<SEC-DOCUMENT>0001193125-11-232258.txt : 20110825
<SEC-HEADER>0001193125-11-232258.hdr.sgml : 20110825
<ACCEPTANCE-DATETIME>20110825151336
ACCESSION NUMBER:		0001193125-11-232258
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110825
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110825
DATE AS OF CHANGE:		20110825

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:		111056484

	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>d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 8-K
</B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Securities Exchange Act of
1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Date of Report (Date of earliest event reported): August&nbsp;25, 2011 </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>CECO Environmental Corp. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Exact Name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Delaware</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>000-7099</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>13-2566064</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(State or other jurisdiction</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>of incorporation)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Commission</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>File Number)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(IRS Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>4625 Red Bank Road,</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cincinnati, OH</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>45227</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of principal executive offices)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Zip Code)</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number, including area code: 513-458-2600 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Not applicable </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Former Name or Former Address, if Changed Since Last Report) </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">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: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17&nbsp;CFR&nbsp;240.14a-12) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR 240.14d-2(b)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR 240.13e-4(c)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;8.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Other Events </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On
August&nbsp;25, 2011, CECO Environmental Corp. (the &#147;Company&#148;) issued a press release announcing a cash dividend in the amount of $0.025 per share payable on September&nbsp;30, 2011 to the Company&#146;s stockholders of record on
September&nbsp;15, 2011. A copy of the press release is furnished as Exhibit 99.1. to this report and is incorporated herein by reference. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;9.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Financial Statements and Exhibits </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)
Exhibits. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibit&nbsp;99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Press Release dated August&nbsp;25, 2011</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Signatures </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">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></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: August&nbsp;25, 2011</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">CECO Environmental Corp.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Dennis W. Blazer</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dennis W. Blazer</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vice President&#151;Finance and Administration</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">And Chief Financial Officer</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>dex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML><HEAD>
<TITLE>Press Release</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 99.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g223493ceco.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NasdaqGM: CECE</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NEWS RELEASE</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CECO ENVIRONMENTAL ANNOUNCES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>FIRST EVER CASH DIVIDEND </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px;padding-bottom:0px;"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>CINCINNATI, OHIO, August&nbsp;25<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">, 2011 &#150; CECO Environmental Corp. </FONT></B><FONT STYLE="font-family:Times New Roman" SIZE="2">(NasdaqGM: CECE), a leading provider of air pollution control and industrial ventilation systems,
announced that its Board of Directors has approved the initiation of a cash dividend to its shareholders. The first quarterly dividend of $0.025 per share will be paid on September&nbsp;30, 2011, to shareholders of record on the close of business on
September&nbsp;15, 2011. </FONT></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jeff Lang, CECO&#146;s Chief Executive Officer, commented, &#147;We are confident in the long term financial
strength and growth prospects for CECO and believe initiating a cash dividend provides increased value for our current shareholders and is also attractive to new shareholders who want to invest in a growth company with a dividend.&#148; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The dividend policy and the payment of cash dividends under that policy are subject to the Board&#146;s continuing determination that the dividend policy
and the declaration of dividends are in the best interest of CECO&#146;s shareholders. Future dividends and the dividend policy may be changed or cancelled at the Company&#146;s discretion at any time. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ABOUT CECO ENVIRONMENTAL </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">CECO
Environmental Corp. is a premier global provider of air pollution control equipment. Through its subsidiaries &#150; Busch International, CECO Filters, CECO Abatement Systems, kbd/Technic, Kirk&nbsp;&amp; Blum, Effox-Flextor, Fisher-Klosterman,
Buell APC, Buell FCC, and A.V.C. Specialists &#150; CECO provides a wide spectrum of air quality services and products including: industrial air filters, environmental maintenance monitoring and management services, and air quality improvement
systems. CECO is a full-service provider to the steel, refining, petrochemical, military, aluminum, automotive, ethanol, aerospace, power, chemical processing, mining, asphalt, glass, foundry, and virtually all industrial process industries.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">For more information on CECO Environmental, please visit the company&#146;s website at <U>www.cecoenviro.com</U>. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Contact: </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Corporate Information
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jeff Lang, CECO Environmental Corp. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Email: <U>investors@cecoenviro.com</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1-800-333-5475 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">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 assumption prove incorrect, actual results may vary in material aspects from those currently
anticipated. </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g223493ceco.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g223493ceco.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`,P"%`P$1``(1`0,1`?_$`,````,!``(#`0``````
M``````<)"@@%!@`!!`L!``,!`0$!`0$```````````4&!P0(`P`"`1````8!
M`0<#`04%`P<-`````@,$!08'`0@1$A,4%18)`!<8"B$B(R09,275)AK6)Y=!
M,C=76)A98:%"1#5%-E9F=I:G.!$``0,"!`,%`P<)!P0#`````1$"`P0%`"$2
M!C%!$U$B,A0'8146<8%"4I(S%Y&AT=(C4Y-45>%RHD/3-)3P8J0UP:-$_]H`
M#`,!``(1`Q$`/P"Z^W+BJVA(`^VG<T\C5;5Y&2R#'R6RQR):V=!S2@M(D)$>
M=G>.5+%1P2R22@C.-,%@(`BSG9ZW6ZV7"[UC+?;(9)ZV3PL8%<4S/S`9DG(<
M\9JNLI:"G=55LC8J=O%SB@'_`%V8C"U^^7G61J"G+_&=,FIK31IRHUK6/3*R
MJH=J/KW%BV`V!5N:%+*GV5.*`IWBP7AI.*-);F\*4Y"/&,C/&;C.0].[/].-
MLV:D9/?J"NK;LX-<X/II.G&4!+&L!1Z%07.4.Y`#$9O^[[S<)W16RIIJ:A!(
M&F9FMX4C47$*U0A0(G:N$C3EGU!6;)E$PL;693\XERHA$F4R*4:PV1W>U"=N
M)"0WDG+E3L,\9:,@&`%XSG[H<;,>JG22V:@@%-16RIBI@20UE&X-4\<@$SYX
M29V7"JDZU360R3'FZH!.7#-<;)T[ZV_(WIID<?>89K[I*61]A3M[;[;6EJDB
M$_KUP86X."26,3*^JU!S.0!)G)12AN.2J2,9QD(_NXQZ6;SM;9-\@?%56>JC
MF>2>K%2OCD#C]+4T9E<R'`@\Q@S;KWN*V2-?#7POC:@T/G:]A`Y(3E\H0C%=
M-MZ]XE?/BGU`:A*:LVOF"P&^HCXC)UT)NQC3M='W%,43-'P)U%JEE(T:$<3=
M920L3+@E%<Z`L.",[X\9QSE;MH5-H]0:.S7."9]&ZIUL#X'$SPL+G?=9DZPP
M@M4Z3QR&*W5W^&OVK47"BEC;4"'2XMD"12.`'CY:2X$'GRQ&$'4-Y%,8QC/D
M]09SC&-N?G>3]N=GV_\`??KI[W-LO^@N_P"`?U<1GWAN'^J#_E?VX]_(;R)_
M\3U!_OWD_P`;]?SW-LO^@N_X!_5Q][QW#_4__*_MQY\AO(G_`,3U!_OWD_QO
MU][FV7_07?\``/ZN/O>.X?ZG_P"5_;BHGQIZS@Z6O&NHN+6SJUK^SYO8%JV^
M?3KK,-0*69=]*8NQ-S8W5PU3M=ES(0%@DD:5@.,"$U$U96A&H$`9F0Y@F^=L
M>_\`?`MFUK=-3TL-/#U@RG+.F'N),AC"+W7!.#GZ4;PQ4-M7GW7MLUE[JXY9
MY)9.F72ZM6D`!@<53O`KR:N>$:ZJO*%Y'M3,A7&LNL;37IZK\#R>Y1R`4IJ8
M@T:6M:,1:4M(@?K"1X1RZ6#3939,R(PQ,G&:<9G"<(=P`*OM_86R;%"!+;*Z
MLK-*.DGI9'`G-2V,JQBJF0)0#/BJ/==T;CN<A+*RFIZ=5#(YFA/87Y.=^89G
M+"N11"[C90=-1:NZ3',3W@^0J)-G5XPY>S7Y2H&L4.YB_JO'$XGJC!&"-SG>
MR/.<^GWS-J%.*7W;5>6#=(;Y-VG2`@")P3),*_2K>KU_-P]8N75Y@*O%57BN
M&M:)_)EKPTS6[%'JTM9U)ZA*7.=LI["KFR]54%D:U2R.HDB5P>8Q*G0M=(F:
M0,12<*E&6$\:,P0!E#)S@\8O4^W3L7:-]MTD5!;*JBNFE8Y(J21H#@I#7,"-
M<URH[+5P(.0PU63<U]ME6Q]56PU%&O?8^=I*'B6N*D$<1FG),\6VN^K;32PT
M`DU3NUU0-'IW7-[6Z([<$\`-ARE$\NY+`W&%+R`&C&:>]GA29*W.*6HP(`PA
M$`>`\LQ[<ODUX.WXZ68WH.(,.GO@M&HY?W<UX$9CCBV/NUMCMXNKYHQ;B`1(
MO=0E!G\N7RXD2\@'F`UAWQ.Y+$M+.IC3!IZHIJ<'IE8WB*:AZ\%9-BM9:IR0
M(I:[R1W;2G:&%/+2>`TIL0`(4(Q;HAJ!'!QN=';/]-MM6BD94[@H:^MNS@US
M@^FDZ490$L#04?I.1<Y0[D$XR/<&\+Q7SNAM=32T]""0"V5FMXS&HDA6J/HA
M".97".I^V:B+6?ARBS=9]13Z2FI4Z(Q]E>L-E>74:-,#!29*-6K=AFY((+QN
M@#MV8QZJM')9;?%T*"V5,,"KI91N:%/$H!A(J&W"JDZM36PR2IQ=4`G\YQL.
MA];ODET\REFDD1\@],RQ`S)4;;F!VMJFB-C5^Y,R(KER&=3'Y`M4#;TY:;[A
M9[><C5DXP'(#<;N,>EN[[5V1>:=T%39JJ-[B3U(J1\<@<?I!S1GGQ#@0>8P8
MH+YN2WRMDAN$+VM`&F2=KV$#DA.7RA",5=D^96LS]`CAJ3)DE`F7JU.#/53C
M7H;ICV:Z1WB_M3XXLJ0^=<;I86%R88TODI2'F^;$U)#$G,<[CUST?3*O&[VV
M,LK/=+FNE$G0=U#`TM#CT^.H.<V(N33K(<FG%5&\J8V`W(.I_/@AA9U!H$I!
M([W!"&EZ*ND(NK";_J%+NB&HR_H]IH!JTJ:KH5IZ))63&O)C';A4NJNX'Y")
M:)Y6KH56,C:EK>UPMU1$HRLJS,$GG*![N!#QNTST:M539;.^^>[JBHJJTHR1
MCH0!"TII`?*T@EX<7%,P`.6$[U!KH;C7MMOFX8H*?Q,<)%ZA"JK6.!`:0F?$
MG"?]'OC/;=8][1>F*MU;T/*W`_<DTN0L;3<[6^H:Y979H3S-X8A3"JF1C6O*
M!O<\<JG-4!P:<,.W&Y@><4G<N^7[9M,ESN%NJXV#NL+C`6F1P.AKM$KG!I(S
M(&0]N%"S[:9>:]M%2U<#W>)P`D!T`C41JC`4`Y!>.+;2_"=XY4VGXS3\FT^1
MDU&%F<D"2SW((U=RE.RX2H\J2*K(3902%8X(EJC!@",FA0Y++`3DC@8X?KED
M^J6]77CWPZLDU:@3$,H4"=T1E6@$<TU9JJYXMGP5MP6_R`IVII(UG[Q3SUY$
ME>7#DB8F$</IA=>0'!P`V6)IW/;`+U@&T]3*)@G4GMP5)H4)ZE,&'*`IU!R7
M`!&%X,,P`><AP,6S>S>&>O&T2P%\-:'H%1K"%3-#KS"XF+O3&^ZCIDI]*E.\
M[AR^CCD[G\<EW>/+Q\W?3^I?472<$C^J/4#10XB8D>[>=XZV.-7LL[DLF4+F
MZ*5N\J7%;,$1+>D$48240$IK`88:(0"2L^=KWM:MY[RI+E8J*JFFH*.?6K80
MXB5T;6H7R-`##J*@DJX@#,G'ZK=NUNWMOST=SJ8(XZJHBTYR$`L#G.4-85+@
M@[.[QX#"61:>*AW1;NM[3GD6[G=QVMJ.Q]NS[/M]D\[/M]5#WS<OZ56_;IO]
M?"7[OH_YZF^S-_I8I)H^;?321"FJJBMP^U5@VO':]B#+9,Z1U+J;(22^<MK$
MA22F1IBA1U*(!#P]%''AVE%YW1X^Z']F(A=:7URJ;G45%M\Q#;GS/=%&9:4E
MD9<2QI[QX-0<3BD4,_IK#1115G2DJVQM#W=.;O.`&H\.9SQJRBV;Z:K4G:\/
MI"FZMK*667/E;@ABL=%`-0+'AS4M;*Y2!<5U5^1MC0DR2TM"@W:<>7@7#W0Y
MR+(<97[M+ZXV.WR76YU$\=#"`7NZE.Y`7!HR:23F0,@<%:%GIM<JME#1Q1/J
M9"0T:)0J`DYE!P!YXGT\@X].%]WRX-5.:G=-U+Z;Z:"Y5U1-+(X3?S:CA#40
MNP9-GE:B:J<7(QRV>S%,<O=E7,J35(PDX,-&(O;ZL>S1>[1:&R7.@KJJ]U22
M3SE].2\IW&@F8'1&PAK`@`S09XG^X#;:^O+*.JIH;;"K(H],HTA>\4$9[SW9
MN*E<E."'XS?#TQZW;?3.!&H>J;/T_P!82!G#?A5<^ZD:FQ#>^M$A71IE8,3>
M`1(L9TC<&$9!JM.<9E`5@1F0#%N%BQ;Z]29=JVTL-%44]XG8[R_4Z3F*TM#G
M.Z<C_"'*`1WB@]N-&V=H,O=8'"HBEM\3AU='4#D():!J8WB0BCAQQ4IJ\\'6
MBFY]-+S65,4?"*BM2*QA?FGI_&C%C&Z%2M*F":TI+"?\X=7":1]W6)BR%YCH
M!P5E$&F&)QEG9WLP+;?JMNBV7QM?<ZN6IM\D@ZT;D<-!.9C;D&.`*M#=()`#
M@1BHW?8]EK+8ZEHH&0U3&GIN"@ZAPUG,N!X'4I`5$.)Q<?3#Z_\`9C;/M.&W
M_P!WS'^Q'JV?COL[]S7?89^OB=?AE?\`]Y3?:=^KC.FK*,6)#*RJOQQWKK;T
MXQ-NT:OTV(6PMH'>,D;5LEF[B5+6\;XJB%-J(^L70IO>SDB<HT]8J0J%2L(S
M"QC$26:V]/155?4;VM-JK9)+FQB//0:0U@T'2'S!P#RT$E`'`-0$!2-NT51#
M31;=KJVF8VC<[NCJD$N.H+IC16@H,R02<URP$-*7C=0ZO+OBE(U%JYT_RN3/
M.3'IU;FYFN]L<4L*8U*(V8.[<=**G9F50XM;.H&:0G-4%\<W`0X^S;L*[AWN
M_;=JDNMRMM9'`WN@ET!!>X'0#HE+@"[(D#(8Q6K;C;O7,H:2KIWRNS(`E!TA
M-1&J,!0.`7/%Q2/PG^-)+2X*5-TQPQ8APS=-.L11A5[PFN0R2,'28%E%G`D:
M5X-6I@J,E%&`;L"VE<KRV1$9Y4=ZI;Y==/>@KY0[4O3RZ*?5Z7A(0HI&KGJU
M9XMXV5MH47DC2L(TIK_S%^MKXJN?9R1,L0?WMHJKFE+KMFH9!K&HB.O%;6%*
MH>J8GYDO5T?6HIH=E)+>D>W".4TICZMW"UY($I&B,&FXPA8+%D.,>NMK3NBM
MNEKI[E#;*M\<\+'AS70!I4!2T.FU`*J:LTXXA-=9::AK9:.2L@:^*1S4(E)"
M')2V,@E$5,EQU]OI^O4M<2Z&D:Z]/`8P^SBN9.ZH,1+4)DD]_BC!:35'U9AH
MZ0RN+,2MTS<P`"4+!(\'"R;C(@DYQ[/N5:ZNCJ3::WKLBD8#KI_"]T1</OTS
M+&\<\LN)QYMHZ<4SXA74_2<]CB-,O%H>`?NER#G?ESY8,6OZCVMZUS:OG<_4
M;IM9C7+4;;2P;/(IU-$[ZTY.F#F+IKNG35PO3)EZ+'X9A99YH`9#NA&+&,9]
M#-GW62+:=MC%%7.#:*$*V-FD]P9C]H"AY*!\F-M_H6/OE8_S-,%J9,BYRCO'
M(]PY_/AQ7TSU21Z'ZI]03V&RJ.LUT)HAN3-XJ\?7V0O\=*5SQJ"M4"P^PN/`
M;6]P`2$HPP@\0S18"`0,AQC.)KZYW&:IV_1Q="J@C\V2>HUK6N2,H.Z]RD<0
MHRSPX>FM)'#=:A_5@E=T`F@DD=X=K0@/L.+#;2M*OJ3KR76O:TK:X/7<$9U#
M_+96]&&@;69J39``:@_"<H]2>88::`LHDDLPX\X82RP"&((<\UV^WUEUK8[=
M;XW2ULSM+&-XN)Y=GM)*`#,E,5^JJJ>BIWU=6\,IXPKG'@!_U\YY86WCSE^*
M3.-OS&A7V_\`HZU\?\V8#MQZ=_PH]0OZ9+]N+_4PN?'&U?YQGV9/U,((\^FH
M&AM=;+H[=J,U`TT57K.EN>0-TRGKU84,*E2U6[1.*.B)B85=9J%:Q)'UD<R`
MQ?D6"AG'#)!C>*'GU7_2"S7?:<ESCNU'4^<<8&ED;8WZ``]X+G"5`7!WAXH`
M3Q&$'?M?07UE&^AJ(?+M$A#G%[=6;6E!HS`(X]N7(XGS@ND9PLN;1"N8-J'T
MM2&:SZ3,<-B#"GL:8)E#W)I*Y)F=C:2%"^M$J$@YP<E9901G&EE!$/&1"#C;
MGU8ZO<3*&EDK:NCKV4L,;GO=TV'2UH+G%!(3D`3D%Q/X+0ZIF93P5%*Z:1P:
MT:W9N)0#-B9G#*_Z;[R?_P#E*DO\94'\!](_XV[#_>U7\$_K89?PXW/]6#^(
M/T88=XS?"YK-T<W[-=05^H:@C46B.GF[&Z/.[1/!2=\;9K(XJ-L9GAIZ<QEG
M,)S.FRH--<`#`<41O@*VB,R'*9OKU/VQN6SQ6:SFIDJ)*V`N!CT-+&O5S2KN
M\I0!O`E">&&';6S+S9K@^X5XA;$RGD`(=J(<6H"$&29Y]G#$S!-!-BDHM2IU
M2:5E"I2'"E2H'8<_-,4*5&.,H4&&G5<(XTP\X8A"$/.1BSG.<YSG.?5T-WD:
M=+:"X!HR`Z<>0'+[W$T%O:0IJJ4D_P#>_P#4Q9W],S6L3@.FW42K:IM55@RA
M[O!N(?)#6;XZ/G!8FF",8XVS/)KPP1Q:0%&O<W0],'!`RLY5&[I@A8$`',?K
MI75%7>Z)LD51#`RE.ELK0WO&1VIS4<X9@,!S7(9=ME]-*:*GMM06/BDE=.%+
M"3D&A`5`.1+B,N9P]?4?JHT^Z18*CLK4?9[#54)<9`ABK<]/A+LMZC(7%.K5
MI&I`W,3<[.RU4-(@/.%PB!A*))&,>0@#G.)+9-OWG<=6:&R4[ZBJ:PO+6H$:
M"`22X@`*0,SF2`,\/-RNMOM$`J;C*V*`N#02I4GD``3R/+&'OUR_%)_MC0K_
M`.'VM_8'TU_A1ZA?TR7[<7^I@)\<;5_G&?9D_4Q";JFC+!J`U+W_`'D3J1TE
MMB:V[?GL_1H$L[L0HE.@D<A6KF_'"65<)46<8A,+&:$><B":(6/76=@GFL]B
MH[4:&XN--31QDF./BUH!X2IQX>S$*ND3+A<ZBN%32`33/>FI_`DI]#LP\GZ:
M.HH=!]4M]2@>H&BIQ)CJ111=A@E?29V>9$XH7.9M;T]R,),@CL7/"AC^(VG(
M-Y4M5G/4`Y,R4$..)*?7*XU-58*2G\G5Q0"J+G22-`:"&%K6]USLW:B0J>')
M>3QZ:T<,%UGE-1`^7H!H:QQ)(+@2<PW(:0,EX\N=CL^G$8K*#RZQ)H\((_$8
M/''F521[=#Q)V]L9F)`>XN"Q4<`H\T)1*=.+.P!9A@L_8``A9P'/-%'23U]7
M'14K2^IE>UC6C,ESB@`^<XL51/%2P/J)W!L+&ESB>``"DX_+FN&`HKAMNT+9
M<M4.F+G++L&83HPMSLZPG5P3%RA_7O"1"K<U%5@/7G-R-66GXH@AWL%8V!#C
M8''>UMJWVVW4]NCH*_1!"R/**,`Z&@$@"7)2"4]N.7ZRG%95RU;JJE661SLW
MO)[Q)X]/-,'AIT'*4^@R?ZAUUSZ8#8P\:J*AK*,6-B<2X;>A.C=:7>YSN+B6
M>WX5R=6ZN,KCAN$_*"P<%'DWB!"5L&)DW:UV[H;,REK_`##;?-*Z/0Q3JE@$
M;DZB$`,D"KEJ1,\;V6)PL,EP=-2])U5&QK]3D&EDI</`N9<S),T7EC3OF5\<
M\]I?6O;%ENU@TE"*PU&SJ3V76#E9=JIV!Y>U3@%J=I\WF-P8X88F,89.^#`6
M$6-T20PG=,-$$T6`/IEO6CNFUJ>ACAJI:^BB;%*(HBYK0%$975GJ:W\H.0RP
M3WEMV>BO4M2^2!E+4R.>PO>A)*%X1.3C^1..>,::39=>6BBXFJ\*"U5Z0&"8
MM[>N9%Z1VM](]1R2QQTR3ESC\B9E$8`6L0*A)BQ@&`92A.<6$PDP`P[?3-N*
MGM.Z+8ZU7>WW)],XAP(A+7-<.#FN#\B%/:",B",!K3+766L%=055&V8`@K("
M'`\01IX?G!S!QK#71KUUD^0",-5?6WJBT.0VL&U6E=55;U3;*^.QV2/:(9PT
M;K*E+NB?WU]Y+)H1$)#5?(DFEA-"3Q<;^%[:>T=L;/G=66Z@NLM>X$"66$.<
MUIXA@!:UJ\R!J(R5,L%KY?KS?XA3U=50LI05+&2$!Q'`N524Y!4YHN,P:1O%
MG>&L^SB*\IJSM/DG2M9K6NL23Q2R#)617<56N!2,Z1.C<2Q-_4#PA$+*5`6<
M%2M&#.`8P6$TTL]N/?\`:ML4/G;G!61N<HC:^+1U'@+I!U%/:XA&_*@(NT;6
MKKU4^7HI:=P"%[FOU:&D\2$S]@XG\I&EO+?IHAT*U5LU#UY:NG"#PO3-1%/4
MBSM4RMPJ/RIU4MT?-FT@ETECP&1Q*9Y#*9'-E:A4#!YHSL[IHQY&/.,`_3J^
MU-5M]UVK:>MEJJ^KFG)9#J8`7:&L:[4-36-8`,@G`9#!/=MLAANHH*>6F9#3
M01Q`.D1Q0:BYP0H7.<2<\^.,(4O%)O0-JP6Z*WU&:+D\]KA\*DL25R.SV:5M
M"!\3$GE(G$]@>X@I:URAN,/XZ81@,Y3JBRS@9"86`6&VYU%)>+?+:ZZBNAHY
MV:7AL3F$M/$:FO!"\"G$$@Y$X!44,]!5QUM-4T0J(G:FJ\.`/(H6H4XCL.?$
M8;3^LMY6/]N[0/\`_6O]@_4[_#+T]_I-W_\`M_U,-GQCNO\`GZ#_``?JX.>F
M+R;>2#4%J+I&BK.UDZ-YE6MP63&*XL2+5]V#B<OL&EJX+-*V^(C;X.4M*D!C
M&J/RF,+$')9@<#SG`0YSZ$W[8FR+-9:J[T%LN<==30.DC?)U.FV1@U,+UD33
MJ`7M&-ULW-N2X7&"AJJRC?332-8]K-&HM<4<&HU514PEC5/XZ9UI0O>>T?/;
MCTZQE=&'52IC!4VME,P2)]KUP7+<P:6+F<IE<PMQDD84Y:@1&3QF$F9&6/8(
M.<8J&W]Z4FX;1#=:2FK9&R-`?HA+FMD`'48':@NEV2IF,QA+NNW9[57R4,\U
M.TM/=U2(2PGNN(0HHS1<L';0=J;U,^.R2R][H/4OH=6,M@DM0)U!IY:.'V+2
M0]@(=R8\O-&WLK._MB]E$]J!%F(UI&#,#R`T(P9SCT)W=8K%O2".*[T-U$L)
M/3DCBTO;J34,W.:0[2%#FE.(0XWV&YW/;LCWT%30EDB:FN>K7(J'(`@A3P(]
MN.#UO:@=3GD"FS1+]06K'1V>VQ8I81":]B-Q"8:^AI;@9@Q>>TLIK&O4*W==
M@("SG!:H5+3"2BR\F;@,!]>NU;/8=G4KJ:S6^Y"21-<CX=4CTX*[4``.36@-
M4DHIQYWNX72_SB:X5='I:NEC9$8U>*!#F>9))3)<&KQD^&NT]7MNPJ=N<KIN
M3:7H%/6<^V)5"I\KD>'TMD4(7E773`41'T>5KP^I1%EJ#<&!3HTI@Q&&8-R2
M48+WWZF6_;=MEI(XZEE^FA=T6/C#=.I6B1RN*-:<P.+B`@12-NV=G55WJV3N
M?"ZUQR#J.:]51#H&04GGR`YJ@//>9#QI3VB=8=EV:JG-!P*FM0DWD4VJ15,I
MT@@&T1Q3<XR:&)(VC95A;>&%JW0"<C.,`*4(\E#+^]@X!7EZ9[YH[MMJ"@;%
M637.BB:R8,C,G:&O+BX+K`4\P5!Y$^F\=M5%#>):HO@CHZB0NCU.#.PN:B%-
M)*#M">U,+Z8G"X=']SQB^Z+U2Z/8[8<5)<T"14YVRVOK4X,SZEY)\8W5K<(F
M,I2W.J38$>09+.+$$(RQ@&'&?37?66S<EKDM%VH+D^BD()`A+2'-*M<"'Y$'
MY1R((P"MCJRT5K:^AJJ-M0Q1G(""#D006\#^7LQMC7'Y!M:&OB%H:QM+5!H7
M@U7$J4C@\5_4UKN,=9I>Z-YYYZ%9+5SRDD+Z\)D9AH!%H<J@M^#B"SLDY-!@
M>%;:FSMK[0JC7T%!=I;@00V2:(.<P'B&!I:UI/UDU(2%3+!N^;@O5^A%-555
M#'2\2R.0@.(YN)4GY%3FBXQCIF\:-WZM;(;ZWI*P*$GZ["E";*EL)L@<H#"X
MXH4;BV2/16&-K0E)T:4LTPD@Y8F,7&%<`C(CA!#EGON^;5MVA=6W6&LA8AT!
M\6G6Y,FM[Q*DH"0TZ05.6`MLVU6W:I%-0R4\CE&HM?JTCM.0'R`D+P&>+GOT
M@M/WZ:OZ=W$/Z9TCN/W+Y<KKWOU_VK[L;NYQ=SN/\'DN)O=O_NWC</[_`*Y0
M_$B\?''QGEKU:>E]'R_#H_9SU?O.^BY8N7PA;_AKX>^BFK7SZO'J?:Y?4[JI
MA@-^:;Z*U1P4ZM=0-71.U86:IYXEGE3=A4)M<L)SDH'9C<B1IW5@=RDRDPL"
MM$>0H"`8L8'C&<XRGV>]W:P58KK/424]4B:F%%'%'#@YJC@X$>S!^OMM!=(/
M+7")DL*JCAP/:#Q!]H(.)_K(^EST@R):H5UK=-UUJ4K>L+!-CCV[/&YM9,BW
MALC)E8E87,H_'^:!6N5.(P@S]X`A;!8L-#Z][DA8&UU+2SD,11JC)=]9R%P^
M9H;\N$&I]+[/(5IIIH@3P*.`'8%0_.2<<S57TO\`HFB@$IUJ6;=UNKBP.!:L
M@EW:*[8%7'/'EL/+0,"%<^)5+<FW0CSAT$4H-P(>2P`%@H/E</7G=-0HH(*6
MF;DF3I'#MS<0T@G_`+5`R4G/'[I/3"R19U4L\QSYA@]G`+E_>S_-A\NG[391
MNEBO6ZK:!K:-UI"V[?,Z:PI,X5.2LTX]2<Y/KNJ&H=WYS./5&"RH6'G&8P/=
M#G`,8#B1WB^7;<%8ZOO$[YZIW-QR`X(T!`T9#(`##W;[;0VJG%+01MCA'(<_
M:3Q)]I.%U7)X*O';?-L6'=-C5W.7">VC*G*9R]>WVA+FE$L?G80!K5"9M1K2
MTB$HP0,;"RPX#C_)Z=;9ZL[TM%NAM=%-$VCIXPQ@,3"0T<`20I^?"[6;&V]7
MU<E;41O-1*\N<0]P"GCERP-?Z='Q=?ZK[$_Q@G'\0];OQJW]_,0?P8_T8S_A
MWMC]U)_$=^G'G].CXNO]5]B?XP3C^(>OOQJW]_,0?P8_T8^_#O;'[J3^([].
M-$:6O#IH6T<W`UWI1T`E+18C,ROK"VN3_/9%*425#(DY25S&4V/"E0D+6C3E
M;@#PXP:6`8PASL&+&0M_]2]V;FMKK3=9HW43G-<0V-K"2W,9M`*+RX8(6O9]
MBL]8*^AC<*EK2`2XN"'CD>?MP?M6V@'29K?94K7J,J)BF+HUI,H8_.$0CX_8
M<:2"/&I$C8YHSC2O:9O&>8,8D@S#48C!9'DK(\8%@/MW>&XMJRF2RU+XHW%7
M1GO1N/:YCE:3[4!3)4QONU@M-[8&7&%KW`('#)[?D<,T]G#V81W._I8]+CNK
M`=7>HR[8,E$)X,4(WYJB$ZV&*A%B8R4)X$T4,3(6?&^$X)N%)ZP.0?C%9"+(
MZK2^OU_C:E914DKNZA:7LX>)0KU+N2(&]AY),_I;:GE:>HG8,\B&N^3DW(?.
M3VC!GI7Z:+0;73FRO=E/EK7DL;B4!JYDD3\FBD*<W5(H*.4*1,L63IGX#6N+
M+$4-">[JB\`,SG?W\!$$9=/7+=U;&Z*A93TC7$HYK2]X!X#4]6J..H,'Y,;*
M+TUL-,]LE2Z6=P103I:2/8W-#V%QP^ZN*TKZGX8R5U5D,C=?P6-IQIF*)Q)I
M1LC$UDFG&*3\)6]"420`Q2I.&::/.,C--&(8\Y%G.<R*NKJRY53ZVX2OFJWE
M7/>2YQY9D]@R'8,AA\IJ:GHX6T]*QL<#1DUH``^88Z/J`TV43JH@1E8ZA*QC
M-J08;DB>2V.2$*,X1.[>(0DCFUN+>H0NS0O+`,9>34J@D8R3!E"SDL8PBU6>
M^7;;]9Y^S3R4]7I+=34S!X@@@@CV$'-#Q`QX7"VT-U@\K<(FRP*J'D1S!"$'
MY#[,(&M'Z7?1])UBI;5]R715F%;J4IPUKLQ^?LS:T;1"4-;26O3,3P%48/.,
M%JEBY;PP8V9*'G8+%@H/7O<L#`ROIJ6H1J*-4;B[D2A<U.T-:U>T80:KTPL\
MKM5+--$">&3P!V!4/SDGY,??5?TONBR+90*+3M*[+:5)C';"U(G<F:O&!S3J
MN.%IP8B9$;D^I%C0686(1A+H`M2:7M$4$`LE>OQ7^O.Z*@%M!3TE."&H4=(X
M$(N;B&H>PM)`/$G/'ZIO3"R1$&IEGE(7)0P'LX!5':#GV)EA\.G73%1.D^NT
M%6Z?ZWCU<Q!%^*>F9TV1N3VN$8<<<[21\5"/=Y`ZG'*3!9/5G&B!@>0`W"\!
M!B27J_7;<-::^\3OGJ3S)R:.QK1DT9<`!VG//#W;K906FG%+;XVQPCLXD]I/
M$GVDX//H1C?B)SQ.:C_(%?6J&(.DRDNO:ZZG9=13W%95/VBS2#=.L29D2$2K
MMJS8XMACFM<^2`L)/,P4Z(P\%0GQ@.,XSD74?J'9=G6BPRQTK+12W%U&US(S
M$14N<3XHG!X`5"!W'9@XBVU+C?Z^YQOF=7S4@J"USP_]B`.3VZ22G]X<1@0Z
MH/*GK'TYZSO)U#1VE<DDJ-R?K<H2KL(Y2:G0:?K(>2%3I5,G@JA1C*9G4M70
MEW$2EXP<>A`8(H6!$[HB5BV!MJ];9L-2*>E9<@R&HE5N=1$#IF;)S<#J;GP!
M1>.6.Y[IO%NO-TA,LSJ0NDB8CLHGD+&YO8B'+B1PX899<UM:PI5X'-*^KRG+
M^M93>%3LT&LRWY%&Y<O4/EF1=*].+'/F2?*FU>6<M3MJD:52X9R2<L2D(SP8
M"7@1HL(MLMNVX/5JX;;N='3BUU+I(H6N8`V)Y`=&Z,$9*%#<PTDCCEAEK:R[
MR[%I+Q1U$IK8FL?(6N*O:I#P]#RR)YA#[<%;Q=ZN[I\D>O[4EJ38['G$7T@4
M_6]>P&)40J?W1.PN]DRYEWE,V7Q<M88WDG$=!>#`X&,\.0J4@A`">7D>!V_=
MN6W9.T:"QS01/W'4RR2/G#1J$;791AZ+])G9P=FA3&O;%WK-QWZIN3)'MM$,
M;&-B4H7N'B+53D[\W,8%&D'5/J3F.B_SCS257E94AEU&VWJ4:*:DCI(U"IWK
M%KC4+>EL>;X8K&'?9TK,K(`8G"#;@L8<9QZ([BL%DIMU;6I:>D@935=/2F9H
M:`V4O<T.+QS+@<^W&6TW2Y36.]3RSR.F@EG$;B<V!H*!O8G+&?O`7JQUX:A-
M1-AN<ON"Y[]T_P`(HY(.TDEJ2Z-O:MGN)8FY^.IZ^2FEC>34SXL0KB4V"QD8
MY;[5QG$+)`(QZN[?VE9[+!'34]+27F6J/2,+'-#H51QD/#N@@E5S\(13@=L.
MZWVX7&1\LL\]O9!W^HX%).(#1QS0IPR\7+'3M--5WQY38+JYUNW/Y(+:TV3J
MEK0G++`()'YJKA,`H!MAB+N:/F6I'T+DA3-;&A5&8*'R9I@A\BJ.,4*5`AE%
MZKW<;3L&LM^U;99*:NI*F",R2.8))*@O[KNDX@DN/M`\30&M`4^-MI*[=-/5
MWNLN4U-/#*X-8':61!N8UA0@'L["5)R!`GOD4U:6+]/\VZB\VC-8%?<0OZ.T
MRKNF'+3XP_6`P,$G(1=TEK4R%&4/+PU+@(7`XG`RU:U"<;G(1C&47CH]F;=H
M_6%]E\O%+9Y*1\P@>-38W.8NE"3P(U-!X!P'`*=%3N&[5&P&W'JOCKVSMCZC
M3I+P')J5.8*'M()]F/@\>7D[U3:@O)SI5IO4+,["K)5%*`FM1795<C<@Q^*6
M=>D=;)>],$_40D*=*6W2J0L"YNR).(.,Y5HQF$[21E8Q^]Y[$L%GV)7W.RQ0
MSMDK8YH)6C4^*G=H#H]:E6-<'9]A`.:X_FWMS72X;FI:.XODB<VG=')&2C7R
MC40[3R<6IEV@IDF.F:HO,1=^F_R\7C(%-FSZ6:3:F.DE)>T$?(5X@)D^25$X
M$M@W=I<A)<]=:[H*$8O6HC251S6B-RFR87@7$U6'TUM5[].:2!L$,>XZ@,GZ
MSB.ITS,%0A>Z8?"UP(#G!4/#PN>[ZZW;NGD,LCK3%JCZ8\.L1E%!YB3B0A+1
ME[=7>"'7%?NH73GKKCMWW-8-FV55B(N?Q*12E5U-5%8_,Z_D64;:TR@P`%YP
MF^3Q-284F-R+"4.`C+SL-%C"[ZL[7LUHO=IFM-+#!0U!T/:T('N9(U26<,VN
M"D<>!X8*[%O5PK[;71UTTDM3%WFEQ4M#F'(.XY.!0<N6`KX';ZUUW[:]83:Z
M'O7+:M5N+=9Z-UM^8V.G>=,*]Q:61X2-S0JC2B']2%(VMU*`FP;UC=ZC@(L%
MXQC<]%O5JT[2M%NJ*6UMM-/<&OB2%D1;5`%P)(=K321GX/#SYXQ;%KK[75<4
MU::Z6D+7K(YZP$@%!ITJH.7BXX6%)_,!KQK.`ZWJT?[CN9\;[&M6:1:@+B#)
M`)9)34XK&V&=WD;%')&:5A<?&%U9'E(%#:4+:D&K(.!C=-.VO<'IQM*NK;57
M0TM*UT%/&ZHATJV9DL+@USF\-0E!<''BA'(86)=W7ZFIJZGDFF+9)7-BD7O1
MN9("X!W'269$<E!YG#I/*K9FI:%:-_&;?M8ZM+^J^56F7ITIZPT$&EQ;8US$
MVT:]32=_L-_%A,-6X3=*O;<A*-$/@B`H,WP9SLSZF'I]0V.JW'?;17VZCG@I
MQ4S1F1BEG2D+6QMS01D',<<@F'7=-3<HK3;*ZEJZB*28PQO#7(':V:B\]KE&
M7RG&U_*!J.E?C.\9Q,48+[F\VU"2SE:<JZW;*=&Y?:#Z]OK@K<Y-.W-S)2I4
M`'.&P\:@92SE\$ICBTN]@.<X'A7V'9:??.^34S4<45FB!FEAB!$36M`#(P%)
M1[T4*I!=\F#&Y[C+MK;0ACJ'ON#TC9(\@O))5SR<@K6KFF66!1]/3K2L74OI
MZNVO+QMUPMBYJ9M!<8.1225#EDG=H%*VT@YD<`/6^8@=F%MD#8XHDQR(8R@@
M++$+.,'%",(>LFV*.QWJEK+53"FME33CNM9H8)&GO!.(<6EKB#GG["F7T_O-
M1<K=/3ULQFK(93F7:G%I&17@0H(!'_R%4I\Y=9'Z,F;G^3EQ^[GZJ`:K]QN\
M5?=_MIV>)9F#=5W>-VSS?XG+;-S?^WU0_A3;7XG^[/(4WN[W!U>GH&CJZOO$
M^M[<*7OR\?!?G?-3><]Z:->HZM">%?J^S&*O%7VA^I30G*;>?^13GP.T_?+M
MWB['G;U?K7\M\]^W?YG\'<W/^3TU^H'F?@:LU>#R8\?0U?1X:>\GR9X"[5Z/
MQ+`GB\P?#U$Y\5R7Y<;.U!=K\7ZA/G?CYP?D93'5/=+WAY[G>[+)Z;V;T#\]
M[I<_N<ET?]W\IS7/?D^)Z5[-YC5LW3YQ?(S)TNBB:8UUZLNDG'7WM6G1WDP:
MN'23<.KRZ>9C77U.*O32F>M>&G)%U98<_P"/;HGZ"(=SV>Z)\;-1_,=7]P?:
MCEO[QN;]Q./_`'@]-V;W<'+?F]G'Y;[>'ZF.\>K^+O\`^GJ^>IN'3ZR_LTZ?
M^6O[M<N&KGARV]T_@+_)T>6F^OT_I^/Z:?73/BF!A],?T#X36IT'L+9\@7OJ
M'9_N9U/FNRH;PNZ/<C[W,<EPN3Z9^3Y79Q/S?,>B'KMUOBFGZW6_V;4U])$U
MO\'2Y*JZN\O#NZ<9?3+I^Y)>GT_]P5TZU\+?%KYIPTY)[5QE?13T/X*^?_E^
MU^6]Y]4_4^3]P^3XG8K[QNM]3_>O%W=O$Z1^'N[>%][9Z.;GZOQ?M!>IJ\M2
M(O37QM\*9?;^?`VS:/<%^32G6G7Q)X7<5S^SEV8`_@([=^>$*Z#V1S?P&9.K
M?'#W2Z%P.N-?*_*#W*_<G=W"Y;=Z+^9ZMR7,?B<]Z)^K?7^$7];JZ?>SD\ST
MM7`KY7I=[I\?'EIUIEHQBV'T_?S>GH7R+5Z6M.(^^UY:N'AS72OTL*E\@7MM
M\I=1O)_%CGN[9/W+\0?EA[-]9[G?>8]XNN?R]W%PMSJ':7[AZAS'`_$XWJD;
M-\][@HM7O#1TVZ?.>4ZVG0U.CI[VGZO6_::=*Y)A0O\`Y;WI4IY75K=J\OU^
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MU[)\/]4.O.I=X>\'<_-]-U&;G;_1_P`SO[-_K?2OR7(;N_\`;PO3KM/KZMOZ
M?-+\/O31T=*+3^)?\&KO:OGPNWWI:;HO0_\`:M75U-7"7@G^/3EI^;#;_'+V
MU\U_*-TCV@V_$B!<U\7_`'9^.W"]M(WMZSWO]WO?<W>2Y/\`&X'5-GWM_P!3
MK>O7^&=O]3S/_L)$\UTO,_>NX:/H?6U9+T^6&W;O2]\771T?]JS[GJ=+P#CJ
M^EV)RU86E]/)VI\\*HZ7Q>>[)M#<Z![S]G[G8C]O\/O'^7>;W-N_Q/Q.+_F_
M?V>GWUF\Q\(U/431U8O%T-?WC?J=Y/DY>S"QZ>]+W]%I75H?PZFGPN^MW<=#
MG_9_Z:>LKFOCKRWZI,_X?>GOGWEUCMUO_P!%O2/WOW%RO$ZSQ?W%TS;_`-8X
M'K31^9^.[9I\[J]P1>#H:$U'[U<M*IH3]IJ]BX\*CH_#%8OET]Z/\75U*@^[
M3/5];Z.GVIAJGD+Z!^DSXB>-V;T_WHTI\A_I*Z%Q>P)!PND<C_,_,;-N[U+\
M+>WN)_T?4^V;UOQ!W(G5U^4JU^ZU?>-\2]W[.?9AKO\`T_A:S^#3UX$\:>$\
M.?VLL&[SX]#^07C0ZQ[4<3W7F/)_*7W$^)G'V1;A>YG8WY;J7,;G#Y_\ORG$
MXGX'%]"?27J^Y+YT_,)T(U\KT_-_3^[UYI_=SU(F:8V[[T>\;;KZ2]5Z=?7T
M.`\>G)?ER1>6!CXMND?K`:L.F?&3GOC6Q=>^!??'QPX_/1#@=>[N_ESG>#PN
M#VW^7ZEQN+^+Q_6_?_4_#FV]3S^CSK]/G^GYG@[PZ.\G%>KGI1,DQEVOH^+:
MO3Y;5Y9J^5U='B..K+[&2JN:XE&)['VN'_AOB>\S/M__`$-V?O=:?-G[?RO<
G6]M_9]W<_;]FSUT,?-(/&GEC_+Z^#?GTXE`Z&?A^^'[W3Q/Y\?_9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
