Farmingdale, NY, Aug. 15, 2017 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading industrial and
manufacturing company, today announced the appointment of Joe Novelli to VP of Cemtrex Advanced Technologies Inc., to pursue
the development and commercialization of proprietary and collaborative Internet of Things (“IoT”) and wearable technology
products.
Cemtrex’s Chairman and CEO Saagar Govil commented, “Joe provides us with a deep skillset in product development and commercial
market experience that we need in order to successfully bring the technologies our team has envisioned to fruition. He
has a proven track record of bringing cutting edge products to market effectively for some of the leading companies in the consumer
technology market. I am confident that with Joe’s guidance, we are on the right path to successfully launch our proprietary
technologies into the market.”
For more than 20 years, Novelli has held numerous positions at Sony Electronics and Sharp as a developer of new products and
market opportunities for a broad line of electronic products. Prior to joining Cemtrex, Novelli was VP of Solutions Planning for
Sony’s Digital Paper Solutions division. Under his leadership, Sony developed and launched an advanced new tablet called
Digital Paper, offering a realistic paper like screen for reading and annotation of documents. Novelli was also VP of Strategic
Product Planning for Sony Audio products, as well as VP of Wireless Platform in Sony’s Digital Reading Business Division, where
he developed Sony’s flagship ebook reader and ebook service.
“It is exciting to join Cemtrex at this stage in the Company’s history, as the company looks to expand its activities to develop
proprietary technologies. The size of the Company will allow us to be nimble and aggressive when addressing opportunities and
challenges as they are presented,” stated Novelli. “I look forward to working with the team on developing some of the
product concepts they are already working on. The IoT and Wearable markets are rapidly growing areas and I believe Cemtrex is in an
ideal position to be competitive in such markets. The addressable markets for these products are significant, as they offer broad
commercial and consumer appeal.”
The Cemtrex Advanced Technology subsidiary is leveraging the Company’s existing design and engineering experience in developing
advanced electronic products for third parties to develop new products and solutions, both proprietary and in partnership with
other companies, for IoT and wearable applications. The Company plans to pursue collaborative partnerships with OEMs
that are looking to incorporate intelligence and connectivity into their everyday products such as: furniture, consumer wearables,
industrial safety wearables, and other consumer devices. Cemtrex will look to focus on developing systems, hardware solutions for
both consumer and industry applications, and software solutions.
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a world leading diversified industrial and manufacturing company that provides a wide array of
solutions to meet today's technology challenges. Cemtrex provides manufacturing services of advanced custom engineered electronics,
industrial services, monitoring instruments for industrial processes and environmental compliance, and systems for controlling
particulates, hazardous gases, emissions of Greenhouse gases, and other regulated pollutants. The Company also develops its own
proprietary IoT and wearable devices.
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.
Investor Relations Cemtrex, Inc. Phone: 631-756-9116 investors@cemtrex.com
