Cemtrex Reports Record Month of New Incoming Orders with Over $21 Million in Orders Received in April 2017
May 17 2017 - 8:40AM
Cemtrex (Nasdaq: CETX, CETXP, CETXW), a world leading industrial
and manufacturing leader, announced today that it has received more
than $21 million in new orders during the month of April, including
contracts with PPG, Covanta, US Mint, Mitsubishi Heavy Industries
and Kelvion, just to name a few.
One of the orders Cemtrex secured during the period is a three
year agreement estimated to be worth $15 million for Cemtrex’s
electronics manufacturing services business in Germany. The order
is the largest single order ever placed with the Company. The
remaining orders were split approximately even between the IPS and
EMS segments and are expected to be executed over the next twelve
months.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “We are
experiencing a build out of customer activity as our sales and
marketing team ramps up their outreach. The activity we are
seeing in our sales pipeline validates our expanded investments in
sales and marketing activity over the past several months. Our plan
is to continue to make investments in these areas of our business
in order to take advantage of the additional bandwidth we have to
grow.”
“A great example of how our sales team is building relationships
with customers is a $15 million deal we just secured with an
existing customer operating in information technology
markets. While we have worked with this company previously,
this is the largest deal to date and it spans a three year period,
which far exceeds the commitment this customer has shown us in the
past. Our goal is to have our sales team build off these
types of customer wins in order to grow the business, while
establishing greater visibility for the business.”
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.
For further information, please contact:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
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