Cemtrex Reports Record Month of New Incoming Orders with Over $21 Million in Orders Received in April 2017
Farmingdale, NY, May 17, 2017 (GLOBE NEWSWIRE) -- 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
Released May 17, 2017