FARMINGDALE, N.Y., Jan. 20, 2017 /PRNewswire/ -- Cemtrex
(NASDAQ: CETX), a world leading industrial and manufacturing
solutions company, announced today that the company is planning to
set up a state of the art instruments & electronics
manufacturing facility in India in
order to serve the growing demand for process instrumentation in
Asia and other parts of the world.
Cemtrex believes that with access to low cost manufacturing the
Company will be able to increase its market share, and maintain its
competitive advantage as a low cost provider in the market.
Cemtrex plans to establish this facility in the next 12 months.
The Company is also looking forward to taking advantage of the
government incentives offered by the "Make in India" program which will offset some of the
upfront costs for the Company. The Indian government has announced
scheme of incentives for manufacturing of electronics including 25%
capital subsidy for 10 years on capital expenditure, reimbursement
of central and state duties, and income tax exemptions on setting
up in special economic zones, assistance in skill development
etc.
Cemtrex's Chairman and CEO, Saagar Govil, commented, "This new
manufacturing facility will allow us to improve our profit margins
on our IS 2500 emission monitor and increase market share through
in-stock deliveries." Mr. Govil continued, "We have long term plans
of building a suite of products and this manufacturing plant will
set the stage for our long term success in markets globally."
About Cemtrex
Cemtrex, Inc. (NASDAQ: CETX) is a global, diversified industrial
and manufacturing company that provides a wide array of solutions
to meet today's technology challenges and is rapidly growing
through acquisitions. Cemtrex provides: manufacturing services of
advanced custom engineered electronics, industrial contracting
services, monitoring instruments for industrial processes and
environmental compliance, and equipment for controlling
particulates, hazardous pollutants, and Greenhouse gases used in
carbon trading globally.
www.cemtrex.com
Safe Harbor Statement
This press release contains forward-looking statements. Actual
results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. Statements made herein are as of the date of this
press release and should not be relied upon as of any subsequent
date. This release may contain Non-GAAP financial information and
is not calculated or presented in accordance with US GAAP. The
Company believes that the presentation of non-GAAP financial
measures provides useful information to management and investors
regarding underlying trends in its consolidated financial condition
and results of operations. The Company's management regularly uses
these supplemental non-GAAP financial measures internally to
understand, manage, and evaluate the Company's business and make
operating decisions.
For further information, please contact:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
142465@email4pr.com
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SOURCE Cemtrex Inc.