CECO Environmental Corp. (CECE - Snapshot Report) announced yesterday winning several new orders worth $15 million from across the globe. These new orders came in primarily from natural gas, traditional power, automotive, food, oil refinery and wind turbine customers located in the United States, Canada and Asia.
These orders came shortly after CECO Environmental completed the important acquisition Aarding Thermal Acoustics B.V., one of the global leaders in natural gas turbine exhaust systems and silencer applications.
The air pollution control and industrial ventilation products today enjoy a multi-billion dollar market and is still growing at a rapid pace. It is also highly fragmented. The incremental growth is more so because people these days demand to live in a world of clean air and water and an environment that is free of industrial pollutants.
Tetra Tech Inc. (TTEK - Analyst Report) and Waters Corp. (WAT - Analyst Report) are some of the leading companies providing environmental services to companies and U.S. Federal. Recently, Chicago Bridge & Iron (CBI - Analyst Report) also signed a $160 million worth indefinite delivery/indefinite quantity contract with the Environmental Protection Agency (EPA) to try to provide a pollution-free environment.
CECO Environmental is a leading provider of global, air pollution control technology. The company offers products and services through three product groups: the Engineered Equipment Technology and Parts Group, which produces various types of air pollution control technology and equipment; the Contracting/Services Group, which produces air pollution control and engineered industrial ventilation systems; and the Component Parts Group, which manufactures products used by CECO Environmental and other air pollution control companies and air system contractors. CECO currently carries a Zacks Rank #3 (Hold).