Aug 06, 2020, 16:30 EST
Bronx, United States, Aug 06, 2020, 16:30 /Comserve / -- A leading global air quality and fluid handling technology company, CECO Environmental, announced a joint venture with the leading industrial damper products manufacturer, Mader Machine Co.
DALLAS, August 4, 2020: A leading global air quality and fluid handling technology company, CECO Environmental, announced a joint venture with the leading industrial damper products manufacturer, Mader Machine Co. The deal is aimed at combining the capabilities of the two companies' damper businesses for a greater competitive edge into the market.
With total assets worth USD 418,392 thousand (as on June 30, 2020), the most prominent fluid and air management technology company in the world, CECO Environmental's Effox-Flextor brings into the table a platform complimented and synergized by Mader's broad range of products. These airflow management products are suitable for both commercial and service sectors in the industry. As a result, they are well-equipped with the necessary technologies in their sprawling 45000 square-foot production plant in LaGrange, Ohio to cater to every type of requirement that a customer might have driven by numerous decision factors.
Merging the two firms is believed to solidify their foothold in the market, making them a force to reckon with for their competitors. They will be able to act as a consolidated entity with an amplified cost structure. CECO Environmental being the stronger entity in the merger, will be able to command 70% out of the total shares with a board presence of 50% out of the 4 positions. They are also supposed to draft more comprehensible financial statements and thus will demand a charge per annum for their administrative expertise that they bring to the table, details about which would be outlined in the partnership agreement. This strategic merger will be supervised by L. James, the CEO of Mader, and would oversee expanding the venture's developmental activities as well as to optimize the costs incurred by the integrated sector.
The goal of the merger is to facilitate an improved experience to their respective customers, one that enables them to make use of the wide presence and workforce previously offered individually by each of the companies. This is meant to create more imaginative service and product ideas, dependent on Mader and CECO's Effox-Flextor and their cumulative resources and reputation in the industry. The merger also aims to venture into various other markets in search of fresh opportunities that might benefit from the services and emphasize on clean air and the key strategies surrounding it. Mader is supposed to drive into unpredictable and competitive market environments and emerge with substantially cost-effective models that improve productivity.
CECO Environmental is a world leader in fluid handling, air quality management, manufacturing, and other specialty markets. Providing creative technologies and application expertise, CECO helps businesses expand their company with secure, cleaner, and more effective approaches that can preserve the natural climate. Moreover, CECO operates to enhance air quality, transform the carbon supply chain, and offer tailored solutions
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