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HAUPPAUGE, NY - Advanced Industrial Services (AIS), a subsidiary of technology company Cemtrex Inc. (NASDAQ:CETX), has been awarded a $1.84 million contract to upgrade infrastructure at the City of Lancaster’s Advanced Wastewater Treatment Plant (AWWTP). The contract, representing over 60% of Cemtrex’s current market capitalization of $3.01 million, comes as the company reports ~13% revenue growth over the last twelve months. AIS is tasked with replacing mechanical and electrical systems, rehabilitating clarifier structures, and modernizing control systems for the facility.
The project, under Contract No. 2023-33-01, focuses on the South Primary Clarifier Upgrades Project and is expected to be completed within the 2025-2026 fiscal year. This initiative is part of a broader effort to address the aging wastewater infrastructure across the United States. According to the EPA’s Clean Watersheds Needs Survey, an estimated $630 billion is needed for upgrades over the next two decades.
Saagar Govil, Chairman and CEO of Cemtrex, expressed confidence in AIS’s ability to execute the high-stakes project with precision, noting the company’s growing momentum in public infrastructure projects. AIS has expanded its presence in the Northeast and Mid-Atlantic regions, establishing itself as a reliable partner for infrastructure modernization, particularly in wastewater treatment. According to InvestingPro analysis, analysts anticipate continued sales growth for Cemtrex in the current year, though the company faces challenges with cash burn rates.
Cemtrex Inc. operates across the Security and Industrial sectors, with its Security segment providing advanced surveillance solutions and its Industrial segment offering services like rigging and equipment installation. The company emphasizes innovation and strategic growth to enhance safety and efficiency for customers and shareholders. Trading at a Price/Book ratio of 0.46, InvestingPro analysis suggests the stock is currently undervalued, though investors should note the company’s significant debt burden. For deeper insights into Cemtrex’s financial health and growth prospects, access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
The information in this article is based on a press release statement from Cemtrex Inc.
In other recent news, Cemtrex Inc. has been granted an extension by Nasdaq to regain compliance with the stockholder’s equity requirement, which the company had previously fallen short of. This extension gives Cemtrex until August 20, 2025, to meet the necessary standards to avoid potential delisting. Additionally, Cemtrex has announced a dividend payment in shares for its Series 1 Preferred Stock shareholders, aligning with its semiannual obligation and reflecting its strategic fiscal policies.
In a significant business development, Vicon Industries, a subsidiary of Cemtrex, secured a $1 million contract with a major Saudi media firm. This contract marks Vicon’s first major deployment of its NEXT Modular Sensor System in the Middle East, enhancing its presence in the Gulf region. This expansion is part of Cemtrex’s broader growth strategy for 2025, focusing on innovation and global market penetration.
Furthermore, Cemtrex recently held its Annual Meeting of Shareholders, where four board members were elected, and Grassi Co. was ratified as the independent registered public accounting firm. These developments highlight Cemtrex’s ongoing efforts to strengthen its corporate governance and financial compliance.
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