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Monday, April 10, 2017 8:52:01 AM
CETX - 3.10 Pre-market bid/ask moving up.
Cemtrex Receives Multi-million Dollar Order From New Customer
Farmingdale, NY , April 10, 2017 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXW, CETXP), a world leading industrial and manufacturing solutions company, announced today that it received a multi-million dollar order from a new customer, HBH GmbH . Cemtrex expects to execute this order over the next 18-month period.
The order from HBH will rely on Cemtrex’s expertise to build electronic components for high-power HF amplifiers to be used in the FRIB particle accelerator at Michigan State University . Founded in 1999, HBH GmbH is located in Stutensee, Germany , and provides solutions and engineering services in the field of communication, radar, high-frequency components as well as high power amplifiers for customers worldwide.
Particle accelerators find extensive use in the semiconductor industry in chip manufacturing and in hardening the surfaces of materials such as those used in artificial joints. Whether it’s medical or scientific research, consumer product development or national security, particle accelerators touch nearly every part of our daily lives.
With this new customer and other existing customer needs, Cemtrex’s management team is optimistic for meeting its organic growth targets over the next year, based on customers’ current purchasing volumes.
Cemtrex Chairman and CEO Saagar Govil (@SaagarGovil) commented, “We are excited to be working with HBH GmbH in supporting Michigan State University on this unique application. We believe that working on extremely complex high-tech electronics such as this validates our underlying strategy to focus on niche high-value markets. This strategy is expected to allow us to maintain our strong track record of growth and deliver long term value to our shareholders.”
Joachim Schrag , HBH project manufacturing lead, noted, “We are thrilled to have Cemtrex onboard with this project. We selected the company because we feel confident in their workmanship and ability to deliver high-quality product to us in a timely manner.”
Cemtrex Receives Multi-million Dollar Order From New Customer
Farmingdale, NY , April 10, 2017 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXW, CETXP), a world leading industrial and manufacturing solutions company, announced today that it received a multi-million dollar order from a new customer, HBH GmbH . Cemtrex expects to execute this order over the next 18-month period.
The order from HBH will rely on Cemtrex’s expertise to build electronic components for high-power HF amplifiers to be used in the FRIB particle accelerator at Michigan State University . Founded in 1999, HBH GmbH is located in Stutensee, Germany , and provides solutions and engineering services in the field of communication, radar, high-frequency components as well as high power amplifiers for customers worldwide.
Particle accelerators find extensive use in the semiconductor industry in chip manufacturing and in hardening the surfaces of materials such as those used in artificial joints. Whether it’s medical or scientific research, consumer product development or national security, particle accelerators touch nearly every part of our daily lives.
With this new customer and other existing customer needs, Cemtrex’s management team is optimistic for meeting its organic growth targets over the next year, based on customers’ current purchasing volumes.
Cemtrex Chairman and CEO Saagar Govil (@SaagarGovil) commented, “We are excited to be working with HBH GmbH in supporting Michigan State University on this unique application. We believe that working on extremely complex high-tech electronics such as this validates our underlying strategy to focus on niche high-value markets. This strategy is expected to allow us to maintain our strong track record of growth and deliver long term value to our shareholders.”
Joachim Schrag , HBH project manufacturing lead, noted, “We are thrilled to have Cemtrex onboard with this project. We selected the company because we feel confident in their workmanship and ability to deliver high-quality product to us in a timely manner.”
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