C.E.C. Industries Corp., 350 W. 300 South, has completed the sale of the assets and business of its wholly owned subsidiary, Custom Equipment Corp., a move that was announced in November.
The acquiring company will provide financing to move ahead into the water treatment industry with Custom's carbon regeneration technology. C.E.C. has received a promissory note and an equity interest in the acquiring company, which will retain the name of Custom Equipment Corp.Company officials said a significant decline in Custom's metallurgical business caused an operating loss for the nine months ending Dec. 31 in excess of $300,000.