Cemtrex Experiences Strong Growth from Packaging and Related Industries
October 13 2016 - 9:00AM
Cemtrex Inc. (Nasdaq: CETX), a world leading industrial and
manufacturing solutions company, announced today that, through its
subsidiary, Advanced Industrial Services Inc. (“AIS”,
www.ais-york.com), it has received new orders with several marquee
customers in packaging and packaging OEMs in recent months. In
calendar 2016, the Company is now on pace to double its packaging
industry related revenues from 2014 when annual sales derived from
the industry were just shy of $3,000,000.
AIS provides industrial contracting services for various
packaging applications and companies involved in: packaging
handling equipment, corrugated manufacturing equipment, cardboard
box manufacturing, plastic laminates and film printing equipment,
food packaging, cartons and trays, glues and adhesives, label
printing, among others. The global packaging market was estimated
at $839 billion in 2015 and is set to reach $1.1 trillion by 2024
with AAGR of 5% according to one recent study by All4pack. The
most developed economies are the highest users and producers of
packaging but recent trends suggest that emerging economies will
see increases over the next decade.
Cemtrex’s CEO, Saagar Govil, commented, “We are focused on
growing our industrial products and services operations,
particularly in the United States, and we see the recent increase
in demand towards the packaging industry as an indicator that we
are well positioned for long term growth. The economy in the US is
evolving as consumer behavior changes with more people ordering all
their essentials online. For example it is estimated Amazon now
ships over 2.5 million packages per day and you can see the effect
that it is having on box retailers going out of business
everywhere.”
AIS has received orders from several Fortune 500 companies in
the industry. The Company offers services such as rigging,
millwrighting, electrical, piping, and other turn-key project
management services that are essential to industrial companies
operating in the packaging industry.
Saagar Govil continued, “Our team at AIS has done an excellent
job of taking advantage of this changing “new economy” due to their
vast 30 year experience in servicing industrial OEMs. They are able
to consistently offer superior workmanship, excellent customer
service, and a high degree of reliability. We are looking forward
to continued growth in these areas over the next several
years.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a global, diversified industrial
and manufacturing solutions company that provides a wide array of
products and services to meet today's technology challenges and is
rapidly growing through acquisitions. Cemtrex provides:
manufacturing services of advanced custom engineered electronics,
industrial maintenance 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.
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
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