NEW YORK, September 26, 2016 /PRNewswire/ --
Industrial manufacturing companies still feel the burden of the 2008 financial crisis. For about a decade before the crisis industrial-manufacturing businesses had to adapt to new technologies, invest in equipment in order to improve factory performance, and achieving new global standards. After 2008 these companies were left with substantial liabilities and a global recession putting pressure on sluggish efforts in growth. Cemtrex Inc, 3M Co, General Electric, Lockheed Martin Corporation, Boeing Co.
A report by PWC indicates that industrial-manufacturing business is back to a similar environment at which it was before the crisis. Once again technological transformation is required to operate at new global standards - The Internet of Things, augmented reality, and 3D printing are all innovations that have already changed industrial-manufacturing technical operations.
As a result smaller companies like Cemtrex Inc have focused their attention to technical changes. Cemtrex is a diversified industrial and manufacturing company. The Company operates in a range of business segments and provides solutions to manufacturing industries. Through its Electronics Manufacturing Services group the company provides end-to-end electronic manufacturing services including product design and sustaining engineering services, systems integration, testing services and assembled electronic products.
Cemtrex Inc. has been very active in expanding their operations overseas. Earlier this month the company announced that it has fully integrated with the recently acquired Periscope, an electronics manufacturing company located in Paderborn, Germany. With the integration complete, Cemtrex secured a broader base and larger market share in the Eurozone and claims that it has become among the top 20 EMS companies in Germany.
Cemtrex Inc. Chairman and CEO, Saagar Govil, commented, "In a very short period of time, the combination of our existing German operation and Periscope has revealed tremendous synergies for us. ROB Cemtrex is now exceeding our earlier expectations, as evidenced by our record recent contract wins, including with a very large automotive industry supplier. Our opportunities in the Eurozone are bright and we have high expectations for our growing company." Shares of the company are up 148% from its 52-week low earlier in the year.
Illustration Photo: Augmented Reality Tour on observatory of World Trade Center (Credit: Marco Verch/Wikimedia Commons CC BY 2.0)