Brooklyn, NY, Dec. 09, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, today announced it has been awarded two project contracts totaling $6.7 million through its Advanced Industrial Services (“AIS”) subsidiary. The contracts are for upgrades at the Clearwater Road Wastewater Treatment Facility in Derry Township, Pennsylvania, managed through the Derry Township Municipal Authority (DTMA).
The Clearwater Road Wastewater Treatment Facility, operational since 1977, has a treatment capacity of 5.02 million gallons per day. The AIS contracts encompass a general contract and HVAC contract for the addition of a new owner-supplied gasification-drying process and ancillary processes to support the new gasification-drying process. This process is integral to the facility’s innovative biosolids management program, which converts residual solids from wastewater into an exceptional quality granular fertilizer.
The project is expected to be completed by the calendar year end of 2025.
“Across the country, more than 16,000 wastewater treatment plants are approaching the end of their lifespans and in need of upgrades,” said Saagar Govil, Chairman and CEO of Cemtrex. “Furthermore, many municipalities are implementing biosolids programs that recycle nutrients from wastewater into a high-quality fertilizer, providing environmental benefits such as reduced water use, capturing carbon dioxide, improving farm soil health – all while producing additional revenue. Taken together, cities and municipalities are primed for capital investments that replace and innovate on their current wastewater facilities. With AIS’s expertise and capabilities, we believe it is well positioned to build on its pipeline of opportunities in the wastewater market and attract additional multi-million-dollar infrastructure projects that build revenue growth.”
“This $6.7 million contract also highlights the success of AIS’s strategic entry into the wastewater infrastructure market through its acquisition of Heisey Mechanical in 2023,” Govil continued. “This acquisition significantly broadened AIS’s capabilities and expanded the markets we serve. It’s a testament to the value of the acquisition and AIS’s ability to leverage those strengths to drive growth. As we move forward, we continue to explore new acquisition opportunities that will enable us to expand into additional markets and further accelerate our growth trajectory.”
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com
For more information visit www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
