Ceco Environmental: Pending Acquisition Of PMFG
Cincinnati - CECO Environmental Corp. ("CECO") (CECE) and PMFG, Inc. ("PMFG") (PMFG) announced that the U.S. Federal Trade Commission ("FTC") granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") relating to CECO's previously announced acquisition of PMFG.
As previously announced on May 4, 2015, CECO and PMFG entered into a definitive merger agreement (the "Merger Agreement") in which CECO will acquire all of the outstanding shares of PMFG common stock for cash and stock valued at $6.85 per share.
Termination of the HSR Act waiting period satisfies a condition to closing of the proposed transaction. The closing is also subject to approval of the stockholders of both CECO and PMFG and other customary closing conditions, including the effectiveness of CECO's Registration Statement on Form S-4, which was initially filed with the SEC on June 9, 2015.
About CECO Environmental Corp.
CECO Environmental Corp. is a leading global environmental, energy and fluid handling technology company. Through its well-known brands, CECO Environmental Corp. provides a wide spectrum of products and services including dampers & diverters, cyclonic technology, thermal oxidizers, filtration systems, scrubbers, fluid handling equipment and plant engineered services and engineered design build fabrication. These products play a vital role in helping companies achieve exacting production standards, meeting increasing plant needs and stringent emissions control regulations around the globe. CECO Environmental Corp. globally serves a broad range of markets and industries including power, municipalities, chemical, industrial manufacturing, refining, petrochemical, metals, minerals & mining, hospitals and universities. CECO Environmental Corp. is focused on building long-term shareholder value by bringing its unique technology, portfolio and operational excellence to strategic key growth markets around the world, while maintaining the highest standards of employee development, project execution and safety leadership.
CECO Environmental Corp. is listed on NASDAQ under the ticker symbol "CECE". For more information about CECO Environmental Corp., please visit the company's website at www.cecoenviro.com.
Jeff Lang, Chief Executive Officer
Ed Prajzner, Chief Financial Officer
The Blueshirt Group
Phone: (415) 489-2198
About PMFG, Inc.
PMFG, Inc. is a leading provider of custom-engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. PMFG primarily serves the markets for power generation natural gas infrastructure, and petrochemical processing. Headquartered in Dallas, Texas, PMFG markets its systems and products worldwide.
PMFG, Inc. is listed on NASDAQ under the ticker symbol "PMFG." For more information about PMFG, Inc. please visit the company's website at www.pmfginc.com