FARMINGDALE, N.Y., March 26, 2014 /PRNewswire/ -- Cemtrex, Inc. (OTC: CTEI) today announced that their wholly owned subsidiary, ROB Cemtrex GmbH (www.robcemtrex.com), received an order totaling $2.8 million for electronic controllers used by a German industrial original equipment manufacturer. Deliveries of the ordered devices are expected to begin in the fourth quarter of 2014 and continue over the next two years. This customer, while being located in Europe, sells its products worldwide, including the US and emerging markets.
ROB Cemtrex's CEO, Saagar Govil, said, "The business development team at ROB Cemtrex is doing an outstanding job in continuing to grow the company. We see strong demand in the industrial electronics industry and we are aggressively pursuing opportunities in that market."
According to one recent report, the industrial electronics industry is set to witness a value of US$321 billion by 2018 primarily supported by application sectors: semiconductor capital equipment, test and measuring (T&M) instruments, automation systems and process control instrumentation. Geographical analysis shows the highest Compounded Annual Growth Rate (CAGR) of 17.0% is foreseen from the Asia-Pacific region during the analysis period 2011-2018. In terms of CAGR, Europe closely tracks North America, with a rate of 15%.
Cemtrex is a diversified technology company offering a range of products, systems and services to address the needs of a wide variety of industries around the world. Cemtrex through its wholly owned subsidiary ROB Cemtrex GmbH provides electronic manufacturing services, which includes printed circuit board assemblies and completely assembled electronic products. The Company through its Monitoring Instruments and Products (MIP) division manufactures sells, and services instruments, software and systems for monitoring emissions of Greenhouse gases, hazardous gases, particulate and other regulated pollutants used in emissions trading globally. Cemtrex also provides Green Demand Control Ventilation (DCV) systems for commercial buildings to provide energy efficiency of up to 40% on existing and new installations. Cemtrex's MIP division also markets a range of crude oil and natural gas analyzers. The Company sells air filtration and environmental control products through its subsidiary Griffin Filters LLC.
Saagar Govil, CEO
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SOURCE Cemtrex, Inc.