March 4, 2013
CECO Environmental Corp.
(NasdaqGM: CECE), a leader in air pollution control technology systems, product recovery and filtration technology, announced that it has acquired Aarding Thermal Acoustics B.V. ("Aarding"), one of the world leaders in natural gas turbine exhaust systems and silencer applications.
with a significant global sales footprint, Aarding is a technology leader within gas turbine downstream engineered exhaust systems and silencing products focused on the natural gas, power and petrochemical industries. Founded in 1960 with revenues of approximately
in 2012, Aarding's superior brand, management team and technology have resulted in a broad blue-chip customer base located in countries throughout the world.
, will continue in their roles as President and Vice President, respectively, of Aarding. They will also lead CECO's expanding global natural gas business including its Flextor Group which provides complementary engineered solutions to those of Aarding.
"We are extremely excited with the acquisition of Aarding. We have been working successfully with Martin, Norbert and the Aarding team of 50 people for over three years on a profitable, global natural gas sales technology alliance that has provided us significant insight into Aarding's premier brand and unique capabilities," commented
, CECO's Chief Executive Officer. "As our business continues to expand globally within the natural gas sector, Aarding and CECO will become one of the leading natural gas engineered equipment providers in the world. Together with Aarding's technology, engineering team and global management experience, CECO can expect to gain an increasing share of this expanding market."
Mr. Lang continued, "The entire CECO team looks forward to Martin, Norbert and the rest of the Aarding family joining our leadership group and working with us to continue to grow our business, technology, global footprint and profitably. Aarding is truly a global business with sales derived from all over the world which greatly enhances our strategic direction."