Cemtrex Sees Increased Demand from IoT and Wearable Electronics Markets
March 01 2018 - 8:45AM
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), today provided an update
on its Electronics Manufacturing Services (EMS) business unit, ROB
Cemtrex (www.robcemtrex.com). The company continues to see strong
incoming orders and new customer acquisition.
The Company has received new orders in a number of fast growing
industries including electronic medical devices, internet of things
(IoT), and wearable technology. The Company’s backlog from
electronic medical device sales alone stands at $12.6 million, the
highest level in the Cemtrex’s history. The Company believes the
outlook for demand in the electronic medical device market remains
robust.
Cemtrex also received a new order for approximately $400,000 to
manufacture electronic components for an innovative IoT, “Alexa”
enabled, home appliance manufactured by a newly acquired
billion-dollar European customer, Blanc & Fischer. The Company
is also seeing demand from its wearable customers expected to
increase almost 66% this year in 2018 compared to 2017.
Cemtrex Chairman and CEO, Saagar Govil, said, “We are pleased
with the continued progress we are making in our EMS business. IoT
and wearable demand continues to drive innovation and enable new
products across many different categories and will become an
important segment for us in the coming years. We remain optimistic
about the long term growth potential of this business across the
different markets we are competing in and continue to win new
sustainable business. Additionally we are looking forward to
unveiling our own IoT flagship product, a smart desk, this upcoming
May.”
The Company completed the consolidation of its two German
factories while leaving a smaller team to service an important
customer. For more information on the planned release of the smart
desk, please visit www.cemtrexat.com and sign up to get
updates.
About CemtrexCemtrex, Inc. (NASDAQ:CETX) is a
world leading multi-industry company that provides a wide array of
solutions to meet today's technology challenges. Cemtrex provides
manufacturing services of advanced custom engineered electronics,
extensive industrial services, integrated hardware and software
solutions, monitoring instruments for industrial processes and
environmental compliance, and systems for controlling particulates
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
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