Cemtrex Signs Distribution Agreement with SensEvolution®, Expanding Oil and Gas Analyzer Portfolio as North American Oil Production Continues to Thrive
FARMINGDALE, N.Y., Sept. 19, 2013 /PRNewswire/ -- Cemtrex (OTC: CTEI) announced it signed a distribution agreement for process oil and gas analyzer systems, in the U.S. market, with SensEvolution® a division of BAGGI®. This signing comes at a favorable time as the U.S. continues to expand its domestic oil production.
Increasing production of crude oil from shale deposits in the U.S. and oil sands in Canada offers North American petroleum refiners opportunities to access cost-advantaged feedstock. However, shifting product demand and hurdles in transportation logistics, along with technical issues associated with the properties of the crude from those areas, present challenges as refiners optimize their product mix.
"Most refineries in the U.S. were not designed with these new reserves in mind and thus we anticipate they will increase capital expenditures on new technologies and analyzers to handle the vast amount of gas and oil headed their way," said Saagar Govil, CEO of Cemtrex, Inc. "We can now offer more analyzers designed to handle the wide variations in the characteristics of the oil to be processed, offering a very cost-effective solution. As a result we believe we are well positioned to take advantage of this multimillion dollar opportunity moving forward."
The oil and gas analyzers are the results of over 60 years of industrial experience by BAGGI worldwide. SensEvolution® products are very powerful tools to control oil and gas processing applications and real-time monitoring of various properties like Sulfur, Calorific value, VOCs, Salt, Water, BTX, Aromatics and various chains of Hydrocarbons online in petroleum refining, natural gas processing and transmission, waste water treatment, Steel, Biogas, Petrochemicals, Metals, Lime / Cement, Food and other key industrial streams. They provide online real-time control to minimize down-stream equipment failures, improve product and feed stock quality and have very quick paybacks.
About Cemtrex, Inc.
Cemtrex, Inc. (www.cemtrex.com) is a worldwide market leader in manufacturing and selling the most advanced instruments for emissions monitoring, process analysis, instrumentation and controls for industrial applications and compliance with environmental regulations. Cemtrex also markets products for oil & gas markets including process analyzers for refinery applications to measure crude oil and natural gas properties and provide process optimization. Cemtrex through its wholly owned subsidiary, Griffin Filters (www.griffinfilters.com), provides air filtration and baghouse equipment, and environmental controls for a wide variety of industries including power plants, refineries, chemical, steel, glass, and cement plants.
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.
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SOURCE Cemtrex, Inc.
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