Cemtrex Appoints Former Sony Product Development Executive as VP of Advanced Technologies Subsidiary
August 15 2017 - 8:15AM
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading
industrial and manufacturing company, today announced the
appointment of Joe Novelli to VP of Cemtrex Advanced Technologies
Inc., to pursue the development and commercialization of
proprietary and collaborative Internet of Things (“IoT”) and
wearable technology products.
Cemtrex’s Chairman and CEO Saagar Govil commented, “Joe provides
us with a deep skillset in product development and commercial
market experience that we need in order to successfully bring the
technologies our team has envisioned to fruition. He has
a proven track record of bringing cutting edge products to market
effectively for some of the leading companies in the consumer
technology market. I am confident that with Joe’s guidance, we are
on the right path to successfully launch our proprietary
technologies into the market.”
For more than 20 years, Novelli has held numerous positions at
Sony Electronics and Sharp as a developer of new products and
market opportunities for a broad line of electronic products. Prior
to joining Cemtrex, Novelli was VP of Solutions Planning for Sony’s
Digital Paper Solutions division. Under his leadership, Sony
developed and launched an advanced new tablet called Digital Paper,
offering a realistic paper like screen for reading and annotation
of documents. Novelli was also VP of Strategic Product Planning for
Sony Audio products, as well as VP of Wireless Platform in Sony’s
Digital Reading Business Division, where he developed Sony’s
flagship ebook reader and ebook service.
“It is exciting to join Cemtrex at this stage in the Company’s
history, as the company looks to expand its activities to develop
proprietary technologies. The size of the Company will allow
us to be nimble and aggressive when addressing opportunities and
challenges as they are presented,” stated Novelli. “I
look forward to working with the team on developing some of the
product concepts they are already working on. The IoT and Wearable
markets are rapidly growing areas and I believe Cemtrex is in an
ideal position to be competitive in such markets. The addressable
markets for these products are significant, as they offer broad
commercial and consumer appeal.”
The Cemtrex Advanced Technology subsidiary is leveraging the
Company’s existing design and engineering experience in developing
advanced electronic products for third parties to develop new
products and solutions, both proprietary and in partnership with
other companies, for IoT and wearable applications. The
Company plans to pursue collaborative partnerships with OEMs that
are looking to incorporate intelligence and connectivity into their
everyday products such as: furniture, consumer wearables,
industrial safety wearables, and other consumer devices. Cemtrex
will look to focus on developing systems, hardware solutions for
both consumer and industry applications, and software
solutions.
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. The Company also develops its own
proprietary IoT and wearable devices.
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
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