information, please visit
www.cecoenviro.com.
SAFE HARBOR
Any statements contained in this Press Release, other than
statements of historical fact, including statements about
management's beliefs and expectations, are forward-looking
statements and should be evaluated as such. These statements are
made on the basis of management's views and assumptions regarding
future events and business performance and include, but are not
limited to statements about the benefits of the acquisition of the
Index Water assets and the expectations regarding the transaction's
impact on CECO's strategic growth plan. We use words such as
"believe," "expect," "anticipate," "intends," "estimate,"
"forecast," "project," "will," "plan," "should" and similar
expressions to identify forward-looking statements. Forward-looking
statements involve risks and uncertainties that may cause actual
results to differ materially from any future results, performance
or achievements expressed or implied by such statements. Potential
risks and uncertainties surrounding the acquisition of the Index
Water assets that could cause actual results to differ materially
include risks regarding the achievement of the anticipated benefits
of the acquisition, our ability to successfully integrate acquired
businesses and realize the synergies from acquisitions, as well as
a number of factors related to our business, including economic and
financial market conditions generally and economic conditions in
CECO's service areas; the ability to expand operations in both new
and existing markets; unpredictability and severity of catastrophic
events, including cyber-security threats, acts of terrorism or
outbreak of war or hostilities or public health crises, such as
uncertainties regarding the extent and duration of impacts of
matters associated with the novel coronavirus ("COVID-19"); and the
effect of competition in the air quality and fluid handling
industries. Additional risks and uncertainties are discussed under
"Part I – Item 1A. Risk Factors" of the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 2021.
Many of these risks are beyond management's ability to control or
predict. 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. Investors are cautioned not to place undue reliance on
such forward-looking statements as they speak only to our views as
of the date the statement is made. Furthermore, forward-looking
statements speak only as of the date they are made. Except as
required under the federal securities laws or the rules and
regulations of the Securities and Exchange Commission, we undertake
no obligation to update or review any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Investor Contact:
Matthew Eckl, Chief Financial
Officer
(888) 990-6670
investor.relations@onececo.com
News Media:
Kimberly Plaskett, Corporate
Communications Director
CECO-Communications@onececo.com
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SOURCE CECO Environmental Corp.