Cemtrex’s Advanced Industrial Services Secures $4.5 million Contract
01 Oktober 2024 - 2:30PM
- Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security
technology and industrial services company, today announced it has
received a $4.5 million contract through its Advanced Industrial
Services (“AIS”) subsidiary underscoring the Company’s strong
market position and optimistic growth outlook. The contract award
is for both Phase 1 and Phase 2 of the Department of General
Services’ Elizabethtown Training Academy project.
Phase 1 of the project involves the complete
renovation of the HVAC systems at the academy, while Phase 2 will
focus on the renovation of the Boiler Plant and the Domestic/Fire
Protection piping. These updates are expected to significantly
enhance the facility’s energy efficiency, safety, and operational
capabilities. The project is expected to be completed in the
Company’s Fiscal Year 2025.
“This contract award reaffirms AIS’s optimistic
growth outlook,” said Saagar Govil, Chairman and CEO of Cemtrex.
“The company’s ability to secure this project is a direct result of
the strategic acquisition, Heisey Mechanical, completed in 2023,
which has expanded AIS’s capacity and capabilities. We are now
beginning to see the benefits of that transaction, with contract
awards like this one marking the early returns. AIS sees continued
opportunity to pursue and expand into similar large-scale
infrastructure projects in the future. We also continue to explore
additional acquisition opportunities that can build on and
accelerate our growth further.”
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two
operating subsidiaries: Vicon Industries Inc and Advanced
Industrial Services Inc.
Vicon Industries, a subsidiary
of Cemtrex Inc., is a global leader in advanced security and
surveillance technology to safeguard businesses, schools,
municipalities, hospitals and cities. Since 1967, Vicon delivers
mission-critical security surveillance systems, specializing in
engineering complete security solutions that simplify deployment,
operation and ongoing maintenance. Vicon provides security
solutions for some of the largest municipalities and businesses in
the U.S. and around the world, offering a wide range of
cutting-edge and compliant security technologies, from AI-driven
video analytics to fully integrated access control solutions. For
more information visit www.vicon-security.com
AIS – Advanced Industrial
Services, a subsidiary of Cemtrex, Inc., is a premier
provider of industrial contracting services including
millwrighting, rigging, piping, electrical, welding. AIS Installs
high precision equipment in a wide variety of industrial markets
including automotive, printing & graphics, industrial
automation, packaging, and chemicals. AIS owns and operates a
modern fleet of custom designed specialty equipment to assure safe
and quick installation of your production equipment. Our talented
staff participates in recurring instructional training, provided to
ensure that the most current industry methods are being utilized to
provide an efficient and safe working environment. For more
information visit www.ais-york.com
For more information visit www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements relating to the closing of
the offering, gross proceeds from the offering, our new product
offerings, expected use of proceeds, or any proposed fundraising
activities. These forward-looking statements are based on
management’s current expectations and are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those set forth in or implied by such forward
looking statements. Statements made herein are as of the date of
this press release and should not be relied upon as of any
subsequent date. These risks and uncertainties are discussed under
the heading “Risk Factors” contained in our Form 10-K filed with
the Securities and Exchange Commission. All information in this
press release is as of the date of the release and we undertake no
duty to update this information unless required by law.
Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
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