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CECO Environmental Corp. (CECO), incorporated in 1966, operates as a provider of air pollution control products and services through four principal product groups. The Contracting Group produces air pollution control and industrial ventilation systems. The Equipment Group produces various types of air pollution control equipment. The Parts Group manufactures products used by the Company and other air pollution control companies and contractors. The Engineering Group provides industrial ventilation engineering and source emission testing services. With a diversified base of more than 3,000 active customers, CECO provide services to several industries, including aerospace, brick, cement, ceramics, metalworking, printing, paper, food, foundries, utilities, metal plating, woodworking, chemicals, glass, automotive, ethanol, pharmaceuticals, and chemicals.
In 2007, the Company acquired assets of Effox, Inc., a producer of damper and expansion joints, on February 28, 2007 to continue the execution of its horizontal integration strategy, broadening its exposure to the energy, power and utility markets. CECO also acquired the assets of GMD Environmental Technologies on October 31, 2007. On February 29, 2008, the Company acquired the assets of Fisher-Klosterman, Inc. (FKI), which produces air pollution and particulate recovery products in the fields of petroleum refinery, power production, petrochemicals, and manufacturing. Contracting
The Company's contracting business unit consists of its Kirk & Blum division and H.M. White. Under the Kirk & Blum trade name, CECO has four principal lines of business. The largest line, with eight strategic locations throughout the Midwest and Southeast United States, is air pollution control systems and industrial ventilation. These systems, primarily sold on a turnkey basis, include oil mist collection, dust collection, industrial exhaust, chip collection, make-up air, as well as automotive spray booth systems, industrial and process piping, and other industrial sheet metal work. The Company provides engineered solution to in-plant process problems in order to control airborne pollutants. Representative customers include General Electric Company, General Motors Corporation, The Procter & Gamble Company, Nissan Motor Co., Ltd., Honda Motor Co., Inc., Toyota Motor North America, Inc., The Boeing Company, Lafarge, Corning Incorporated, RR Donnelley, and Alcoa Inc. North America is the principal market served.
CECO has supplied equipment and engineering services in certain overseas markets. The Company has completed several contracts in Mexico and is executing large projects in China. In February 2006, CECO entered into a transition agreement with H.M. White, LLC and H.M. White Holdings of Detroit, Michigan to jointly participate in the pursuit of new business in the areas of industrial ventilation systems and sheet metal and paint finishing construction.
Equipment The Company's equipment business unit consists of CECO Filters, Busch International, CECO Abatement, CECOaire, Effox, GMD and FKI. The Company enables its customers to meet BACT requirements and compliance targets for fumes, volatile organic compounds, process, and industrial odors. CECO's services eliminate toxic emission fumes and volatile organic compounds from large-scale industrial processes. The Company has a presence in the chemical processing, ethanol, paint booth emissions, wastewater treatment, and wood products industries.
Components/Parts
CECO markets component parts for industrial air systems to contractors, distributors and dealers throughout the United States under the Kirk & Blum Parts division. Primary users for its Company's K&B Duct product line are those that generate dry particulate such as furniture manufacturers, metal fabricators, and any other users desiring flexibility in a duct system. Customers include end users, contractors, and dealers.
Engineering/Design
The Company's engineering and design services are marketed under the kbd/Technic trade name to provide engineering services directly to customers. CECO routinely conducts stack tests for compliance demonstrations and provide customers with engineering evaluations of process or pollution control equipment. The Company's testing capabilities include the measurement of particulate emissions and particle size distribution, including PM-10, sulfur oxides, nitrogen oxides, volatile organic compounds (VOCs), metals, and acid gases. The Company's industrial ventilation system designs enable reduced construction, operating, and maintenance costs by optimizing airflow. Representative customers include General Motors Corporation, Ford Motor Company, Toyota Motor North America, Inc., The Quaker Oats Company, Nissan Motor Co., Ltd. and Honda Motor Co., Inc. CECO Energy Management is CECO's joint effort involving Kirk & Blum, H.M. White and kbd/Technic to assist customers in developing plant wide energy reduction strategies in addition to eliminating waste and raising the efficiency of ventilation systems. By using Life Cycle Cost Analysis, the Company seeks to build efficiency into the design of fans, motors, and collectors that delivers substantial cost savings over the life of the exhaust system.
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http://stocks.us.reuters.com/stocks/fullDescription.asp?rpc=66&symbol=CECE.O
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