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AIR-CURE ENVIRONMENTAL, INC. ENTERS INTO A DEFINITIVE AGREEMENT TO ACQUIRE CEILCOTE AIR POLLUTION CONTROL

AIR-CURE ENVIRONMENTAL, INC. ENTERS INTO A DEFINITIVE AGREEMENT TO
 ACQUIRE CEILCOTE AIR POLLUTION CONTROL
 MINNEAPOLIS, Sept. 3 /PRNewswire / -- Air-Cure Environmental, Inc. (NASDAQ: AIRE) announced today that it has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of Ceilcote Air Pollution Control ("Ceilcote") an operating unit of Master Builders Technologies, an affiliate of Sandoz, Ltd. Air-Cure intends to finance the acquisition with a combination of commercial credit and additional debt or equity financing.
 Ceilcote, with 1991 revenues of over $17 million, has operations in North America, Europe and the Far East. Ceilcote is recognized as one of the leading companies providing engineered solutions to air pollution problems involving noxious gas and particulate emissions in a wide range of industries, particularly the chemical process industry. Based on Ceilcote's 1991 performance it is expected that the acquisition will approximately triple Air-Cure's revenues. Air-Cure intends to operate Ceilcote with substantially all of Ceilcote's existing personnel.
 Ceilcote's product line includes: 1) air pollution control systems of various designs and configurations which are used for absorption of noxious gases from a variety of process sources; removal of aerosol and particulate contaminants; and odor abatement, 2) fiberglass reinforced plastic fans designed for maximum resistance to corrosive fumes and gases, and 3) tower packing and internal components used to enhance the efficiency in a wide range of mass transfer and particulate collection applications.
 Kam Tejwani, Chairman and Chief Executive Officer of Air-Cure stated, "The acquisition of Ceilcote will give Air-Cure an entry into additional niche markets within the air pollution control industry and will provide us with the opportunity to expand our business by introducing our existing products into Ceilcote's worldwide marketing network. The combined companies will be well-positioned to benefit from increasingly stringent international environmental regulations." Tejwani continued, "The combination of Air-Cure and Ceilcote will diversify Air-Cure's product line and customer base and we expect Air- Cure's sales will stabilize at a substantially higher level."
 Air-Cure Environmental, Inc., designs, manufactures and markets proprietary air pollution control systems and components which limit the emission of particulate and gaseous pollutants into the environment.
 -0- 9/3/92
 /CONTACT: Kam Tejwani, Chairman and CEO, Air-Cure Environmental, Inc., 612-571-0560; or Tom de Petra or Adrienne Griffith of de Petra & Associates, Inc., 612-338-7630, for Air-Cure Environmental, Inc./
 (AIRE) CO: Air-Cure Environmental, Inc.; Ceilcote Air Pollution Control ST: Minnesota IN: SU:


DS -- MN003 -- 6281 09/03/92 09:38 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:405
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