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API ENTERPRISES ACQUIRES 24.5 PERCENT OF CECO FILTERS

 API ENTERPRISES ACQUIRES 24.5 PERCENT OF CECO FILTERS
 TORONTO, June 18 /PRNewswire/ -- API Enterprises (NASDAQ: APIE) announced today that it has completed the purchase of 24.5 percent of Ceco Filters, Inc.
 The purchase was completed by issuing 8,333,330 treasury shares of API Enterprises for 1,666,666 shares of Ceco Filters, Inc. owned by IntroTech Investments Inc. a private company. The purchase is valued at approximately $5,500,000.
 This purchase is the first step in a proposed merger of API Enterprises and Ceco Filters.
 API Enterprises Inc. is a substantial shareholder of API Electronics Inc. a manufacturer of custom made power transistors and semi-conductors for military and space programs.
 Ceco Filters, Inc. (PHLX: CEC.X) is a publicly traded manufacturer of industrial filters known as fiber-bed mist eliminators and is a rapidly growing company in the pollution control industry.
 -0- 6/18/92
 /CONTACT: Phillip DeZwirek of API Enterprises, 416-593-6543, or fax, 416-593-4658/
 (APIE) CO: API Enterprises Inc.; Ceco Filters Inc. ST: Ontario IN: SU: TNM


AH-OS -- NY044 -- 1545 06/18/92 13:33 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:180
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