NEW YORK, February 13, 2017 /PRNewswire/ --
Industrial manufacturers are facing an environment of economic and political uncertainties. Global demand for manufactured products is growing at a very slow pace. Output is estimated to have increased only 3.1 percent in 2016 and projected to increase about 3.4 percent in 2017, according to the International Monetary Fund. A PWC research report indicates that in the slow growth environment productivity gains are paramount, and that plays for the benefit of manufacturers. The report claims that industrial manufacturers can best serve their customers and themselves by designing tools and equipment that improve the efficiency, costs, and performance of factories and other capital projects. The industry profits from innovation strategies that build upon advanced manufacturing concepts and the potential of the industrial Internet. Cemtrex Inc. (NASDAQ: CETX), AMETEK Inc. (NYSE: AME), Raytheon Company (NYSE: RTN), Illinois Tool Works Inc. (NYSE: ITW), 3M Company (NYSE: MMM)
In order for Industrial manufacturers to accomplish success a focus on developing technology platforms is needed. In a recent PwC survey, only 30 percent of U.S.-based industrial manufacturing senior executives said that their companies were planning to increase spending on information technology in the subsequent 12 months, raising concerns that the remaining companies are likely to fall behind.
Cemtrex Inc. (NASDAQ: CETX) is a global, diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges and is rapidly growing through acquisitions. Cemtrex provides: manufacturing services of advanced custom engineered electronics, industrial contracting services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally.
Earlier this morning, Cemtrex Inc. announced that it, "will be presenting at Source Capital Group's Disruptive Growth & Healthcare Conference on Wednesday, February 15, 2017 at 10:45 AM EST. Saagar Govil, Chairman and CEO of Cemtrex will be giving the presentation and meeting with investors. The conference will be held at Convene in New York, New York."
Last week Cemtrex also announced that, "first quarter consolidated results of operations for the three months ended December 31, 2016. First Quarter Highlights: Earnings per share for the three months ended December 31, 2016 increased by 56% to $.14 from $.09 for the three months ended December 31, 2015. Net Income for the three months ended December 31, 2016 increased by 103% to $1,405,693 from $692,395 for the three months ended December 31, 2015. Net sales for the three months ended December 31, 2016 increased by 121% to $29,397,257 from $13,314,693 for the three months ended December 31, 2015. EBITDA was up 138% to $2,646,181 in the three months period ended December 31, 2016 compared to EBITDA of $1,112,527 in the same period in 2016.
Cemtrex's Chairman and CEO, Saagar Govil, commented on the results, "We are extremely pleased with our first quarter results and quite proud of what we have accomplished in the past twelve months. With our rights offering now complete, we plan to continue on our path of strong growth while executing accretive acquisitions in this fiscal year as well."
Manufacturer of electronic instruments and electromechanical devices, AMETEK Inc. (NYSE: AME) acquired a producer school intercoms and healthcare products, Rauland-Borg in a $340 million agreement. The company will now be a part of AMETEK's Electronic Instruments Group (EIG). EIG is the leader in advanced analytical, monitoring, calibrating, testing, and display instruments with annual sales amounting to $2.4 billion. According to Chief Executive Officer of AMETEK, David A. Zapico, Ametek views this acquisition as penetration into a new growth segment, the medical technology market. The agreement comes with potential growth opportunities through international expansions.
Raytheon Company (NYSE: RTN) develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity. Together with Utilidata, both companies has formed a strategic alliance to help power utilities proactively detect, defend against and respond to cyber threats. "With this alliance, Raytheon will expand our presence in the critical infrastructure market by delivering next-generation, defense-grade cybersecurity capabilities to power utilities," said President of Raytheon's Intelligence, Information and Services business, Dave Wajsgras.
Paslode, as part of Illinois Tool Works Inc. (NYSE: ITW) Residential Construction Division, recently introduced the PowerMaster™ line of framing tools have been trusted by framers of over 20 years. The PowerMaster™ Pro increases productivity with features such as the quick 2-step rear-load magazine and half a pound lighter tool weight to reduce fatigue. The PowerMaster™ engine, a "proven workhorse", ensures nails drive flush into the toughest lumber allowing farmers to maintain job-site momentum. "Paslode designs fastening systems that deliver on our promise to make framers' jobs easier," said Scott Sisney, Paslode Product Manager. "Not only did we improve day-to-day performance with the updates, we also kept the simplistic engine design for easy on-site maintenance and increased up time. It lasts and endures, which allows the job to be completed easier and faster."
3M Company (NYSE: MMM) operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. It's Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems. Its Health Care segment serves markets that include medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, and food manufacturing and testing. It's Electronics and Energy segment serves customers in electronics and energy markets, including solutions for electronic devices; electrical products; telecommunications networks, and power generation and distribution. Its Consumer segment serves markets that include consumer retail, office business to business, home improvement, drug and pharmacy retail, and other markets.
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