CECO FILTERS CONTINUES RECORD GROWTH
CECO FILTERS CONTINUES RECORD GROWTH TORONTO, Aug. 24 /PRNewswire/ -- Ceco Filters, Inc. (PHLX: CEC.X)
reported today substantial increases in sales and earnings for the second quarter and six month period ended June 30, 1992.
For the six month period ended June 30, 1992 sales were $3,416,559 an increase of 70 percent over the same period in 1991. Earnings before taxes for the six months were $397,521 an increase of 100 percent over the comparable 1991 period. Sales for the second quarter were $1,750,807 an increase of 68 percent over 1991 and earnings before taxes were $182,785 an increase of approximately 70 percent over the 1991 second quarter. Ceco Filters stated that business is continuing to improve dramatically in the second half of the year with a record order back log. Ceco also reported that its recently completed acquisition of Air Purator Corporation of Taunton, Mass. will be adding to substantial sales and earnings increases in the second half of the year. Ceco Filters also stated that it is acquiring a West Coast operation in the medical waste disposal business. Ceco Filters reported that its announced merger with API Enterprises Inc. (NASDAQ: APIE) is entering the final stages of regulatory approval and should be completed in the fourth quarter. API Enterprises will be consolidating its shares on a one new for five old basis and one share of new API (to be renamed Ceco Environmental Corp.) will be exchanged for each existing share of Ceco Filters, Inc. -0- 8/24/92 /CONTACT: Phillip DeZwirek of Ceco Filters, 416-593-6543, or fax, 416-593-4658/ (CEC) CO: Ceco Filters, Inc. ST: Pennsylvania, Ontario IN: SU: ERN DC-OS -- NY062 -- 2667 08/24/92 15:17 EDT
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|Date:||Aug 24, 1992|
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