Cemtrex Receives $1.5M Order from New Attractive Market
March 21 2017 - 8:50AM
Cemtrex (Nasdaq: CETX, CETXP, CETXW), a world leading industrial
and manufacturing leader, announced today that through its
subsidiary, Advanced Industrial Services (AIS, www.ais-york.com),
it has received a new $1.45M contract from a new customer in the
Nonwoven fabric industry. A key strategy for Cemtrex and its
subsidiary AIS has been to diversify its customer base into new
markets in which it sees long term growth and capital investment
taking place.
One area where the Company sees future growth in domestic
markets is from the Nonwoven Fabric industry. The Nonwoven Fabric
industry products dominate many OEM manufacturer’s supply needs and
could be partially categorized as: Automotive (from seat upholstery
to headliners, floormats, and as an acoustical sound barrier),
Medical (Band-Aid’s, surgical masks – gowns – blankets,
incontinence products from babies to elders), Filtration Media,
Electronics, and Apparel, among many more.
Growth is certainly continuing in nonwovens, with the Healthcare
disposables market projected to record a 9.6% CAGR (compound annual
growth rate) during the 2015-2020 time period, and should easily
reach $10.6 billion globally by 2020. Surgical nonwoven products
had a 54.8% marketshare in 2014, should continue to lead the market
through 2020. The Filter Media Market is poised to grow at a CAGR
of around 7.6% over the next decade to reach approximately $8.95
billion by 2025. New technology always continues to emerge,
providing greater success ratios and market-range options.
In mid-March, AIS was awarded a $1.45m contract from Fitesa,
South Carolina to relocate a product manufacturing line into their
new nearby facility. Fitesa specializes in products such as: Baby
Care, Feminine Hygiene, Adult Incontinence, and Medical &
Industrial Specialties.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “This
project will start onsite in late March and continue through much
of the summer months, encompassing all disciplines:
Rigging/Millwrighting, Optical Alignment, Process Piping,
Electrical, Transportation, and Fabrication with one single-source
entity. We are proud to partner with Fitesa on this important
project providing a solution to their manufacturing needs.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a world leading diversified
industrial and manufacturing company that provides a wide array of
solutions to meet today's technology challenges. Cemtrex provides
manufacturing services of advanced custom engineered electronics,
industrial services, monitoring instruments for industrial
processes and environmental compliance, and systems for controlling
particulates, hazardous gases, emissions of Greenhouse gases, and
other regulated pollutants used in emissions 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.
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
Cemtrex (NASDAQ:CETX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cemtrex (NASDAQ:CETX)
Historical Stock Chart
From Apr 2023 to Apr 2024