CECO Environmental Corp. (CECE) won several new orders across the world worth $19 million. These new orders came in primarily from natural gas, power generation, automotive, food, oil refinery and wind turbine customers located in the U.S., Europe, Canada and Asia.
These orders came shortly after CECO Environmental completed the important acquisition of Met-Pro, a niche-oriented provider of product recovery, pollution control, fluid handling and filtration solutions across multiple diversified end-markets.
In Jun 2013, CECO had received bulk orders of similar kind worth $15 million. These orders came shortly after CECO Environmental completed the important acquisition of 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 enjoy a multi-billion dollar market and is still growing at a rapid pace. The demand for clean air and water and an environment that is free of industrial pollutants further help in the growth of these products. More and more businesses are paying serious attention to environmental protection given the increasing requirement of complying with stringent environmental regulations becoming mandatory both in the U.S. and globally.
Therefore, given this increasing need for environmental compliance, CECO Environmental has been capturing the market share with strategic acquisitions across diverse areas of pollution control solutions.
CECO Environmental is a leading provider of air pollution control technology globally. Currently, the company has a Zacks Rank #3 (Hold). Other stocks in the industry that are worth considering at the moment are Progressive Waste Solutions Ltd. (BIN), Sharps Compliance Corp (SMED) and PerkinElmer Inc (PKI). All three carry a Zacks Rank #2 (Hold).