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<SEC-DOCUMENT>0001181431-08-012380.txt : 20080221
<SEC-HEADER>0001181431-08-012380.hdr.sgml : 20080221
<ACCEPTANCE-DATETIME>20080221132650
ACCESSION NUMBER:		0001181431-08-012380
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080220
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080221
DATE AS OF CHANGE:		20080221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CECO ENVIRONMENTAL CORP
		CENTRAL INDEX KEY:			0000003197
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564]
		IRS NUMBER:				132566064
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-07099
		FILM NUMBER:		08632279

	BUSINESS ADDRESS:	
		STREET 1:		3120 FORRER STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45209
		BUSINESS PHONE:		4165936543

	MAIL ADDRESS:	
		STREET 1:		505 UNIVERSITY AVENUE
		STREET 2:		SUITE 1400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5G 1X3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	API ENTERPRISES INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALARM PRODUCTS INTERNATIONAL INC
		DATE OF NAME CHANGE:	19851210
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd195574.htm
<DESCRIPTION>ENTRY INTO ASSET PURCHASE AGREEMENT
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<title>Prepared By R.R. Donnelley Financial -- Form 8-k</title>
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<b>UNITED STATES </b></font></div>

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<b>SECURITIES AND EXCHANGE COMMISSION </b></font></div>

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<b>Washington, D.C. 20549 </b></font></div>

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<b>Form 8-k </b></font></div> <div><font Size="1">&nbsp;</font></div>

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<b>Current Report </b></font></div>

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<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </b></font></div>

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<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;02/20/2008 </b></font></div>




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<b>CECO ENVIRONMENTAL CORP </b></font></div>

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<b>(Exact name of registrant as specified in its charter)</b></font></div>

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<b>Commission File Number:&nbsp;&nbsp;0-7099</b></font></div>

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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>DE</b></font>
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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>13-2566064</b></font>
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<b>(State or other jurisdiction of</b></font>
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<div Align="center"><font Face="times New Roman" Size="2" Color="#000000"><b>(IRS Employer</b></font>
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<b>incorporation)</b></font>
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<b>Identification No.)</b></font>
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<b>3120 Forrer Street, Cincinnati, OH 45209</b></font></div>


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<b>(Address of principal executive offices, including zip code)</b></font>
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<b>(416) 593-6543 </b></font>
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<b>(Registrant&#146;s telephone number, including area code)</b></font>
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<b> </b></font>
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<b>(Former name or former address, if changed since last report) </b></font>
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<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR>
</b></font>


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<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>

[&nbsp;&nbsp;]&nbsp;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>


[&nbsp;&nbsp;]&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>


[&nbsp;&nbsp;]&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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<b>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement</b></font>
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On February 20, 2008, CECO Environmental Corp. (the "Company" or "CECO"), FKI Acquisition Corp. ("Acquisition"), an indirectly owned subsidiary of the Company, and Fisher-Klosterman, Inc. ("FKI"), and the shareholders of FKI for limited purposes, entered into an Asset Purchase Agreement ("APA"), pursuant to which Acquisition agrees to acquire substantially all of FKI's assets and properties used or held for use in connection with the business and assumed certain liabilities of FKI(the "Asset Purchase"), including the design, manufacture, and servicing equipment for product recovery, dust collection, and air pollution control and any goodwill associated therewith.  The Asset Purchase is expected to be completed on or around February 29, 2008, subject to customary closing conditions.<p>The Company has agreed to pay FKI consideration in the amount of approximately $16.0 million, which includes $15.0 million in cash and that number of shares of the Company's common stock worth approximately $1.0 million (based o
n the average closing price of the Company's common stock on the Nasdaq Global Market for the sixty trading days immediately preceding the closing date of the Asset Purchase). The total consideration paid excludes transaction costs and is subject to certain post-closing adjustments. <p>The consideration for the Asset Purchase also includes a three year earn-out payment, which is payable in unregistered shares of the Company's common stock. The earn-out payment is not to exceed in the aggregate shares worth approximately $3.5 million (the "Earn-out Cap")(based on the average closing price of the Company's common stock on the Nasdaq Global Market for the sixty trading days immediately preceding the closing date of the Asset Purchase).  The number of shares earned is based on 50% of the amount by which annual fiscal year gross profits of the purchased operations of FKI exceeds $8,800,000 for the fiscal year ended December 31, 2008, $17,600,000 for the fiscal year ended December 31, 2009, and $26,400,000 for the
 fiscal year ended December 31, 2010; provided that the amount of share issued is subject to the Earn-out Cap.  The buyer will receive certain registration rights in connection with both the shares issued at closing and in connection with the earn-out.<p>The parties to the APA have made customary representations, warranties and covenants therein.  The assertions embodied in those representations and warranties were made for purposes of the APA and are subject to qualifications and limitations agreed by the respective parties in connection with negotiating the terms of the APA.  In addition, certain representations and warranties made as of a specified date may be subject to a contractual standard of materiality different from what might be viewed as material to stockholders, or may have been used for the purpose of allocating risk between the respective parties rather than establishing matters as facts.  <p>This report contains statements about the future, sometimes referred to as "forward--looking" statemen
ts. Forward-looking statements are typically identified by the use of the words "believe," "may," "should," "expect," "anticipate," "estimate," "project," "propose,""plan," "intend" and similar words and expressions.  Forward-looking statements are subject to risks and uncertainties outside CECO's control. Actual events or results may differ materially from the forward-looking statements. For a discussion of additional contingencies and uncertainties to which information respecting future events is subject, see CECO's other SEC reports.</div><div align="left" style="text-indent:4%"></font>
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<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b></font>
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(d) Exhibits.<p>Exhibit 99.1&nbsp;&nbsp;&nbsp;  Press Release dated February 21, 2008</font>
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<b>Signature(s) </b></font>
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. </font>
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	<div Style="margin-left:2%; Text-indent:-2%"><font Face="times New Roman" Size="2" Color="#000000">
	CECO ENVIRONMENTAL CORP</font>
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	Date: February 21, 2008</font>
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	By:</font>
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	<div Style="margin-left:2%; Text-indent:-2%"><font Face="times New Roman" Size="2" Color="#000000">
	/s/&nbsp;&nbsp;&nbsp;&nbsp;Dennis W. Blazer</font>
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	Dennis W. Blazer</font>
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	<div><font Face="times New Roman" Size="2" Color="#000000">Chief Financial Officer and Vice President--Finance and Administration</font>
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<b>Exhibit Index </b></font>
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	<b>Description</b></font>
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	EX-99.1</font>
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	Press Release 2-21-08</font>
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<FILENAME>rrd195574_23443.htm
<DESCRIPTION>PRESS RELEASE 2-21-08
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<B><FONT face="sans-serif">NASDAQ: CECE</FONT></B><BR>
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<B><FONT face="sans-serif">NEWS RELEASE</FONT></B><BR>
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<B><FONT size=4 face="sans-serif">CECO ENVIRONMENTAL ACQUIRES FISHER-KLOSTERMAN, INC.</FONT></B></P>
<P align="left">
<B><FONT size=2 face="serif">NEW YORK, February 21, 2008 &#150; CECO Environmental Corp. (</FONT></B><FONT size=2 face="serif">NASDAQ: CECE), a leading provider of air pollution control and industrial ventilation systems, announced today that it has
agreed to acquire Fisher-Klosterman, Inc. in a transaction involving cash and stock. The acquisition of Fisher-Klosterman, headquartered in Louisville, Kentucky, also includes its Buell Division, located in Lebanon, Pennsylvania, and most
significantly, Fisher-Klosterman&#146;s 40,000 sq.ft. sales and manufacturing facility in Shanghai, China.  Fisher-Klosterman&#146;s businesses consist of producing cyclones, as well as classifiers, electrostatic precipitator parts and service, air
filtration equipment, and scrubbers. These products are utilized for air pollution control and particulate recovery in industries including petroleum refining, power production, petrochemicals, and manufacturing.</FONT></P>
<P align="left">
<FONT size=2 face="serif">Rick Blum, President and Chief Operating Officer, commented, &#147;We&#146;re delighted to have Fisher-Klosterman as part of the CECO family. They have been our neighbor in Louisville for many years. It is a company we know
well and respect.&#148;</FONT></P>
<P align="left">
<FONT size=2 face="serif">Phillip DeZwirek, Chairman and Chief Executive Officer, commented, &#147;Fisher-Klosterman had sales last year of &#36;35.3 million. We expect this acquisition to be accretive to both CECO&#146;s revenues and earnings. We
are also excited at acquiring an established platform in China from which not only to produce and sell Fisher-Klosterman products but also the wide variety of CECO&#146;s products and services. CECO intends to actively pursue its goal of
consolidating the air pollution control industry by acquisition as well as adding new planks to our turnkey platform.&#148;</FONT></P>
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<B><FONT size=2 face="serif">ABOUT CECO ENVIRONMENTAL</FONT></B><BR>
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<FONT size=2 face="serif">CECO Environmental Corp. is North America's largest independent air pollution control company. Through its nine subsidiaries -- Busch, CECOaire, CECO Filters, CECO Abatement Systems, kbd/Technic, Kirk &amp; Blum, H.M.
White, Inc., Effox, and GMD Environmental -- CECO provides a wide spectrum of air quality services and products including: industrial air filters, environmental maintenance, monitoring and management services, and air quality improvements systems.
CECO is a full-service provider to the steel, military, aluminum, automotive, ethanol, aerospace, electric power, semiconductor, chemical, cement, metalworking, glass, foundry and virtually all industrial process industries. </FONT></P>
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<FONT size=2 face="serif">For more information on CECO Environmental, please visit the company&#146;s website at www.cecoenviro.com.</FONT></P>
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<B><FONT size=2 face="serif">Contact:</FONT></B><BR>
<B><FONT size=2 face="serif">Corporate Information </FONT></B><BR>
<FONT size=2 face="serif">Phillip DeZwirek, CECO Environmental Corp.</FONT><BR>
<FONT size=2 face="serif">Email: investors@cecoenviro.com</FONT><BR>
<B><FONT size=2 face="serif">1-800-606-CECO (2326)</FONT></B><BR>
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<B><FONT size=2 face="serif">This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to certain risks, uncertainties and
assumptions.  These risks and uncertainties, which are more fully described in CECO&#146;s Annual and Quarterly Reports filed with the Securities and Exchange Commission, include changes in market conditions in the industries in which the Company
operates. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated.</FONT></B></P>

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