Cemtrex Inc. (CETX) Receives $1M Order for Security Technology System

Rhea-AI Summary

Cemtrex Inc. (CETX) has secured a $1 million order for a sophisticated video surveillance security system, including Valerus software and hardware, for a large correctional facility in the UK. The order will be fulfilled within the current quarter. This development showcases Cemtrex's capabilities in the security technology segment, reinforcing its position in the Internet of Things and AI markets. The specifics of the client remain confidential due to privacy agreements.

Positive

• Received a $1 million order for a state-of-the-art video surveillance system.
• Expected fulfillment of the order within the current quarter.

Negative

• None.

Brooklyn, NY, July 13, 2020 (GLOBE NEWSWIRE) --  – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading multi-industry technology company that is driving innovation in a wide range of commercial sectors such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV), today announced the Company received a $1 Million Order for a security technology system through its Advanced Technology Segment.

The Company’s new order was for a state-of-the-art video surveillance security system, including its Valerus software solution as well as cameras and related storage hardware, for a large correctional facility in the United Kingdom. The Company expects to fulfill this order within the current quarter. The details of the customer were not provided due to confidentiality agreements in place.

About Cemtrex

Cemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems.
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.

Press Contact for CETX:

For further information, please contact:

Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com

General Inquiries
sales@cemtrex.com

FAQ

What is the recent order announced by Cemtrex (CETX)?

Cemtrex announced a $1 million order for a video surveillance security system for a correctional facility in the UK.

When will Cemtrex fulfill its $1 million order?

Cemtrex expects to fulfill the order within the current quarter.

What technology is included in Cemtrex's recent order?

The order includes Valerus software, cameras, and related storage hardware.

What is the significance of Cemtrex's new order for investors?

The order underscores Cemtrex's innovation in the security technology sector, potentially boosting investor confidence.

Where is the correctional facility for Cemtrex's security system located?

The facility is located in the United Kingdom.