CECO ENVIRONMENTAL REPORTS RECORD 2001 PERFORMANCE

New York, April 03, 2002- CECO Environmental Corp. (NASDAQ - CECE) reported today record sales, operating income and EBITDA during its fiscal year ending December 31, 2001.

Sales for fiscal year 2001 were a record $91.0 million, up $1.2 million or 1.3% over year 2000 sales of $89.8 million.

Operating income rose to a record $3.0 million in 2001 or $0.38 per share, an increase of $1.0 million or 50% over year 2000 operating income of $2.0 million or $0.25 per share. 2001 results include a charge of $1,300,000 incurred in connection with a line of business that was discontinued in 2001.

2001 EBITDA (earnings before interest, taxes, depreciation and amortization) was $5.3 million or $0.67 per share compared with $4.2 million in 2000 or $0.51 per share. This $1.1 million increase represents a 27.9% gain over year 2000 results.

Loss before taxes in year 2001 was $141,000 or $0.02 per share, an improvement of nearly $900,000, from a loss before taxes in year 2000 of $1.0 million or $0.13 per share.

Net loss in 2001 was $264,000 or $0.03 per share versus $690,000 or $0.08 per share in 2000.

Bookings were a record level $96 million in 2001, an increase of $8 million or 9.2% versus 2000 bookings of $88 million.

December 31, 2001 backlog increased by 54% to $18.6 million, as compared to $12.1 million at year end 2000.

CECO reported that it sold the assets of Air Purator Corporation effective December 31, 2001. No gain or loss was recognized in 2001 in connection with this sale. Any gain associated with this transaction will be accounted for in 2002.

Chairman and CEO, Phillip DeZwirek stated, "2001 performance was greatly improved over 2000 results despite the general downturn in the economy. We look forward to the strong momentum we experienced in the second half of 2001 to continue in fiscal year 2002. We plan to carry forward our business strategy of providing turnkey system solutions to our customers and believe that this approach, accompanied by a reduction of debt from $26.4 million to $17.7 million, will yield stronger operating results collectively to the CECO group of companies."

CECO Environmental Corp. is North America’s largest independent air pollution control company. Through its five subsidiaries - Busch Company, CECO Filters, CECO Abatement Systems, kbd/Technic and Kirk & Blum – CECO provides a wide spectrum of air quality services and products including: industrial air filters, high performance filter fabrics, environmental maintenance, monitoring and management services, and air quality improvements systems. With over $90-million in annual revenue, CECO is a full-service provider to the steel, military, aluminum, automotive, aerospace, semiconductor, chemical, cement, metalworking, glass, foundry and virtually all industrial process industries.

Corporate Information
Phillip DeZwirek, CECO Environmental Corp.
www.cecoenviro.com
1-800-606-CECO

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’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.