CECO Environmental Corp. (CECO) shares climbed 10.33 percent, gaining $8.32 to $88.85 on Tuesday after the company provided a positive update on its recently completed acquisition of Thermon Group Holdings.
The stock is currently trading at $88.85, compared with its previous close of $80.53 on the Nasdaq. During the session, it opened at $86.52 and traded between $83.54 and $90.25. Trading volume reached 545,026 shares.
Management said the initial integration phase is progressing as planned and is already delivering benefits, including the early capture of cost and growth synergies. Chief Executive Officer Todd Gleason stated that the company remains confident in its ability to generate $40 million or more in cost synergies from the transaction.
CECO Environmental shares have traded between $26.32 and $92.00 over the past 52 weeks.
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