FARMINGDALE, N.Y., Jan. 20, 2017 /PRNewswire/ -- Cemtrex
(NASDAQ: CETX), a world leading industrial and manufacturing solutions company, announced today that the company is planning to
set up a state of the art instruments & electronics manufacturing facility in India in order
to serve the growing demand for process instrumentation in Asia and other parts of the world.
Cemtrex believes that with access to low cost manufacturing the Company will be able to increase its market share, and maintain
its competitive advantage as a low cost provider in the market.
Cemtrex plans to establish this facility in the next 12 months. The Company is also looking forward to taking advantage of the
government incentives offered by the "Make in India" program which will offset some of the
upfront costs for the Company. The Indian government has announced scheme of incentives for manufacturing of electronics
including 25% capital subsidy for 10 years on capital expenditure, reimbursement of central and state duties, and income tax
exemptions on setting up in special economic zones, assistance in skill development etc.
Cemtrex's Chairman and CEO, Saagar Govil, commented, "This new manufacturing facility will allow us to improve our profit
margins on our IS 2500 emission monitor and increase market share through in-stock deliveries." Mr. Govil continued, "We have
long term plans of building a suite of products and this manufacturing plant will set the stage for our long term success in
markets globally."
About Cemtrex
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.
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. This release may contain Non-GAAP financial information
and is not calculated or presented in accordance with US GAAP. The Company believes that the presentation of non-GAAP financial
measures provides useful information to management and investors regarding underlying trends in its consolidated financial
condition and results of operations. The Company's management regularly uses these supplemental non-GAAP financial measures
internally to understand, manage, and evaluate the Company's business and make operating decisions.
For further information, please contact:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
142465@email4pr.com
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SOURCE Cemtrex Inc.