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Slide #4. Fuel Tech, Inc. — Cleveland Roll Forming Environmental Division, Inc. (also d/b/a PECO) and FGC Corporation (FGC)
Fuel Tech, Inc. (NASDAQ:FTEK)
Cleveland Roll Forming Environmental Division, Inc. (also d/b/a PECO) and FGC Corporation (FGC)
Fuel Tech, Inc. (NASDAQ:FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced that through stock purchase agreements with each of two companies, it has acquired Cleveland Roll Forming Environmental Division, Inc. (also d/b/a PECO) and FGC Corporation (FGC) for total cash consideration of $7.25 million and $1.0 million, respectively. The transactions with both privately held companies (collectively, PECO-FGC) closed earlier today. These acquisitions are expected to be immediately accretive to Fuel Tech.
Fuel Tech is a technology company engaged in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment and engineering services. Co. has two segments: Air Pollution Control Technology, which includes technologies to reduce Oxides of nitrogen emissions in flue gas from boilers, incinerators, furnaces and other stationary combustion sources; and FUEL CHEM®, which uses chemical processes in combination with Computational Fluid Dynamics and Chemical Kinetics Modeling boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 89% of all stocks covered)
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